Introduction

Richard Allen () and Philipp Krause

Chapter Chapter 1 in Contemporary Issues and Challenges in Public Financial Management, 2025, pp 1-24 from Springer

Abstract: 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.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-81136-4_1

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DOI: 10.1007/978-3-031-81136-4_1

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