Fiscal Transparency and Economic Outcomes

December 1, 2005

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Fiscal Transparency and Economic Outcomes, (USA: International Monetary Fund, 2005) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper develops indices of fiscal transparency for a broad range of countries based on the IMF's Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of the Reports on the Observance of Standards and Codes (ROSCs). The indices covers four clusters of fiscal transparency practices: data assurances, medium-term budgeting, budget execution reporting, and fiscal risk disclosures. More transparent countries are shown to have better credit ratings, better fiscal discipline, and less corruption, after controlling for other socioeconomic variables.

Subject: Budget execution and treasury management, Budget planning and preparation, Fiscal risks, Fiscal stance, Fiscal transparency

Keywords: Emerging market, EU accession countries, Fiscal policy, IMF country surveillance report, Sample selection, WP

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2005/225
Stock No:

WPIEA2005225
ISBN:

9781451862447
ISSN:

1018-5941

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