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Introduction

In: Contemporary Issues and Challenges in Public Financial Management

Author

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  • Richard Allen
  • Philipp Krause

Abstract

The introductory chapter, by Richard Allen and Philipp Krause, makes the case that public financial management (PFM) is a field of considerable strategic and policy importance that has grown significantly since the Global Financial Crisis. It also considers PFM as a topic of research interest and its status in academia. The chapter summarizes the key issues and themes of the volume which fall under five broad headings: (i) the institutional and governance framework for PFM; (ii) the development of modern budgeting, treasury, and strategic planning practices; (iii) the expanding scope and coverage of PFM; (iv) fiscal transparency, public participation, and fiscal risks; and (v) the digitalization of public finance systems. It also highlights several themes that cut across technical areas of PFM (examples: climate change, gender, corruption) and are institutional rather than technical in nature. The book looks both backward and forward in time: in some areas (for example: digitalization) the technology is changing faster than PFM practices permit.

Suggested Citation

  • Richard Allen & Philipp Krause, 2025. "Introduction," Springer Books, in: Richard Allen & Philipp Krause (ed.), Contemporary Issues and Challenges in Public Financial Management, chapter 0, pages 1-24, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-81136-4_1
    DOI: 10.1007/978-3-031-81136-4_1
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