TY - BOOK ID - 84543254 TI - The Challenge of Reforming Budgetary Institutions in Developing Countries PY - 2009 SN - 1462321461 145276218X 1283511940 9786613824394 1451989253 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Accounting KW - Budgeting KW - Public Finance KW - National Budget KW - Budget Systems KW - National Government Expenditures and Related Policies: General KW - Public Administration KW - Public Sector Accounting and Audits KW - Forecasts of Budgets, Deficits, and Debt KW - Budgeting & financial management KW - Public finance & taxation KW - Public finance accounting KW - Budget planning and preparation KW - Fiscal accounting and reporting KW - Public financial management (PFM) KW - Expenditure KW - Medium-term budget frameworks KW - Budget KW - Finance, Public KW - Expenditures, Public KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84543254 AB - The paper notes that the development of sound budgetary institutions in countries such as France, the U.K. and the U.S. has taken a very long time?200 years or more?and is still evolving. It discusses Douglass North's prediction?which is supported by available data?that institutional reform is also likely to be very slow in developing countries since the budget is especially prone to rent-seeking influences. Finally, the paper discusses the currently fashionable emphasis on complex, multiannual PFM reform strategies, which have been strongly promoted by the donor community; and advocates a simpler approach grounded on Schick's important principle of "getting the basics right." The paper identifies several areas where further research would be fruitful. ER -