Ghana’s largest and most important creditor for the past three decades has been the International Development Association (IDA), the soft loan window of the World Bank. That will soon come to an end. The combination of Ghana’s rapid economic growth and the recent GDP rebasing exercise means...

We examine fiscal adjustment episodes in 24 OECD countries in order to find how austerity affects debt and growth, and whether the choice of fiscal instrument matters for the results. Inuential existing studies argue that spending cuts are more likely to successfully reduce debt and enhance...

Economic issues will be key determinants of the outcome of the Scottish referendum on independence. Pensions are a key element of the economic case for or against independence. The costs of funding pensions in an independent Scotland would be influenced by mortality risks, the costs of borrowing...

This paper simultaneously estimates the impact of political majorities on the values of firms that would benefit from the platforms of the two main candidates at the 2007 French presidential election, Ségolène Royal and Nicolas Sarkozy, and of those that are ruled or owned by Sarkozy's...

The paper deals with a particular quality management problems of the public sector. Organisations implement quality management by means of specific models and tools within the Total Quality Management concept. Common Assessment Framework represents one of these public sector models. The purpose...

According to the Federal Treasury’s estimates, the volume of federal budget revenue over the first 7 months of 2013 dropped by 2.2 p.p. of GDP on the corresponding period of 2012. As a positive fact, it can be noted that the rate of decline in the volume of federal budget expenditure as a...

Many organizations have budgets that expire at the end of the fiscal year. Faced with uncertainty over future spending demands, these organizations have an incentive to build up a rainy day fund over the first part of the year. If demand does not materialize, they must rush to spend these...

Wagner’s Law is the first model of public spending in the history of public finance. Wagner’s ‘law’ of expanding state activity, is the proposition that there is a long run propensity for government expenditure to grow relative to national income. This paper tests Wagner’s Law for...

Public administration reform as a response to the requirements of socio-economic environment change, is a process that develops both at central and local level, aiming to an institutional framework achievement, suitable for administrative and financial decentralization, under the European Union...

In this paper, we model and forecast monthly budget balance expenditures. The annual dimension of budget figures is integrated with an approach based on higher frequency data. To this end we develop an econometric model (disaggregated at expenditures category level) based on behavioral equations...