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Medium-Term Expenditure Frameworks

In: The International Handbook of Public Financial Management

Author

Listed:
  • James Brumby
  • Richard Hemming

Abstract

There is a very strong case for a medium-term approach to budgeting. An annual perspective is too short when many government programs have costs and benefits that extend unevenly over many years. Moreover, competing for incremental resources made available through annual budgets encourages politicians and bureaucrats to pursue their narrow, short-term self-interest, which results in budget allocations that do not serve the economy and society well. By providing the financing assurances needed for a more strategic, forward-looking approach to setting spending priorities, medium-term expenditure frameworks (MTEFs) can help to promote better quality budgeting. The purpose of this chapter is to provide an overview of MTEFs. The next section describes what MTEFs are and how they have developed, followed by a discussion of the impact of MTEFs on fiscal performance.

Suggested Citation

  • James Brumby & Richard Hemming, 2013. "Medium-Term Expenditure Frameworks," Palgrave Macmillan Books, in: Richard Allen & Richard Hemming & Barry H. Potter (ed.), The International Handbook of Public Financial Management, chapter 10, pages 219-236, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31530-4_11
    DOI: 10.1057/9781137315304_11
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    Cited by:

    1. Jena, Pratap Ranjan & Sikdar, Satadru, 2019. "Budget Credibility in India: Assessment through PEFA framework," Working Papers 19/284, National Institute of Public Finance and Policy.
    2. Pratap Ranjan Jena, 2017. "Indian Variant of MTEF: The Scope and Opportunities to Develop an Effective Budget Planning Process," Working Papers id:11564, eSocialSciences.
    3. Jena, Pratap Ranjan, 2017. "Indian Variant of MTEF: The Scope and Opportunities to Develop an Effective Budget Planning Process," Working Papers 17/185, National Institute of Public Finance and Policy.
    4. Jena, Pratap Ranjan, 2019. "Living under Fiscal Rules: Fiscal Management Response and Resource Allocation Choices for State of Odisha," Working Papers 19/264, National Institute of Public Finance and Policy.
    5. Jena, Pratap Ranjan & Singh, Abhishek, 2020. "Emerging Fiscal Priorities and Resource Concerns: A Perspective on Fiscal Management from Madhya Pradesh," Working Papers 20/303, National Institute of Public Finance and Policy.

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