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Enhancing the Capability of Central Finance Agencies

Author

Listed:
  • Allen, Richard

    (World Bank)

  • Grigoli, Francesco

    (World Bank)

Abstract

A well-organized and effective finance ministry and its associated central finance agencies (CFAs) are essential to good fiscal outcomes. Recent studies of CFAs in selected low-income countries demonstrate that their organizational structure varies widely and that decision making on public finance is strongly influenced by political economy factors. This note presents some common themes arising from the case studies and provides some descriptive evidence about the organizational structure of the CFAs. This note also includes evidence of a “U-curve” pattern in the development of the organizational structure of CFAs over the long term. It confirms that political economy analysis, though difficult to apply in practice, is highly relevant in the development of reform strategies for strengthening CFAs and public financial management systems.

Suggested Citation

  • Allen, Richard & Grigoli, Francesco, 2012. "Enhancing the Capability of Central Finance Agencies," World Bank - Economic Premise, The World Bank, issue 73, pages 1-7, January.
    • Handle: RePEc:wbk:prmecp:ep73
    as

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    References listed on IDEAS

    as
    1. Verena Fritz & Edward Hedger & Ana Paula Fialho Lopes, 2011. "Strengthening Public Financial Management in Postconflict Countries," World Bank Publications - Reports 10097, The World Bank Group.
    2. Hasnain, Zahid, 2011. "Incentive compatible reforms : the political economy of public investments in Mongolia," Policy Research Working Paper Series 5667, The World Bank.
    3. Richard Allen, 2008. "Reforming Fiscal Institutions: The Elusive Art of the Budget Advisor," OECD Journal on Budgeting, OECD Publishing, vol. 8(3), pages 1-9.
    4. Fritz, Verena & Hedger, Edward & Lopes, Ana Paula Fialho, 2011. "Strengthening Public Financial Management in Postconflict Countries," World Bank - Economic Premise, The World Bank, issue 54, pages 1-7, April.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mr. Richard I Allen & Yasemin Hurcan & Peter Murphy & Mr. Maximilien Queyranne & Mr. Sami Yläoutinen, 2015. "The Evolving Functions and Organization of Finance Ministries," IMF Working Papers 2015/232, International Monetary Fund.
    2. Richard Allen & Yasemin Hurcan & Maximilien Queyranne, 2016. "The Evolving Functions and Organization of Finance Ministries," Public Budgeting & Finance, Wiley Blackwell, vol. 36(4), pages 3-25, December.

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    More about this item

    Keywords

    finance ministry; central finance agencies; fiscal; public finance; political economy; low-income countries; development; reform; public financial management; World Bank;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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