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IMF Seminars, January 1, 1901

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Bibliographic details

• Published: January 1, 1901

Purpose and Scope

• Topic: Public financial management (PFM)—budgeting, spending, and managing public monies—and recent innovations and reforms over the last two decades.
• Focus: Critical questions about reforms including fiscal rules, fiscal responsibility legislation, medium-term budget frameworks, fiscal councils, performance budgeting, and accrual accounting.
• Objective: Evaluate what these reforms have accomplished, the issues and challenges encountered (including those from the global financial and economic crisis), and draw lessons to guide reformers pursuing the next generation of PFM reforms.
• Availability: Public Financial Management and Its Emerging Architecture is available in print and e-book formats.
• Ancillary note: Download an excerpt from the book is offered.

Program and Participants

• Opening Remarks by: Min Zhu, IMF Deputy Managing Director
• Moderator: Carlo Cottarelli, Director, IMF Fiscal Affairs Department
• Presentation by: Marco Cangiano of the IMF Fiscal Affairs Department
• Panelists:
  • Robert Reischauer, Former President of the Urban Institute and Former Director of the Congressional Budget Office
  • Allen Schick, University of Maryland
  • Nick Manning, Head of Governance & Public Sector Management Practice, World Bank
  • Gerhard Steger, Austrian Director General of the Budget, Ministry of Finance and Chair of the OECD Working Party of Senior Budget Officials

About the Editors

• Marco Cangiano: Assistant Director in the IMF Fiscal Affairs Department and Visiting Scholar at New York University’s Wagner School of Public Service
• Teresa Curristine: Senior Economist in the IMF’s Fiscal Affairs Department; prior to joining the Fund she worked for the OECD
• Michel Lazare: Assistant Director in the IMF’s African Department; prior to joining the Fund, he worked for French Ministry of Finance

Key Messages from Advance Comments

• Matt Andrews (Associate Professor of Public Policy at Harvard Kennedy School of Government): The book covers many questions governments ask when improving PFM systems; it offers insightful perspectives and will inspire and inform reform ideas across the globe.
• Paul L. Posner (Director of the Public Administration Program at the George Mason University): The chapters provide a comprehensive conceptual framework to assess national practices, useful in the aftermath of financial crises for achieving more sustainable and rationalized public finances.
• Per Molander (former Director-General and architect of the 1990 s Swedish budget reforms): The analysis is firmly empirical and balanced; the anthology will remain a rich source for practitioners and academic researchers.
• Joachim Werner (Associate Professor of Public Policy at the London School of Economics and Political Science): The book avoids simplistic prescription, fosters awareness of coherence and context of budget institutions, and is an indispensable guide for post-crisis fiscal designers.
• Gerhard Steger (Director General of the Budget at the Austrian Ministry of Finance and chair of the OECD Working Party of Senior Budget Officials): The book provides an impressive overview of country practices, reforms and innovations in PFM, and is timely for practitioners, academics, and the interested public.
• Irene S. Rubin (Professor Emeritus of Public Administration, Northern Illinois University): The volume analyzes key PFM innovations of the past two decades, argues that PFM is an integrated framework, and raises questions about the transferability of innovations from advanced to developing economies.