Fiscal transparency from central banks’ perspective: off-budget activities and government asset funds

Dubravko Mihaljek ()

MNB Conference Volume, 2007, vol. 1, issue 1, 9-17

Abstract: This paper reviews how central banks in emerging market countries assess fiscal positions, and discusses two aspects of fiscal transparency that have recently gained importance from central banks’ perspective: off-budget activities and special fiscal funds. By increasing uncertainty about the true fiscal position of the government, these activities are of concern both to central banks that set monetary policy on their own, taking fiscal policy as given, and to those that have adopted an institutional framework for coordinating monetary and fiscal policies.

Keywords: fiscal transparency; public sector accounts; off-budget activities; sovereign wealth funds; emerging market economies. (search for similar items in EconPapers)
JEL-codes: H19 H50 H69 H81 H82 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:mnb:confer:v:1:y:2007:i:1:p:9-17

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