This paper discusses Ireland’s Fiscal Transparency Assessment. The Irish government has ambitious plans to improve further the timeliness, quality, and comprehensiveness of its budgets, statistics, and accounts. Ireland has the capacity and information to bring its fiscal transparency...

Stock-flow adjustments are typically measured as the difference between changes in gross debt and deficits. These are interpreted as a proxy for unexplained fiscal discrepancies, and often associated with a lack of fiscal transparency. However, such measures fail to capture the role of financial...

Over the past three decades, public spending on infrastructure, as a share of GDP, has been on the decline worldwide. Although the link between infrastructure investment and economic growth is not yet fully understood, the quality of infrastructure clearly affects a country's productivity,...

In this paper, we develop a comprehensive framework to obtain a 'broad definition' of overall public debt stock accumulation in Turkey. To do this first, we identify 'invisible balance' of public sector incurred from politically backed (informal) off-budget debt-creating transactions among...

This paper investigates how an office-motivated incumbent can use transparency enhancement on public spending to signal his budgetary management ability and win re-election. We show that, when the incumbent faces a popular challenger, transparency policy can be an effective signaling device. A...

Fiscal transparency has been consistently identified as a key feature of efficient fiscal policy and a prerequisite for good public governance. However, measuring fiscal transparency remains an empirical challenge, and extant literature on developing countries is still sparse. To that end, this...

The recent economic crisis, one of the symptoms of which is a sudden increase of public debt in the majority of OECD countries, again made the government and the society aware of the necessity for conducting transparent, but also responsible fiscal policy. Creating a framework of the fiscal...

Timor-Leste weathered the global financial crisis well and experienced healthy economic growth rates. It has made solid progress in strengthening the public financial management systems. The budget document provides comprehensive information; fiscal transparency is high. The Ministry of Finance...