This Note on public management of pension funds concludes that publicly-managed pension reserves are often used to finance non-pension policy. Public pension fund managers tend to invest based on objectives unrelated to pension provision. These include social and economically target investments...

This concept note presents the strategic engagement of the World Bank in the areas of public sector management and governance in Colombia. It describes the short and medium term approach through which the Bank will provide support to the country on those areas of reform, as well as their links...

Transition to a more democratic organization of the political environment led to the adoption of four laws in 1998 - Decentralization Laws - that provide for local governments' semi-autonomy, and define the overall context in which decentralization would occur, outlining the principles for...

"The authors propose a "bottom up" approach to link public investment programs with a class of macro models recently developed to quantify Strategy Papers for Human Development (SPAHD) in low-income countries. The methodology involves establishing constant-price projections of investment outlays...

"The authors explore the relationship between fiscal rules and capital budgeting. The current budgetary approach to limit deficits to a fixed portion of GDP or to balance budgets could undermine incentives to invest in public capital with long-run returns since politicians concerned about...

This report summarizes the findings of a review of public investment management (PIM) practices in the Western Balkans carried out with an eye to improving practices over the medium term, sharing experiences on a regional basis, providing some initial specific recommendations and identifying...

This note focuses on the second of these reform agendas, and in particular on how the institutional and organizational system for public investment planning and budgeting can be improved. Considerable analytical work has already been done on the macroeconomic and fiscal framework, and the Fiscal...

This report addresses key issues on macroeconomic stability, efficient allocation of public expenditures, public sector staffing, and public finance management. The fiscal sustainability analysis carried out for this report indicates that serious adjustments will be needed to improve Burundi's...