Reforming Public FinancePublic Finance and PFM: A New Approach

Richard Allen ()

Chapter 3 in Reforming Public Finances, 2026, pp 37-47 from Springer

Abstract: Abstract This chapter sets out a new approach to public finance reform. It summarizes recent experience showing that big bang reforms tend to fail; that new legal frameworks, while beneficial, do not necessary translate into better performance; that sequenced reform matters; and that political commitment is crucial. It highlight recent experience showing that the performance of reform initiatives in low capacity countries has been especially poor. This book attempts to measure the “feasibility” of reform, through a series of ten simple indictors which it then applies in 70 illustrative reform areas. Finally, the chapter draws out eight key lessons from the book and some key policy implications.

Keywords: Key reform areas; public finance; PFM; budgeting; institutions; political economy; technical assistance; nontechnical assistance; fiscal policy; fiscal risks; fiscal transparency; World Bank; IMF; AI tools; reform sequencing; governance; corruption; international financial institutions (IFIs); developing countries; advanced countries; legal frameworks (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-12388-6_3

Ordering information: This item can be ordered from
http://www.springer.com/9783032123886

DOI: 10.1007/978-3-032-12388-6_3

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().