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

The search for ways to ensure growth while accommodating necessary expenditure cuts to correct fiscal imbalances, has often led to the advocacy of the government own savings (GOS) measure as an indicator of growth potential in fiscal adjustment. This paper critically examines the rationale of...

This paper reviews the extensive empirical literature on the growth and determinants of government expenditure. Although the coverage does not aim to be exhaustive, the authors provide an overview of the quantitative approaches to analyzing the growth in government expenditure. The main debates...

For the republics of the former Socialist Federal Republic of Yugoslavia (SFRY) as for many other transition economies, an important step in introducing a more market-oriented system was the restructuring of their budget systems. This paper reviews and evaluates the process of budget system...

This paper reviews the role of accounting in budget system reform from the perspective of emerging economies who wish to adopt the OECD`s performance budgeting reforms. While many OECD countries, pursuing the reforms associated with the New Public Management, have moved their accounting systems...

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 quot;newquot; performance budgeting model, increasingly being applied in industrial countries. By identifying its main components,...

The internal audit function has received increasing attention as an important component of government financial management and a tool for improving the performance of the government sector. Recently, a consensus has been reached on what audit standards governments should meet. This paper reviews...

In reviewing the means to strengthen public expenditure management (PEM) systems, there has been increased emphasis on the micro basis of broader budget system reforms, especially reforms of the internal financial management systems in government agencies. Specifically in transition economies,...

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 paper examines the process of budget system reform involved in moving from traditional centralized input-oriented systems to more modern devolved performance-based systems, focusing on the constraint of limited managerial capacity. The latter is identified both as that required to operate...