Public Financial Management and Fiscal Outcomes in Sub-Saharan African Heavily-Indebted Poor Countries

September 1, 2008

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Format: Chicago

Ezequiel Cabezon, and Tej Prakash. Public Financial Management and Fiscal Outcomes in Sub-Saharan African Heavily-Indebted Poor Countries, (USA: International Monetary Fund, 2008) accessed December 22, 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 examines, in a formal econometric framework, the linkages between public financial management and fiscal outcomes in sub-Saharan African countries. Similar analyses have been done for Latin America, Europe, and the United States, but none in the context of low-income countries. Using public financial management indicators, as measured in two recent assessments related to the Heavily-Indebted Poor Countries Initiative, this study shows that improving public financial management leads to better fiscal outcomes, as measured by the overall fiscal balance and external debt levels, after controlling for other characteristics that might alter fiscal outcomes.

Subject: Budget execution and treasury management, Budget planning and preparation, Expenditure, Fiscal stance, Public financial management (PFM)

Keywords: HIPC country, PFM budget execution, PFM indicator, PFM reform, PFM system, Term PFM, WP

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2008/217
Stock No:

WPIEA2008217
ISBN:

9781451870756
ISSN:

1018-5941

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