Managing Extrabudgetary Funds

Richard Allen

Chapter 18 in The International Handbook of Public Financial Management, 2013, pp 396-411 from Palgrave Macmillan

Abstract: Abstract This chapter addresses issues relating to the establishment and financial management of extrabudgetary funds (EBFs), an important group of government-owned entities and accounts that are, by definition, outside the parameters and control of conventional budgetary rules and procedures. There is a considerable disagreement in the literature between those who believe that EBFs undermine the credibility and coherence of the budget and should be abolished and those who believe that the funds bring potential economic benefits, should be allowed to coexist with the budget, but need to be firmly controlled. The chapter favors the second approach, for reasons explained below.

Keywords: Financial Management; Budget Process; Budget System; Sovereign Wealth Fund; Consolidate Budget (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31530-4_19

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DOI: 10.1057/9781137315304_19

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