Fiscal Transparency, Accountability, and Risk

Policy Papers, August 7, 2012

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Fiscal Transparency, Accountability, and Risk

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Bibliographic details

• Published: August 7, 2012
• Series: Policy Papers
• Stock No: ISBN

Summary

• This paper surveys that state of fiscal transparency in the wake of the current crisis and looks at what can be done to improve it.
• It examines the relationship between fiscal transparency and fiscal outcomes; reviews progress in promoting greater fiscal transparency over the past decade; considers the lessons of the recent crisis for existing fiscal transparency standards, practices, and monitoring arrangements; and makes a series of recommendations for renewing the global fiscal transparency effort in the wake of the crisis.

Scope and focus

• Subject: Central banks, Fiscal policy, Fiscal risk, Fiscal transparency
• Main areas reviewed:
  • Relationship between fiscal transparency and fiscal outcomes.
  • Progress in promoting greater fiscal transparency over the past decade.
  • Lessons of the recent crisis for existing fiscal transparency standards, practices, and monitoring arrangements.
  • Recommendations for renewing the global fiscal transparency effort.

Findings and analytical emphasis

• Surveys the state of fiscal transparency in the wake of the current crisis.
• Emphasizes the link between fiscal transparency and fiscal outcomes.
• Reviews a decade of progress in promoting greater fiscal transparency.
• Analyzes how the recent crisis revealed strengths and weaknesses in fiscal transparency standards, practices, and monitoring.

Policy recommendations (as described)

• Makes a series of recommendations for renewing the global fiscal transparency effort in the wake of the crisis.
• Focus of recommendations:
  • Reinforcing fiscal transparency standards and practices.
  • Improving monitoring arrangements.
  • Strengthening the link between transparency and accountability to improve fiscal outcomes.

Related IMF outreach (from page)

• Policy Papers (category)
• IMF Publications Newsletter: Latest economic research and insights delivered to your inbox each month. (Subscribe)

Source: Fiscal Transparency, Accountability, and Risk (August 7, 2012), International Monetary Fund — accessed 9/18/2026.

Content in this bundle

• Fiscal Transparency, Accountability, and Risk; IMF Policy Paper; August 7, 2012
  • Fiscal Transparency, Accountability, and Risk; IMF Policy Paper; August 7, 2012 (Markdown version)
  • Fiscal Transparency, Accountability, and Risk; IMF Policy Paper; August 7, 2012 (PDF)