scholarly journals Strengthening Public Financial Management Reform in Pacific Island Countries

10.1596/25070 ◽  
2016 ◽  
Author(s):  
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◽  
◽  
Keyword(s):  
Financial Management ◽  
Pacific Island ◽  
Management Reform ◽  
Public Financial Management ◽  
Pacific Island Countries

scholarly journals Review of the Public Financial Management Reform Strategy for Pacific Island Countries, 2010-2020

2020 ◽  
Vol 20 (183) ◽  
Author(s):  
Richard Allen ◽  
Majdeline El Rayess ◽  
Laura Doherty ◽  
Priya Goel
Keyword(s):  
Financial Management ◽  
Gender Inequalities ◽  
Pacific Island ◽  
Public Infrastructure ◽  
Management Reform ◽  
The Public ◽  
Slow Pace ◽  
Public Financial Management ◽  
Reform Strategy ◽  
Pacific Island Countries

This paper reviews the Public Financial Management (PFM) reform stategy for 16 Pacific Island Countries (PICs) during the period 2010-2020. The strategy was endorsed by the finance and economic ministers of the region (FEMM) in 2010. The paper analyzes more than 30 PEFA assessments carried out across the region. The region shares the generally slow pace of PFM reform that is also a feature of most developing countries. Some PICs have improved their PFM performance significantly, while others have done less well. PFM reforms have suffered from the small size and low capacity of many PICs, poorly designed PFM roadmaps, variable political suppport for reform, and vulnerability to natural disasters. The paper recommends that in the next five years, there should be a more granular and targeted approch to PEFAs. PICs should focus on basic PFM reforms and (where capacities allow) more transparent public finances, as well as better management of climate change considerations, public infrastructure, gender inequalities, and state-owned enterprises. Perseverance by countries in implementing reforms and leadership by finance ministries are critical. PFTAC’s advice is highly regarded across the region, and it could consider alternative modalities of CD delivery and stronger coordination with other development partners.

scholarly journals International donors as enablers of institutional change in turbulent times?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Veronika Vakulenko
Keyword(s):  
Financial Management ◽  
Public Management ◽  
Central Government ◽  
Content Type ◽  
Management Reform ◽  
Public Financial Management ◽  
Turbulent Times ◽  
Local Actors ◽  
Global And Local

PurposeThe purpose is to explore the role of international financial institutions (IFIs) during public financial management reform in a transitional economy. In particular, the study focuses on interaction between external enablers and local actors.Design/methodology/approachThe paper is based on a qualitative study of public financial management reform in Ukraine during 1991–2014. This period is divided into stages corresponding with two projects financed by the World Bank: “Treasury System” and “Public Finance Modernization.”FindingsFirst, IFIs supported a Ukrainian economy weakened by financial crisis and insisted on a comprehensive reform of public financial management to facilitate recovery. By strategically addressing local challenges, eliminating local uncertainties and maintaining stable interactions, IFIs gained support from the central government. Local actors continued the reform by negotiating with other actors and getting quorum support. In the second stage, IFIs could not implement planned changes. Even though the change was well-perceived at the beginning, developed tensions between local actors were overlooked by IFIs, which resulted in loss of commitment of the State Treasury representatives. The continuous political instability in Ukraine constrained interaction between IFIs and the Ministry of Finance and reduced political will for conducting reforms.Originality/valueThe study contributes to the debate on the adequacy of externally driven public management reforms in developing countries by exploring actions and interactions of global and local actors during the change in public sector practices.

scholarly journals The Impact Of Corruption On Economic Development: Case Study Romania

10.26458/1613 ◽  
2016 ◽  
Vol 16 (1) ◽  
pp. 33
Author(s):  
Luminita Ionescu ◽  
Florentin Caloian
Keyword(s):  
Economic Development ◽  
Financial Management ◽  
Cyber Attacks ◽  
Management Reform ◽  
The Public ◽  
Fiscal Transparency ◽  
Public Financial Management ◽  
The Impact ◽  
Geopolitical Risks

In the last decade, Romania implemented a strong legislation and a comprehensive program of public financial management reform in order to improve the national fiscal transparency and to reduce corruption.Corruption is a growing phenomenon all over the world, affecting economic development and aggravated by the legacy of the global economic crisis. The global risks are different from the past due to notably cyber attacks, new economic realities and geopolitical risks. Most of the time, corruption is associated with financial crime, fraud and bribery. Corruption is a major factor of reducing economic development and the governments must increase of macroeconomic and fiscal forecasts in order to facilitate access to the public funds.       

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