Shining a Light on the Mysteries of State: The Origins of Fiscal Transparency in Western Europe

October 25, 2013

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Format: Chicago

Timothy C Irwin. Shining a Light on the Mysteries of State: The Origins of Fiscal Transparency in Western Europe, (USA: International Monetary Fund, 2013) accessed November 21, 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

The extent of fiscal transparency in Western Europe has varied over the centuries. Although ancient Greek, Roman, and medieval governments were sometimes open about their finances, the absolute monarchies of the 1600s and 1700s shrouded them in mystery. Factors that have encouraged transparency include (i) the sharing of political power and rulers’ need to persuade creditors to lend and taxpayers’ representatives to approve new taxes; (ii) the spread of technological innovations that reduce the costs of storing and transmitting information; and (iii) the acceptance of political theories that emphasize accountable government and public discussion of government policy.

Subject: Budget planning and preparation, Expenditure, Fiscal accounting and reporting, Fiscal transparency, Public debt, Public financial management (PFM)

Keywords: Absolutist government, Budget planning and preparation, Budgets, Europe, Finance minister, Fiscal accounting and reporting, Fiscal transparency, Government finances, Government operation, Government policy, Government regulation, Government sector, Government's account, Public accounts, Public finances, Publication of a report, Western Europe, WP

Publication Details

Pages:

43
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2013/219
Stock No:

WPIEA2013219
ISBN:

9781475570946
ISSN:

1018-5941

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