This paper highlights some key policy issues regarding the performance of public expenditure and proposes an analytical framework for its assessment. The framework distinguishes three economic objectives of policies in the pursuit of better performance of public expenditure: macroeconomic...

Although Korea has the second-lowest level of public spending among OECD countries at 22½ per cent of GDP, it faces strong upward spending pressures over the medium and longer term, which could threaten fiscal sustainability. This paper analyses the main features of Korea’s public expenditure...

The UK medium-term budgetary framework introduced in 1997 addressed a number of weaknesses of the former regime, notably a bias against capital expenditure and, more generally, poor conditions for longerterm planning adversely affecting central government spending departments, local authorities...