{
  "title": "The Challenge of Reforming Budgetary Institutions in Developing Countries",
  "publication": "IMF Working Papers, May 1, 2009",
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  "summary": "The paper notes that the development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving. It discusses Douglass North's prediction?which is supported by available data?",
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    {
      "heading": "Summary findings",
      "content": "- The development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving.\n- Douglass North's prediction, supported by available data, is that institutional reform is also likely to be very slow in developing countries since the budget is especially prone to rent-seeking influences.\n- Complex, multiannual PFM reform strategies have been strongly promoted by the donor community; the paper critiques this fashionable emphasis.\n- The paper advocates a simpler approach grounded on Schick's principle of \"getting the basics right.\"\n- The paper identifies several areas where further research would be fruitful."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Budget planning and preparation, Expenditure, Fiscal accounting and reporting, Medium-term budget frameworks, Public financial management (PFM)\n- Keywords: budget, country, government, Platform approach, reform program, WP"
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Prioritize a simpler, fundamentals-first reform strategy (\"getting the basics right\") over complex, multiannual PFM reform programs favored by donors.\n- Recognize that institutional reform of budgetary systems is likely to be slow in developing countries due to rent-seeking pressures on the budget.\n- Design reforms that account for long time horizons observed in historical development of budgetary institutions in advanced economies."
    },
    {
      "heading": "Areas for further research (as identified)",
      "content": "- Empirical investigation into the pace of institutional reform in developing countries relative to historical cases.\n- Analysis of mechanisms through which rent-seeking affects budgetary institution reform.\n- Evaluation of the effectiveness of complex, multiannual PFM reform strategies versus simpler, basics-first approaches.\n\nSource: IMF Working Paper — \"The Challenge of Reforming Budgetary Institutions in Developing Countries\", Richard I Allen, Working Paper No. 2009/096, May 1, 2009.\n\n---\n\n Content in this bundle\n\n- wp0996\n  - wp0996 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp0996 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/the-challenge-of-reforming-budgetary-institutions-in-developing-countries-22899"
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    "Authors: Richard I Allen",
    "Published: May 1, 2009",
    "Series: IMF Working Papers",
    "The development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving.",
    "Douglass North's prediction, supported by available data, is that institutional reform is also likely to be very slow in developing countries since the budget is especially prone to rent-seeking influences.",
    "Complex, multiannual PFM reform strategies have been strongly promoted by the donor community; the paper critiques this fashionable emphasis.",
    "The paper advocates a simpler approach grounded on Schick's principle of \"getting the basics right.\"",
    "The paper identifies several areas where further research would be fruitful.",
    "Subject: Budget planning and preparation, Expenditure, Fiscal accounting and reporting, Medium-term budget frameworks, Public financial management (PFM)",
    "Keywords: budget, country, government, Platform approach, reform program, WP",
    "Prioritize a simpler, fundamentals-first reform strategy (\"getting the basics right\") over complex, multiannual PFM reform programs favored by donors.",
    "Recognize that institutional reform of budgetary systems is likely to be slow in developing countries due to rent-seeking pressures on the budget.",
    "Design reforms that account for long time horizons observed in historical development of budgetary institutions in advanced economies.",
    "Empirical investigation into the pace of institutional reform in developing countries relative to historical cases.",
    "Analysis of mechanisms through which rent-seeking affects budgetary institution reform.",
    "Evaluation of the effectiveness of complex, multiannual PFM reform strategies versus simpler, basics-first approaches.",
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