Public financial management enablesgovernment to implement policy. Financial management information systems are a central element of PFM in that they facilitate government financial transactions and subject them to rigorous budgetary controls. Therefore, the adequate use of FMIS systems supports...

The control protocols that underlie public expenditure management have direct implications for a government's ability to pursue fiscal discipline and service delivery objectives. The literature recognizes the inherent challenge in balancing control with flexibility and that these two objectives...

The asymmetric moving average model (asMA) is extended to allow forasymmetric quadratic conditional heteroskedasticity (asQGARCH). Theasymmetric parametrization of the conditional variance encompassesthe quadratic GARCH model of Sentana (1995). We introduce a framework fortesting asymmetries in...

This paper studies whether budget rigidities affect the probability of countries getting into fiscal distress and reduce the likelihood of governments performing fiscal adjustments. Budget rigidities are constraints that limit the ability of the government to change the size and structure of the...

Policy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and...

Financial management information systems are a sine qua non in public financial management and play a foundational role in the execution of the budget. Recognizing their potential contribution to fiscal discipline, the strategic allocation of resources, and operational efficiency, significant...

This paper combines district-level government spending data from Indonesia and natural disaster damage indices to analyze the extent to which districts are forced to reallocate their expenditures across categories after the incidence of floods, earthquakes, and volcanic eruptions. The results...