PEFA, Public Financial Management, and Good Governance

Abstract

Books in this series are published to communicate the results of Bank research, analysis, and operational experience with the least possible delay. The extent of language editing varies from book to book. This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved.

Shaping the Post-Conflict Landscape? The Role of Constitutions in Natural Resource Governance

“…No-one would argue that a constitution can resolve the problems that countries emerging from conflict confront in implementing sound fiscal arrangements. Setting out a framework for proper management of public finances, however, as a system that 'aims to ensure that public expenditure is well planned, executed, accounted for and scrutinised' (Kristensen et al 2019), is a start.…”

India’s Public Financial Management System: Need for Reforms and Way Forward

“…There is consensus in the literature that the objectives of PFM are achieving aggregate discipline, allocative efficiency, and operational efficiency (Kristensen et al, 2019). Along similar lines, the Fifteenth Finance Commission (2020) in its report identified four overarching objectives of PFM, namely aggregate fiscal discipline, strategic budgeting and planning, operational efficiency, and accountability and transparency:…”

Gender budgeting in emerging economies–a systematic literature review and research agenda

“…Second, the status of public financial management (PFM) institutions in EEs (in terms of laws, instruments and processes) lags behind high-income economies, as demonstrated by some of the few worldwide studies on PFM development (IMF, 2014(IMF, , 2015. For example, the Public Expenditure and Financial Accountability (PEFA) framework ranks PFM systems on a scale from A to D (Kristensen et al, 2019). While the PEFA scores demonstrate improvements over the years, lower-middle-income countries scored slightly above B on average and upper-middle-income countries Cþ in 2017, which shows room for improvement (ibid.).…”