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Promoting Fiscal Transparency the Complementary Roles of the Imf, Financial Markets and Civil Society

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  • Murray Petrie

Abstract

This paper explores initiatives to date by the IMF, financial markets, and civil society organizations to assess and utilize information on fiscal transparency. The results of surveys and interviews of rating agency analysts and surveys of civil society organizations on their level of awareness of, and use of IMF fiscal transparency assessments are presented. The paper then considers the relative roles of the IMF, the private sector, and civil society organizations in assessing and promoting fiscal transparency, and the scope for greater complementarity among their roles. The paper concludes with a number of suggestions for making the IMF's fiscal transparency initiatives more effective.

Suggested Citation

  • Murray Petrie, 2003. "Promoting Fiscal Transparency the Complementary Roles of the Imf, Financial Markets and Civil Society," IMF Working Papers 2003/199, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2003/199
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    References listed on IDEAS

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    1. International Monetary Fund, 1999. "Greece: Selected Issues," IMF Staff Country Reports 1999/138, International Monetary Fund.
    2. Mr. Ashok Vir Bhatia, 2002. "Sovereign Credit Ratings Methodology: An Evaluation," IMF Working Papers 2002/170, International Monetary Fund.
    3. Carmen M. Reinhart, 2002. "An Introduction," The World Bank Economic Review, World Bank, vol. 16(2), pages 149-150, August.
    4. Murray Petrie & Mr. Richard Hemming, 2000. "A Framework for Assessing Fiscal Vulnerability," IMF Working Papers 2000/052, International Monetary Fund.
    5. Mr. George Kopits & Mr. J. D. Craig, 1998. "Transparency in Government Operations," IMF Occasional Papers 1998/001, International Monetary Fund.
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    Cited by:

    1. Andreula, Nicoló & Chong, Alberto E. & Guillén, Jorge, 2009. "Institutional Quality and Fiscal Transparency," IDB Publications (Working Papers) 1663, Inter-American Development Bank.
    2. Bedri Peci, 2016. "Fiscal Transparency In Theory And Practice: The Case Of Kosovo," International Journal of Business and Management, International Institute of Social and Economic Sciences, vol. 4(4), pages 78-91, November.
    3. Rafal Benecki & Jens Hölscher & Mariusz Jarmuzek, 2006. "Fiscal transparency and policy rules in Poland," UCL SSEES Economics and Business working paper series 65, UCL School of Slavonic and East European Studies (SSEES).
    4. Benu Schneider, 2005. "Do Global Standards And Codes Prevent Financial Crises? Some Proposals On Modifying The Standards-Based Approach," UNCTAD Discussion Papers 177, United Nations Conference on Trade and Development.
    5. International Monetary Fund, 2004. "Republic of Kazakhstan: Selected Issues," IMF Staff Country Reports 2004/362, International Monetary Fund.
    6. James E. Alt & David Dreyer Lassen & Shanna Rose, 2006. "The Causes of Fiscal Transparency: Evidence from the American States," EPRU Working Paper Series 06-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    7. Nicoló Andreula & Alberto Chong, 2016. "Do good institutions improve fiscal transparency?," Economics of Governance, Springer, vol. 17(3), pages 241-263, August.
    8. Wehner, Joachim & de Renzio, Paolo, 2013. "Citizens, Legislators, and Executive Disclosure: The Political Determinants of Fiscal Transparency," World Development, Elsevier, vol. 41(C), pages 96-108.
    9. Elif Arbatli & Julio Escolano, 2015. "Fiscal Transparency, Fiscal Performance and Credit Ratings," Fiscal Studies, Institute for Fiscal Studies, vol. 36, pages 237-270, June.

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