Many emerging market economies are trying to improve their budget processes and move to performance-based budgeting. This paper first reviews the evolution of the "new" performance budgeting model, increasingly being applied in industrial countries. By identifying its main components, the tasks...

This paper documents the main elements of the new budget system established in the Russian Federation through its revised budget system law, or the Budget Code, of 2000. It critically examines the budget preparation, budget approval, and budget execution processes, as well as the financial...

This article applies an empirical model, based on the economic theory of public choice, to the Group of Seven countries. It is discovered: (1) that deficit financing does appear to contribute to increased real government spending; (2) that the demand for government services as a whole does not...