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"INTERGOVERNMENTAL FINANCE"
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Municipal finances
This handbook aims to help local government practitioners, particularly staff of medium and large cities, improve strategic management of municipal finances. The demands for pragmatic knowledge are fueled in part by decentralization and fiscal pressures, as transfer of responsibilities from central to local governments are not often accompanied with an adequate transfer of resources. Practitioners seek ideas and tools to control expenditures, strengthen revenues, as well as to tap large external funds, achieve creditworthiness, and adopt good borrowing practices. Advocating sound municipal management based on improved governance and enhanced accountability, this handbook provides a comprehensive picture of municipal finances with a broad scope. The eight chapters cover such topics as fiscal decentralization and intergovernmental finances; management of metropolises; instruments of good financial management; management of revenues, expenditures, assets, and external resources; and performance measurement. Focusing on the perspectives of local officers, this handbook combines theory, pragmatic how-to advice, best practices from global experiences, and possible solutions.
eBook
Social sector in a decentralised economy : India in the era of globalisation
\"\"Provides critical insights into the effectiveness of public expenditure through benefit incidence analysis of education and healthcare services in India\"--Provided by publisher\"-- Provided by publisher.
Book
Anatomy of intergovernmental finance for essential public health services in China
Background
The Chinese government launched health care reforms in 2009 and introduced a national list of essential public health services (EPHS) as an integral part of the plan to deliver health care for all. EPHS was also built into the national plan to promote the equalisation of public services across the country. A national standard was set for financial input to EPHS. As the services are co-funded by the central and local governments, a robust intergovernmental fiscal system is essential to guarantee that the hundreds of thousands of service providers have adequate financing to meet the service commitment.
Methods
We examined the flow of funds through China’s complex intergovernmental fiscal system to see whether the promise of equal funding for EPHS was implemented, and how the costs were distributed across levels of government. Information was collated from funding documents issued by all levels of governments involved, for a sample that includes the central government, 12 provincial governments, eight prefectural governments and 11 county-level governments. For each level of government, we examined: (i) when and how much funding they disbursed or received from higher levels; (ii) when and how much matching funds were made; and (iii) the allocation rules adopted.
Results
Overall, we found the central government met its commitments for the program on time and in full, and good compliance from local governments in passing through funding from higher levels and as well as meeting their own financial responsibilities. However, we also found the following problems: (i) the involvement of so many levels of government resulted in delays in the disbursement of funds; (ii) the use of outdated population data in calculating required funding resulted in some under-allocation; and (iii) localities that needed funding the most were not well targeted by the distribution of funds.
Conclusion
This study traces how the 2018 subsidy for EPHS was disbursed from the central government to service providers, focusing on the roles played by intermediate levels of subnational governments—provinces, prefectures and counties. In this way, it identifies gaps in the current intergovernmental financing of EPHS and points to areas for further improvement.
Journal Article
Has recentralisation improved equality?: Primary care infrastructure development in China
Since the early 2000s the Chinese Government has undertaken a series of recentralisation efforts. In social policy areas, such efforts are targeted at greater equalisation and inclusiveness. These developments raise a critical question: has recentralisation improved equality? This study explores this question through the lens of primary care infrastructure development, an essential aspect of health care reforms that has received limited attention in the academic literature. Based on an analysis of health yearbooks (2004-2016), other government documents and fieldwork interviews, we find that, despite recentralisation efforts, the financing for primary care infrastructure development has remained highly decentralised. Provincial governments act as important 'intermediaries', reflected by their discretionary power in managing central targets and fundraising behaviour to leverage available resources for outcomes that align with local priorities. Despite an overall capacity increase in primary care infrastructure, significant inequality has remained, which contradicts the central governmentʼs intent to improve equality through recentralisation.
Journal Article
PERSPECTIVES ON THE LAST QUARTER CENTURY OF RESEARCH IN PUBLIC ECONOMICS
The field of public economics has witnessed major developments during the last quarter century. The main drivers of change have been new policy challenges such as increasing income inequality, footloose international capital and globalization, population ageing, global warming, and the response to the Great Recession. The increased focus on empirical testing has been fueled by the availability of better micro administrative datasets, better identification through more credible econometric techniques, as well as new research methodologies, including lab experiments and randomized field controlled trials. This paper provides overviews of general trends of research in public economics from three different important and respected sources and then singles out and highlights several new developments on a short list of research topics.
Journal Article
Reforming regional-local finance in Russia
The exposition is based on an analytical framework covering all ?building blocks? of fiscal federalism: size and structure of jurisdictions, expenditures, revenues, transfers, and borrowing. The application of this framework to Russian settings results in a comprehensive assessment of the state of intergovernmental fiscal relations in Russia.
eBook
Financial development in Latin America and the Caribbean
The financial systems of the Latin America and the Caribbean region (LAC) are at a crucial juncture. After a history of recurrent instability and crisis (a trademark of the region), they now seem well poised for rapid expansion. Since the last wave of financial crises that swept through the region in the late 1990s and early 2000s, financial systems in LAC have continued to gain in soundness, depth, and diversity. The size of banking systems has increased, albeit from a low base; local currency bond markets have greatly developed, both in volumes and in reach over the yield curve; stock markets have expanded; and derivative markets particularly currency derivatives have grown and multiplied. Institutional investors have become more important relative to banks, making the financial system more complex and diversified. Importantly, much progress has been made in financial inclusion, particularly through the expansion of payments, savings, and credit services to lower income households and microenterprises. As evidence of their new soundness and resiliency, financial systems in the region, except in some Caribbean countries, weathered the recent global financial crisis remarkably well. The progress in financial development in LAC no doubt reflects substantial improvements in the enabling environment, lower macroeconomic volatility, more independent and better-anchored currencies, increased financial liberalization, lower currency mismatches and foreign debt exposures, enhanced effectiveness of regulation and supervision, and notable improvements in the underlying market infrastructures (for example, trading, payments, custody, clearing, and settlement). This regional flagship report aims at providing such a stocktaking and forward looking assessment of the region's financial development. Rather than going into detail about sector-specific issues, the report focuses on the main architectural issues, overall perspectives, and interconnections. The value added of the report thus hinges on its holistic view of the development process, its broad coverage of the financial services industry (not just banking), its emphasis on benchmarking, its systemic perspective, and its explicit effort to incorporate the lessons from the recent global financial crisis.
eBook
Intergovernmental fiscal transfers : principles and practice
The design of intergovernmental fiscal transfers has a strong bearing on efficiency and equity of public service provision and accountable local governance. This book provides a comprehensive one-stop window/source of materials to guide practitioners and scholars on design and worldwide practices in intergovernmental fiscal transfers and their implications for efficiency, and equity in public services provision as well as accountable governance.
eBook