During the Asian crisis, a rise in short-term for debt relative to short-term debt denominated in domestic currency results in a significant decline in negative exposure of Korean firms, with Chaebol firms able to benefit more. Exposure of non-Chaebol firms is significantly affected by maturity...

A medium-term expenditure framework is considered an essential element of public financial management reform, and this framework has been adopted in many countries. However, in terms of implementation in those countries, the medium-term expenditure framework continues to present a significant...

Performance budgeting is considered one of the essential elements of public financial management reform and has been adopted in many countries. However, it continues to present a significant challenge within the budget process. This case study draws from change management theories to tell the...