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Budget reform before and after the global financial crisis

Author

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  • Marc Robinson

Abstract

Budgeting techniques are undergoing major change in many OECD countries in the wake of the global financial crisis. As part of this, many of the directions of pre-crisis budgeting reform are being critically reviewed. This paper reviews the past and future of budgeting reform. It also considers what will be needed to develop a more robust analytical framework within which to map future reform directions. JEL codes: E62, H12, H50, H55, H61 Keywords: fiscal discipline, allocative efficiency, prioritization, value-for-money, reallocation, accrual accounting, accrual budgeting, performance budgeting, programme budgeting, fiscal rules, expenditure rules, expenditure ceilings, expenditure carryover, actor/motivation frameworks, legal principles framework.

Suggested Citation

  • Marc Robinson, 2016. "Budget reform before and after the global financial crisis," OECD Journal on Budgeting, OECD Publishing, vol. 16(1), pages 29-63.
    • Handle: RePEc:oec:govkaa:5jlvc85w7nkf
    DOI: 10.1787/budget-16-5jlvc85w7nkf
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    Citations

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    Cited by:

    1. Fatih Deyneli, 2019. "Does Performance Budgeting System Affect Fiscal Performance in OECD Countries?," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 8(2), pages 22-34, December.
    2. Antonio Di Majo, 2020. "Democrazia di Bilancio e Governo delle Finanze pubbliche nella storia del Budgeting pubblico," Working papers 86, Società Italiana di Economia Pubblica.
    3. Hans Pitlik & Michael Klien & Stefan Schiman-Vukan, 2017. "Stabilitätskonforme Berücksichtigung nachhaltiger öffentlicher Investitionen," WIFO Studies, WIFO, number 60595.
    4. Ringa Raudla & James W. Douglas & Muiris MacCarthaigh, 2022. "Medium‐term expenditure frameworks: Credible instrument or mirage?," Public Budgeting & Finance, Wiley Blackwell, vol. 42(3), pages 71-92, September.
    5. Mihai-Alexandru Ghigiu, 2024. "Budgets and Performance Metrics in Modern Organizations. Preliminary Insights into the Budgeting Process of Higher Education Institutions," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 58-63.
    6. Oana CHIRICA & Mihai-Alexandru GHIGIU, 2024. "Revenue Sources in the Budgets of Public Higher Education Institutions. An Empirical Examination of Financial and Non-Financial Performance Criteria," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(2), pages 58-73, February.
    7. Thien-Vu Tran & Hosomi Shoichiro & Masayoshi Noguchi, 2023. "Inter-Jurisdictional Comparison of Public Asset Utilization in Tokyo Metropolitan Local Governments," Public Organization Review, Springer, vol. 23(1), pages 197-218, March.

    More about this item

    Keywords

    fiscal discipline; allocative efficiency; prioritization; value-for-money; reallocation; accrual accounting; accrual budgeting; performance budgeting; programme budgeting; fiscal rules; expenditure rules; expenditure ceilings; expenditure carryover; actor/motivation frameworks; legal principles framework.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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