World Bank Support for Public Financial Management: Conceptual Roots and Evidence of Impact
73 Pages Posted: 23 Jul 2008
Date Written: July 22, 2008
The advice provided by the Bank on improving public financial management (PFM) is influenced by debates on theory and practice in developed and developing countries. This paper touches on some of the highlights of these debates, drawing from indicative literature mainly since 1990 from scholars and practitioners. The second part of the paper discusses examples of Bank support for reform of budget planning and execution, in particular financial management information systems (FMIS), medium-term expenditure frameworks (MTEF), procurement, auditing, monitoring and evaluation, and the strengthening of key budgetary accountability institutions, like public accounts committees of the legislature and supreme audit institutions.
Keywords: financial management, procurement, world bank, budget, corruption
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