Academic literature on the topic 'Financial Sector Reforms'
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Journal articles on the topic "Financial Sector Reforms"
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Maurya, Nagendra Kumar. "Power Sector Reforms and Performance Assessment of Power Sector Utilities of Uttar Pradesh." Indian Journal of Public Administration 66, no. 1 (February 27, 2020): 77–96. http://dx.doi.org/10.1177/0019556120906073.
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A series of power sector reforms were undertaken by the state government aimed at introducing a set of regulatory reforms and at unbundling of what was originally an integrated State Electricity Board. The reforms aimed at segregating production, distribution and regulation functions. Ratification of the Electricity Act 2003 led to a further deepening of the reform process by dismantling monopoly in the power sector. The paper provides an overview of the impact of power sector reforms on the operational and financial performance of the power sector utilities of Uttar Pradesh. Utilising the data obtained from the Uttar Pradesh Power Corporation Ltd. and the Bureau of Public Enterprises, Uttar Pradesh, the paper highlights the status of transmission and distribution losses, aggregate technical and commercial losses, plant load factor, operating and financial performance of the state power utilities of Uttar Pradesh between 2002–2003 and 2015–2016 (the latest point of time for which data is available). In addition to other financial indicators, liquidity, asset management, leverage and profitability ratios have been calculated to analyse the financial performance. The paper concludes that the state power-utilities are yet to cover a long distance to become financially and commercially viable. However, the positive impact of the reform measures has been abundantly visible since the financial year 2012–2013.
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Okwu, Andy Titus, Olusola Babatunde Falaiye, Rowland Tochukwu Obiakor, and Ajibola Joseph Olusegun. "Do banking sector reforms cause economic growth?: Empirical evidence from Africa’s largest economy." Corporate Ownership and Control 13, no. 1 (2015): 553–64. http://dx.doi.org/10.22495/cocv13i1c5p3.
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This paper employed time series data on relevant empirical diagnostics to examine banking sector growth-led nexus within the context of Africa’s largest economy, Nigeria. Diagnostics established stationarity of banking sector indicators and control variables at first difference. Findings showed no causal relationships between banking sector reforms and economic growth in the short-run and that, though liberalisation in particular did not Granger-cause growth of the economy during the study period, banking sector reforms caused growth of the real sector of the Nigerian economy. Hence, the caveat was that long-run growth effects of banking sector reforms on real sectors of economies are functions of policy targets of such banking or financial sectors reform strategies. Consequently, articulation of banking and financial sectors reforms within long-run rather than short-run perspectives and complementarity of liberalisation were recommended.
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Kamasa, Kofi, Isaac Mochiah, Andrews Kingsley Doku, and Priscilla Forson. "The impact of financial sector reforms on foreign direct investment in an emerging economy: empirical evidence from Ghana." Journal of Humanities and Applied Social Sciences 2, no. 4 (June 27, 2020): 271–84. http://dx.doi.org/10.1108/jhass-11-2019-0077.
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Purpose This paper aims to empirically investigate the impact that financial sector reforms have on foreign direct investment (FDI) in Ghana. Design/methodology/approach Composite financial sector reform index was constructed, which was made up of various forms of reform policies that were implemented from 1987 to 2016. The auto regressive distributed lag bounds test was used to establish cointegration between variables. Having controlled for other covariates that affect FDI such as trade openness, exchange rate, gross domestic product per capita, inflation and by using the fully modified ordinary least squares method, the estimations are robust as it uses a semi-parametric correction to avoid for any possible issues of endogeneity and serial correlation. Findings Results from the paper reveal that financial sector reform deepening boost FDI with a 2.167% increase in FDI following from a unit percentage improvement of the financial sector reforms. Considering the various categories of reforms, the results reveal that competitive reforms have the highest impact on FDI followed by privatization reforms with positive and significant elasticity coefficients of 2.174% and 0.726%, respectively. Behavioral reforms revealed a positive effect on FDI, albeit insignificant. Originality/value The paper contributes to policy by providing empirical evidence on the effect of financial sector reform on FDI inflows in Ghana. As far as the review of literature is concerned, this paper provides the foremost empirical evidence on the subject with sole emphasis on Ghana. Thus, this paper suggests the deepening of the financial sector reforms, improving competition and maintaining macroeconomic stability.
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Krinichansky, K. V., and B. B. Rubtsov. "Financial sector regulation on the agenda of economic Policy reforms." Finance: Theory and Practice 26, no. 5 (November 8, 2022): 6–21. http://dx.doi.org/10.26794/2587-5671-2022-26-5-6-21.
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The aim of the research is to identify trends that set the agenda of the structural reforms of OECD countries, as well as of the organization’s partner countries, in the context of the place of financial sector reforms in it.The authors apply the following methods: content-analysis of sources, monitoring of directions and instruments of economic policy in the financial sector, analysis of approaches used by international organizations in order to determine reform priorities (benchmarking), and decomposition of the components of the financial sector reform agenda. The paper shows that the agenda of financial liberalization, formulated in the 1970s, is mostly exhausted, although a certain gap remains between countries with developed and emerging markets in terms of the financial liberalization index. Financial regulatory reforms focused on the goal of building a more resilient global financial system, formulated in the aftermath of the 2007–2009 crisis, are affecting all countries and are also ending. Reforms are now coming to the fore, focusing on areas of the structural transformation agenda such as inclusive growth and an environmental perspective.The paper concludes that the main components of financial reforms in an inclusive context are financial inclusion, financial and digital literacy. In terms of the environmental agenda, the countries are focusing on the tasks of directing financial resources to the implementation of the UN sustainable development goals, introducing ESG investment principles for financial institutions, and developing and implementing principles for issuing green financial instruments.
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Andilile, James, and Saganga Mussa Kapaya. "A Review of the Impact of Reforms on Financial Viability and Sustainability of Tanzania’s Power Sector." Applied Economics and Finance 8, no. 6 (November 5, 2021): 47. http://dx.doi.org/10.11114/aef.v8i6.5398.
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In Tanzania, reforms were mooted in the 1990s to solve two intertwined problems; the financing of investment and reducing the fiscal drain on the government to the sector. This study deploys the ARDL Model and paired-sample t-statistic tests, with profitability and liquidity data from 1989 to 2020 to examine the impact of the reforms on sectoral financial condition in Tanzania. The results suggest that both profitability and liquidity did not significantly improve after reforms. Apart from commercialization policy, other variables were not statistically significant with privatization and liberalization law exerting a negative pressure on liquidity. The findings, therefore, appear to contradict the theoretical view that the reforms improve the financial condition of both the sector and the governments. The outcome can be explained by unfinished reforms manifested by continued politicization of the sector hence underpricing and underinvestment. To ensure sectoral financial viability and sustainability we recommend that the reform policies such as commercialization, corporatization, and independent regulation should be prioritized. These findings will add value to policymakers in Tanzania and beyond which are reforming their power sectors by recognizing that efficient pricing and investment are key for a viable and sustainable financial condition of the sector.
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Ibhagui, Oyakhilome. "Financial Reforms, Capital Investment and Financial Intermediation in China." South Asian Journal of Macroeconomics and Public Finance 9, no. 1 (December 12, 2019): 58–86. http://dx.doi.org/10.1177/2277978719875624.
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China has witnessed remarkable changes in its capital investment and financial system since initiating economic and financial sector reforms more than three decades ago. However, there is a dearth of studies examining what impact these reforms have had on financial intermediation, measured by credit growth, in the country. This article addresses this vacuum and investigates the effect of financial sector and capital investment reforms on credit growth in China between 1986 and 2016. We examine how real interest rate (the financial reform indicator) and gross fixed capital formation (the economic capital investment indicator) are linked with financial intermediation in China. Our empirical results suggest that although gross fixed capital formation positively influences credit growth, there is no evidence that real interest rates influence credit growth in China. The main message is that credit has grown in China, not because of financial intermediation but because of the increased need to finance growing fixed capital investment. JEL Classification: E43, E44, F65
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Munasib, Abdul, Devesh Roy, and Xing Chen. "Financial Reforms and International Trade." B.E. Journal of Economic Analysis & Policy 14, no. 4 (October 1, 2014): 1237–81. http://dx.doi.org/10.1515/bejeap-2013-0104.
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Abstract We provide evidence that financial reforms (over 1976–2005) significantly affected exports, in particular, of industries with higher external capital dependence and low asset tangibility. The coverage of reforms is comprehensive, encompassing the banking sector, interest rates, equity and international capital markets. Our methodology improves upon existing studies by controlling for time-varying unobserved exporter characteristics and unobserved country-specific industry characteristics. We find significant effects of various reforms with diverse impacts by intensity. Further, event studies that incorporate possible anticipated and lagged effects of commencement of reform policies confirm the findings.
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International Monetary Fund. "Financial Sector Reforms and Monetary Policy." IMF Working Papers 91, no. 127 (1991): i. http://dx.doi.org/10.5089/9781451854947.001.
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Varma, Jayanth R. "Indian Financial Sector Reforms: A Corporate Perspective." Vikalpa: The Journal for Decision Makers 23, no. 1 (January 1998): 27–38. http://dx.doi.org/10.1177/0256090919980105.
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Until the early 90s⁄ corporate finance managers in India were given very little freedom in the choice of key financial policies as the government regulated the pricing of debt and equity instruments and directed the flow of credit. Financial sector reform over the last six years has exposed managers to complex financial choices amidst increased volatility of interest rates and exchange rates, and made them accountable to an increasingly competitive financial marketplace. Nevertheless, the slow pace of financial liberalization so far has given Indian corporates the luxury of learning slowly and adapting gradually. Gradualism has also meant that there is a large unfinished agenda of financial sector reforms. According to Jayanth Varma⁄ Indian companies should now prepare themselves for further changes that lie ahead. The East Asian crisis is a warning for the Indian corporate sector to pursue more prudent and sustainable financial policies.
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Ogawa, Sumiko, Joonkyu Park, Diva Singh, and Nita Thacker. "Financial Interconnectedness and Financial Sector Reforms in the Caribbean." IMF Working Papers 13, no. 175 (2013): 1. http://dx.doi.org/10.5089/9781484307830.001.
Full textDissertations / Theses on the topic "Financial Sector Reforms"
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Simatele, Munacinga. "Financial sector reforms and monetary policy in Zambia." Göteborg : Dept. of Economics [Nationalekonomiska institutionen], Handelshögsk, 2004. http://www.handels.gu.se/epc/archive/00003481/01/Simatele_avhandl.pdf.
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Newberry, Susan Margaret. "New Zealand's Public Sector Financial Management System: Financial Resource Erosion in Government Departments." Thesis, University of Canterbury. Accountancy, Finance and Information Systems, 2002. http://hdl.handle.net/10092/862.
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New Zealand's public sector reforms have been hailed as a model of theoretical consistency and coherence. The associated financial management reforms, known internationally as new public financial management (NPFM), were world-leading although they are no longer unique. The underlying nature and intent of public sector reforms have been the subject of considerable debate internationally. Early public sector reforms openly sought privatisation, often on ideological grounds. However, in the face of gathering public opposition, public discussion of privatisation softened. NPM and NPFM have been promoted instead mainly on more pragmatic grounds such as improving public sector performance. In New Zealand, the Public Finance Act 1989 is the key legislation underpinning the financial management reforms. The Act delegates regulatory powers to the Treasury and, over time, a considerable body of secondary regulation, including accounting rules, has been developed. However, this secondary regulation, and its contribution to the success or otherwise of the public sector reforms, has not been examined in detail to date. In 1999, New Zealand s Controller and Auditor-General suggested that the financial management system erodes government departments resources and that somehow this resource erosion escapes parliamentary scrutiny. The Treasury, on the other hand, defended the foundations of the financial management system as solid, arguing that retention of the existing framework would allow further and faster progress towards improved performance and value-for-money than would be achieved by a new set of reforms. This debate prompts questions whether and, if so, how and why a financial management system, ostensibly implemented to improve the performance and accountability of the public sector, could be linked to such effects, and whether parliamentary scrutiny is indeed avoided. This thesis examines the secondary regulation and explains the development of the financial management system with the intention of answering those questions. The analysis undertaken in this thesis suggests that New Zealand's public sector financial management system fabricates the conditions under which privatisation initiatives might be accepted for pragmatic reasons. The erosion of departments financial resources is an essential mechanism in that fabrication process. As this system has developed, the time available for parliamentary scrutiny has reduced and the Controller and Auditor-General s controller function has been eroded, while the control and discretion exercised within the Treasury has increased. Arguably, these developments have helped to conceal the system s privatising intent. The thesis identifies features of the financial management system used to rationalise the financial resource-eroding processes. It also notes that if New Zealand's financial management system is no longer unique, then other NPFM systems may contain a similar combination of features.
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Zgambo, Peter. "Financial sector reforms and interest rate determination in Zambia." Master's thesis, University of Cape Town, 2005. http://hdl.handle.net/11427/5672.
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Includes bibliographical references (leaves 67-75).This thesis is concerned with an empirical investigation of the determinants of lending rates in Zambia in the aftermath of financial sector reforms. Cointegration techniques in a multivariate framework are employed to investigate the issue. Empirical findings indicate the presence of long-run cointegrating relationships between the lending rate, money supply, expected inflation, domestic debt, expected domestic currency depreciation or appreciation and foreign interest rates.
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Laurenceson, James Stuart. "China's financial sector reforms and their impact on economic development /." St. Lucia, Qld, 2001. http://www.library.uq.edu.au/pdfserve.php?image=thesisabs/absthe16239.pdf.
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Adu, Abraham. "The role of financial sector reforms in Ghana : econometric and CGE analyses." Thesis, University of Hull, 2016. http://hydra.hull.ac.uk/resources/hull:14771.
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Munene, Daniel. "Financial reforms and interest rate spreads in the commercial banking sector in Kenya." Thesis, Rhodes University, 2006. http://hdl.handle.net/10962/d1007711.
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Financial reforms were a major component of structural adjustment programs deemed necessary for developing countries in the mid 1980s. These were not only meant to improve the sector, but would ultimately enhance economic growth and help in poverty alleviation. At the top of these reforms was financial liberalisation. Kenya, like many other sub-Saharan African countries, undertook financial liberalisation in 1991, one of the measures was decontrolling interest rates. With market driven interest rates in place it was assumed that there would be increased efficiency in bank lending, as well as growth in credit availability as deposits increased. A key indicator of this improved intermediation process would be a narrowing interest rates spread, that is, the margin between the deposit and lending rate. Paradoxically, however, the expected benefits of these reforms did not accrue to Kenya's banking sector. This study focuses on financial reforms and the spread of interest rates in Kenya's banking sector. Using a trend analysis, spanning the period before and after liberalisation, interest rates spread are shown to have escalated dramatically upwards after liberalisation. An analysis of three macroeconomic variables, namely, the exchange rate, inflation rate and economic growth offer little, or inconclusive evidence, that they were the main causes of the wide interest rate spread. In fact, the spread is closely linked to institutional/structural factors such as non-competitiveness in the banking sector, imprudent lending practices and poor and/or inadequate banking supervision. Policies for improving the institutional infrastructure and thus moderating the spreads are highlighted.
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Wan, Latifah W. M. "Financial sector reforms in the ASEAN economies in the 1980s : macromodelling of debt and twin deficits." Thesis, University of Nottingham, 1994. http://eprints.nottingham.ac.uk/11541/.
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This thesis addresses issues of debt and the twin deficits - two serious ‘economic ills’. The central issue in this thesis (Part II) is on macromodelling of the twin deficits in an attempt to identify their determinants. This involves an investigation of the underlying theory and empirical evidence to show the workings of the links between debt and the twin deficits and between the twin deficits themselves. The usual practice in both theory and in empirical work, is to take the accounting identity and one or two other variables that are hypothesised to have effects on the twin deficits and posit causal linkages. We try to avoid this by building on the stylized facts on each of the macroeconomic aggregates and linking them to debt issues in building a full structural model of debt and the twin deficits. We arrive at a system of simultaneous equations, which none of the previous theory or empirical work has derived. We rename the deficit system of simultaneous equations which incorporates a debt identity and an output equation the `new twin deficits' model – signifying a departure from the conventional wisdom discussed in the literature survey. With the macromodel, we address three issues simultaneously, which are: (1) the linkages between twin deficits and increased indebtedness. (2) the details of internal policies that have effects on the twin-deficits and increased indebtedness. (3) the linkages between debt, twin-deficits and output. The first issue involves the broader mechanism that explains the link between the government, the private and the external sector balances, and their links to changes in debt. Previous studies on the twin deficits covers the first part of this issue and gives evidence for the U. S. that the government sector caused the unprecedented level of external deficits in the mid 1980s and early 1990s. In our case, we argue that the change in debt equals the external deficits because according to our findings in Part I debt and deficits seem to co-move. Our macromodel also focus on the second issue, that is, the details of the internal policies that affect each of the three sector deficits and eventually increased indebtedness. The variables involved are numerous such as tax policies (rates, revenue elasticities, etc. ), financial policies (interest rates, investment versus savings behaviour, etc. ), trade policies (import liberalisation/control, exports strategies, exchange rates, prices, etc. ), debt policies, etc. as shown in the system of simultaneous equations in Chapter 5. Although the variables are numerous, there are some common ones appearing together in either two or all three of the system of equations which are expected to cause co-movements in the system. Obviously, consideration has to be made on their significance, magnitude and signs. The third issue involves recognising the supply side in response to debt and deficits which are demand-side management. The model thus ensures not only equilibrium in the internal and external sectors but also equilibrium in aggregate supply and the aggregate demand. The former equilibrium always holds because the identity serves as a constraint. For the latter equilibrium to hold, either one or a combination of the price variables found in the system adjust to maintain equilibrium in the short-run, while output adjusts to maintain equilibrium in the long-run. Having outlined the core of the thesis, it is appropriate to comment on the other parts. Part I presents the roots of debt and deficits; how developing countries accumulated debt and how it became a crisis in the 1980s. The debt and deficits situation in ASEAN in the 1980s is a particular focus. The essence of debt problem seems to be the adverse economic situation of the 1980s, against the background of mounting accumulation of debt. Exogenous shocks such as the second oil shock, terms of trade shocks, interest rates hikes, dollar exchange rate appreciation, are among the factors that are associated with debt problems. Debt and deficits co-move in the representative Latin American and ASEAN countries. Differences among regional experiences are highlighted. For example the African countries went into debt problem not because of debt accumulation. The main crux of their problem is non-performance export sector. Excessive lending by creditors are associated with the Latin American countries, apart from loans contracted on floating rates which are associated with valuation changes and capital flight. The ASEAN region moved towards yen credit in the mid 1980s, presumably insulating their economy with further spill-overs from other NICs' recycling of surpluses. The differences in experiences necessitates different treatment, or case by case approach to debt problems. In Part III, we present some empirical work on aspects of debt management. Debt servicing capacity or creditworthiness is examined using the logit approach. We builtin the marginal and elasticity analysis into the logit model so as to identify which variables are the most significant determinants. The exercise combines variables taken from the balance of payments and financial variables from the balance sheet to detect which variables cause debt servicing breakdown. The breakdown of debt servicing capacity is proxied by reschedulings, taken in terms of probabilities because it is not known a priori that a debtor will become illiquid and unable to repay interest payments falling due. We postulate that it is the foreign exchange scarcity, measured by their net borrowing requirements which comprise of the current account deficits including interest repayments and the principal due, that drive a country to demand for rescheduling. We investigate the determinants of rescheduling for each region separately to capture the differences in their experiences with indebtedness. The most important determinants of rescheduling are; the ratio of the current account deficits to export, the reserves to import ratio and the total debt to exports. In the African sample, the current account deficits to exports, the total debt to exports and the use of IMF credits are the most important determinants for rescheduling. As in the case of the Latin American countries, The current account deficits to exports, the debt service ratio and the use of IMF credit are most important. In ASEAN, the debt service ratio appears to be the single most significant ratio. Thus, the differences in experiences among regions, a cross section for all developing countries will ignore the uniqueness of each region in running into debt servicing difficulties. In the last part of the thesis, the exchange rate management is discussed in Chapter 7, relating exchange rate to import and export demand function to eventually determine the contribution of foreign exchange, through the elasticity approach, towards foreign exchange earnings and reducing debt service. Debt service seems to have links with exchange rates movements. We suggest that devaluation does have positive effects in the ASEAN countries to increase its foreign exchange earnings. Finally, we conclude and suggest some policy implications, especially pertaining to our twin deficit model. It is hoped that ASEAN would turn the already huge debt accumulation to more profitable investments so that not only timely repayment of loans is possible, the growth of output is ensured and the sustained industrialisation is possible!
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Chacón, Ramos Elvia Noemi, and Vega Michael Smit Luque. "El Régimen Mype Tributario y su impacto financiero en las empresas del sector peluquería del distrito de Miraflores, año 2017." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/628032.
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El presente trabajo de investigación tiene como objetivo determinar El Régimen Mype Tributario y su impacto Financiero en las empresas del sector peluquería del distrito de Miraflores, año 2017, para esto es imprescindible realizar un análisis a la Ley y su reglamento, en este sus requisitos, obligaciones, el pago de sus impuestos y su impacto financiero. Este trabajo se encuentra conformado en 5 capítulos que son:
Capítulo I Marco teórico, se realiza una investigación de fuentes primarias, donde se desarrollan conceptos del código tributario, regímenes tributarios y otros donde se contextualice la Ley, y la relación e impacto que origine a la información financiera de la empresa. Capítulo II Plan de investigación, se plantea la situación problemática de la tesis, el problema principal, problemas específicos, objetivo general y objetivos específicos, la hipótesis inicial e hipótesis específicos. Capítulo III Metodología de investigación, se definió la población, la muestra para las investigaciones cualitativas y cuantitativas de esta tesis. Capítulo IV Desarrollo de investigación, se realiza la investigación a través de la entrevista a profundidad a expertos en el tema tributario y financiero en asesorar empresas consideradas Mypes, el cual va dirigido este trabajo de investigación; encuestas a empresas de este rubro y el desarrollo práctico de ésta. Capítulo V Análisis de resultados, se realiza el análisis de los instrumentos y caso práctico; se concluye con la validación de la hipótesis general y específicas en base a los resultados obtenidos en las tablas cruzadas y Chi cuadrado, luego que hayamos realizado este análisis se concluye según las hipótesis planteadas, de acuerdo a la hipótesis general que el Régimen Mype Tributario impacta Financieramente en las empresas del sector peluquería en el distrito de Miraflores, año 2017, también se concluye según las hipótesis específicas que el acogimiento, las obligaciones formales y la declaración y pago de impuestos del Régimen Mype Tributario impactan Financieramente en estas empresas; todas estas afirmaciones se confirman en el análisis de los ratios financieros que varían según el régimen tributario al que se pertenece.The objective of this research work is to determine the Mype Tax Regime and its impact on the financial statements of companies in the hairdressing sector of Miraflores district, 2017, for this it is essential to carry out an analysis of the Law and its regulations, in this their requirements, obligations, the payment of their taxes and their financial impact. This work is made up of 5 chapters that are: Chapter I Theoretical framework, an investigation of primary sources is carried out, where concepts of the tax code, tax regimes and others are developed where the Law is contextualized, and the relation and impact that originates to the financial information of the company. Chapter II Research plan, the problematic situation of the thesis, the main problem, specific problems, general objective and specific objectives, the initial hypothesis and specific hypotheses are presented. Chapter III Research methodology, the population was defined, the sample for the qualitative and quantitative investigations of this thesis. Chapter IV Research development, research is carried out through an in-depth interview with experts in the tax and financial field in advising companies considered Mypes, which is aimed at this research work; surveys to companies of this heading and the practical development of this one. Chapter V Analysis of results, the analysis of the instruments and practical case is carried out; we conclude with the validation of the general and specific hypothesis based on the results obtained in the crossed tables and Chi square, after we have made this analysis, we conclude according to the hypotheses, according to the general hypothesis that the Mype Tax Regime has an impact In the Financial Statements of the companies of the hairdressing sector in the district of Miraflores, year 2017, it is also concluded according to the specific hypothesis that the reception, the formal obligations and the declaration and payment of taxes of the Mype Tax Regime have an impact on the Financial Statements of These companies; All these statements are confirmed in the analysis of the financial ratios that vary according to the tax regime to which they belong.
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Nannyonjo, Justine. "Financial sector reforms in Uganda (1990-2000) : interest rate spreads, market structure, bank performance and monetary policy /." Göteborg : Nationalekonomiska institutionen, Handelshögsk, 2002. http://www.handels.gu.se/epc/data/html/html/2055.html.
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Soyeju, Olufemi Olugbemiga. "Public assets financing in Nigeria : the imperatives for legal reforms to unlock domestic financial resources and foreign capital for infrastructure development." Thesis, University of Pretoria, 2012. http://hdl.handle.net/2263/24525.
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Infrastructure is one of the main parameters of economic growth and a country‘s competitiveness depends on the provision and maintenance of efficient and productive infrastructure assets. However, Nigeria, like most countries in Sub-Saharan Africa has the lowest quantity and poorest quality of stocks of infrastructure assets in the world and this phenomenally poor infrastructure has remained an impediment to development in the country. Decades of sub-optimal investment, poor maintenance culture and the fact that the required infrastructure investments could not be accommodated within the available fiscal space as a result of budgetary constraints have all contributed to the Nigeria‘s infrastructure deficit. The immediate outcome of this however is that the available infrastructure assets across the Nigerian landscape are in decrepit state and absurdly inadequate. Besides, the present demand for basic infrastructure services has grown astronomically out-stripping the supply capacity of the existing ones. Closing the infrastructure financing gap will however require increased investment by private investors through creative financing in an enabling legal and financial environment. Outside the budgetary constraints, the absence of efficient maintenance and management of infrastructure assets and quality service delivery by the public sector are some of the reasons why procurement of public infrastructure stocks by government through the traditional approach is no longer plausible and hence, the general appeal of the public-private partnership framework. However, despite all the potentials, the public private partnership technique in Nigeria has not made an appreciable impact in closing the infrastructure gaps due to lack of access to long-term financing. It is against this back-drop that this study has sought to investigate how reforms of the legal and financial infrastructure could widen access to financing through innovative financial resource mobilization in scaling-up infrastructure development and service delivery to the teeming Nigeria population. Therefore, the central thesis of this study is that the inadequacy of appropriate laws and inefficient financial system are partly responsible for the huge financing gaps in the Nigeria‘s infrastructure market and with the legal and financial reforms, an enabling legal and financial environment that would open up space for resource mobilization through innovative financing techniques and sources will be created thereby widening access to long-term financing and increasing the appetite for private investment in the nation‘s public infrastructure assets and services. So, the overarching objective of this thesis is to explore how legal and financial system reforms can facilitate the development of financial models and instruments that can help mobilize financial resources to fund infrastructure and bridge the huge infrastructure financing gaps in Nigeria in a sustainable fashion. Given the infrastructure poverty that constrains economic growth and development in Nigeria, the outcomes of this proposed study would help inform the need for the legal and financial system reforms to unlock resources in addressing the problems of financing gaps in infrastructure projects development in Nigeria. Besides, such outcomes based on the Nigerian experience in infrastructure financing and development may be turned into valuable knowledge for policy –making and further research in Nigeria. CopyrightThesis (LLD)--University of Pretoria, 2012.
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Books on the topic "Financial Sector Reforms"
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Gelb, Alan H. Financial sector reforms in adjustment programs. Washington, DC: Country Economics Dept., World Bank, 1989.
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Fund, International Monetary. Financial sector reforms and monetary policy. Washington, D.C: International Monetary Fund, 1991.
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Sen, Kunal. Financial sector reforms in India, 1991-1994. Canberra, Australia: Research School of Pacific and Asian Studies, The Australian National University, 1996.
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Sharan, Vyuptakesh. India's financial sector: An era of reforms. New Delhi: SAGE Publications, 2009.
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India's financial sector: An era of reforms. New Delhi: SAGE Publications, 2009.
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Financial sector reforms and India's economic development. Delhi: Academic Foundation, 2002.
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Fund, International Monetary, ed. Sequencing of financial sector reforms: A review. Washington, D.C: International Monetary Fund, 1994.
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Asian perspectives on financial sector reforms and regulation. Tokyo: Asian Development Bank Institute, 2011.
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Kinyua, Wilson. Reforms for enhanced performance of Kenya's financial sector. Nairobi: African Centre for Economic Growth, 2004.
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Seminar on Financial Sector Reforms (1998 Shimla, India). Seminar on Financial Sector Reforms, 27th April 1998. Shimla: National Academy of Audit & Accounts, 1998.
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Claessens, Stijn, Swati Ghosh, and David Scott. "Korea’s Financial Sector Reforms." In The Asian Financial Crisis: Origins, Implications, and Solutions, 167–92. Boston, MA: Springer US, 1999. http://dx.doi.org/10.1007/978-1-4615-5155-3_15.
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van Helden, Jan, and Ron Hodges. "Public sector financial management reforms." In Public Sector Accounting and Budgeting for Non-Specialists, 205–26. London: Macmillan Education UK, 2015. http://dx.doi.org/10.1007/978-1-137-37699-2_10.
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Teranishi, Juro. "Financial Sector Reform after the War." In The Japanese Experience of Economic Reforms, 153–77. London: Palgrave Macmillan UK, 1993. http://dx.doi.org/10.1007/978-1-349-22705-1_7.
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Kishimba, Khadijah J., Joseph O. Akande, and Paul-Francois Muzindutsi. "Financial Sector Reforms and the Significance to Banking Sector in Tanzania." In Corporate Finance and Financial Development, 103–28. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-031-04980-4_7.
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Lane, Timothy D. "Financial Sector Reforms: Banking, Securities, and Payments." In International Studies in Economics and Econometrics, 247–67. Dordrecht: Springer Netherlands, 1994. http://dx.doi.org/10.1007/978-94-015-8366-4_13.
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Sathye, Milind. "Financial Sector Reforms in India: A Stocktake." In Economic Growth, Economic Performance and Welfare in South Asia, 209–24. London: Palgrave Macmillan UK, 2005. http://dx.doi.org/10.1057/9780230520318_10.
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Sharif, Naubahar, and Athar Mansoor. "Pakistan Post and the Creation of an Innovative Business Model to Enhance Financial Inclusion." In Public Sector Reforms in Pakistan, 251–73. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-96825-0_11.
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Manes Rossi, Francesca, Eugenio Caperchione, Sandra Cohen, and Isabel Brusca. "Financial Management and Public Sector Accounting in an Age of Reforms: Developments and Changes in Public Sector Financial Management." In Public Administration in Europe, 235–46. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-92856-2_22.
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Nissanke, Machiko. "African Experiences with Financial Sector Reforms: What Has Been Achieved So Far?" In Deregulation and the Banking Crisis in Nigeria, 129–67. London: Palgrave Macmillan UK, 2002. http://dx.doi.org/10.1007/978-1-349-65081-1_7.
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Yakupçebioğlu, Necdet Sıtkı. "Public Sector Accounting Reform in Turkey: Moving Cash to Accrual Accounting." In Public Financial Management Reforms in Turkey: Progress and Challenges, Volume 2, 177–95. Singapore: Springer Singapore, 2020. http://dx.doi.org/10.1007/978-981-15-4226-8_10.
Full textConference papers on the topic "Financial Sector Reforms"
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MUHARREMI, Oltiana, Lorena CAKERRI, and Filloreta MADANI. "Impact of Fiscal Decentralization Reforms in Albania." In Current Trends in Public Sector Research. Brno: Masaryk University Press, 2020. http://dx.doi.org/10.5817/cz.muni.p210-9646-2020-10.
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Decentralization and fiscal decentralization constitute one of the most followed trends for political and economic reform in recent years around the world. Albania, in the 1990s, begins its process of transitioning from a centralized economy to a free-market economy. This process is accompanied by transforming existing economic mechanisms and infrastructure to better function the free-markets model, but above all, with the need to develop and create new legal, institutional, economic, and social instruments and spaces to increase the allocation and efficiency of public and private resources. The objective of this study is to give an appropriate answer to the question: What has been the impact of decentralization reforms on the performance of public services provided by local government? The research paper will focus on the role that improvements and legislative changes play in the country's economic growth. Within the past two decades, progress is made in advancing decentralization reform, but there are still many challenges ahead, such as the lack of a clear legal and regulatory framework. Adding to that concern is the financial autonomy of local governments, which remains a challenge for the future. The research methodology used will be a descriptive analysis of data obtained from the Ministry of Finance and Economy and local municipalities on the impact of the reforms. Recommendations and suggestions will be given on the reforming process, as well as ways to increase the efficiency of local government units.
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Čulo, Ksenija, Vladimir Skendrović, and Goran Puž. "Croatian road sector management challenges." In 6th International Conference on Road and Rail Infrastructure. University of Zagreb Faculty of Civil Engineering, 2021. http://dx.doi.org/10.5592/co/cetra.2020.1069.
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The road network in the Republic of Croatia is well developed and largely responds to traffic needs. The motorway network is largely built up and no major new investment is needed in the short term. The national road network is in good standing according to national and EU standards. However, public road management companies face operational and financial challenges in terms of: (a) overinvestment in the network; (b) weak governance; (c) high operating costs; (d) large debt stock; (e) short tenor of existing loans; (f) currency risk and (g) insufficient credit strength to access the loan market for long tenors on a stand-alone basis. The Government of the Republic of Croatia has therefore decided to address these chellenges and launched a project funded by IBRD called the Modernization and Restructuring of the Road Sector (MARS) aiming to enhance operational efficiency and improve the financial sustainability of the road sector. To these ends, the Government has approved a Sector Policy Letter, which contains a set of planned reforms. To ensure the contribution of the road sector to the overall economy, in addition to the financial sustainability of the sector itself, operational improvements are needed in the following key areas: (a) management of the road infrastructure sector; (b) planning, financing and implementation of investments in the road sector; (c) corporate governance and business operations. Much of the reform has already been implemented, but some of the most important are still in the process of being implemented.
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Rahmanov, Farhad, and Elchin Suleymanov. "Analysis of Innovative Potential in Healthcare Management of the Republic of Azerbaijan." In International Conference on Eurasian Economies. Eurasian Economists Association, 2020. http://dx.doi.org/10.36880/c12.02357.
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In the paper we have studied the progress and results of reforms in the healthcare system of Azerbaijan, the role of national programs for the modernization of various health sectors in strengthening public health in context of the problems facing the Azerbaijani economy. A notable progress is being made in the transformation of the delivery system medical care for the population over the years of reform. Particular attention is paid to the issues of medical science, improving the system of training medical personnel, increasing the reliability of medical data, and the introduction of information and communication technologies in the health sector. There is a need to develop and implement a model of the medical information system for medical institutions as a key element in the development of priority national health programs. The paper pays attention to the improvement of the organization, management, and financial support of the medical care system. In this regard, it is noted that it is necessary to apply the most effective ways of organizing medical care and using the available resource potential based on the introduction of innovative management technologies.
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Palmieri, Alessandro, and Blerina Nazeraj. "OPEN BANKING AND COMPETITION: AN INTRICATE RELATIONSHIP." In International Jean Monnet Module Conference of EU and Comparative Competition Law Issues "Competition Law (in Pandemic Times): Challenges and Reforms. Faculty of Law, Josip Juraj Strossmayer University of Osijek, 2021. http://dx.doi.org/10.25234/eclic/18822.
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Open banking – promoted in the European Union by the access to account rule contained in the Directive (EU) 2015/2366 on payment services in the internal market (PSD2) – is supposed to enhance consumer’s welfare and to foster competition. However, many observers are fearful about the negative effects of the entry into the market of the so-called BigTech giants. Unless incumbent banks are able to rise above the technological challenges, the risk is that, in the long run, BigTech firms could dominate the market, by virtue of their great ability to collect data on consumer preferences, and to process them with sophisticated tools, such as Artificial Intelligence and Machine Learning techniques; not to mention the possible benefits arising from the cross-subsidisation. This paper aims at analysing the controversial relationship between open banking and competition. In this framework, many aspects must be clarified, such as the definition of the relevant markets; the identification of the dominant entities; the relationship with the essential facility doctrine. The specific competition problems encountered in the financial sector need to be inscribed in the context of the more general debate around access to data in the digital sphere. The evolving scenario poses a serious challenge to regulators, calling them to strike the right balance between fostering innovation and preserving financial stability. The appraisal intends not only to cover EU law and policy, but also to make a comparison with other legal systems. In this respect, something noteworthy is taking place in the United States where, as of today, consumers’ access to financial data sharing has been largely dependent on private-sector efforts. Indeed, Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (passed in the aftermath of the financial crisis of 2008) provides that, subject to rules prescribed by the Bureau of Consumer Financial Protection (CFPB), a consumer financial services provider must make available to a consumer information, in its control or possession, concerning the consumer financial product or service that the consumer obtained from the provider. This provision, which dates back to 2010, has never been implemented. However, on 22 October 2020, the CFBP has announced its intention to regulate open banking, issuing an advanced notice of proposed rulemaking. In light of their investigation, the authors advocate the adaptation of the current strategies to the modified conditions and, in some instances, the creation of novel mechanisms, more suitable to face unprecedented threats.
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Meparishvili, Davit, Manana Maridashvili, and Ekaterine Sanikidze. "FINANCING AND EFFECTIVENESS OF GEORGIAN HEALTHCARE SYSTEM." In Proceedings of the XXXI International Scientific and Practical Conference. RS Global Sp. z O.O., 2021. http://dx.doi.org/10.31435/rsglobal_conf/30082021/7650.
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Assessing the effectiveness of the Georgian healthcare system in the modern period and conditions, takes into account the results achieved, as well as the main problems that hinder the effective functioning of this important field; At the same time, it is important to develop the main directions of their solution, where we consider the improvement of the state policy-making process during the implementation of reforms in the healthcare sector, which should take into account the state of health of the population, quality of healthcare services, results, health care; furthermore disease prevention, equality, financial provision, access to health care, efficiency, rational allocation of health care system resources and other key features of the health care system.
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Orlova, Valentina. "Banking System of Ukraine under Conditions of Overcoming the Consequences of 2008 Global Crisis." In International Conference on Eurasian Economies. Eurasian Economists Association, 2010. http://dx.doi.org/10.36880/c01.00132.
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In the modern market models state banking system plays the most significant role in the functioning of economic mechanism. It ensures control of total money supply, regulates movement of cash flows, and realizes accumulation and investment of financial resources, crediting different trades and people.
In transition from socialist model of economics to market economy a precondition for the start of reformation of economic relations is multi-branch state banking system.
In the beginning of 1990-s creation of such banking system began in Ukraine. However, crisis situation in economics that developed in 2008 has shown how imperfect and unadapted to the regularities of market economy was banking system in Ukraine.
Now Ukrainian economics like world economy is recovering. However, the problem of growing treasury deficit and national debt becomes issue of the day for the Government as drastic, not predicted variations of foreign currency are able to make an impact on loan market.
The article describes history of building Ukrainian banking system starting from market reforms. It gives analysis of the reasons that have caused collapse of the banking system under conditions of the global economic crisis of 2008. It also evaluates prospects for further development of banking sector in Ukraine.
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Parekh, Harsukh, and Vipin Chandra Sati. "Pipelines Industry in India: Recent Developments and Future Requirements." In 2002 4th International Pipeline Conference. ASMEDC, 2002. http://dx.doi.org/10.1115/ipc2002-27019.
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The consumption of petroleum products in India has been growing at a high rate. In order to meet the growing demand for petroleum, additional refining capacity is planned to be created involving augmentation of some of the existing refineries and construction of new refineries. While the refineries will be in a position to meet the demand of petroleum products, the critical and vital issue will be to supply crude oil to the refineries and to reach the products to various consumption centers in an efficient, reliable and cost effective manner. In addition to the liquid petroleum, Natural Gas is emerging as the major source of energy/feedstock. Infrastructure for storage and transportation of Natural Gas are also required to be set up in a big way to meet the projected demand. This can best be done by constructing new pipelines which are recognized worldwide as the most reliable and cost effective mode of transportation of oil and gas. In addition to the requirement for new pipelines, there is a need for upgradation of technology in the existing cross-country pipelines, many of which are more than 20 years old. Moreover, Indian Government has, as part of the process of liberalisation of the economy through a series of measures focused on the infrastructural developments, technology upgradation, trade policies and financial reforms, has opened the core sector of Petroleum to private investment. Thus, considerable scope exists not only for consultants, equipment and material manufacturers/suppliers and contractors for providing their services but also for making investments in the Indian pipeline industry. This paper describes the prospects/opportunities in the Indian pipeline industry.
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Verulidze, Vazha, and Inguna Leibus. "Trends in the development of agriculture in conditions of tax reform in Georgia." In 21st International Scientific Conference "Economic Science for Rural Development 2020". Latvia University of Life Sciences and Technologies. Faculty of Economics and Social Development, 2020. http://dx.doi.org/10.22616/esrd.2020.53.030.
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At the current stage of development of the Georgian economy and in conditions of existing resources, only the agriculture sector can contribute to the reduction of high levels of poverty and unemployment in the country. Improper assessment of the role and importance of the sector, lack of programmes based on scientific research, inconsistent reforms led to the low competitiveness of Georgian agricultural production and the prevalence of imported products on the internal market. The aim of this paper is to assess the impact of tax reform on the development of the agriculture sector in Georgia, and to compare it with Latvia, as it has been implemented in both countries based on Estonian experience. It is substantiated by means of theoretical and empirical methods applied in the article, that the land reform, implemented in Georgia before the profit tax reform, as well as financing of certain projects in the sector, was carried out without proper analysis and assessment of expected risks. The research concludes that for the development of agriculture sector of Georgia, it is especially important, at the first stage, to elaborate and implement mechanisms of protection of internal market, develop the existing infrastructure, promote cooperative enterprises, extend tax benefits to all spheres of activities of agricultural cooperatives, commence the process of structural diversification and modernization of the sector, and overcome the obstacles existing on external markets.
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Liu, Xinying, Qishan Mu, and Yuqi Chen. "Reform and Improvement in China’s Rural Financial Sector Based on Internet Technology." In 2021 2nd International Conference on E-Commerce and Internet Technology (ECIT). IEEE, 2021. http://dx.doi.org/10.1109/ecit52743.2021.00072.
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Mahmood Majeed Al-Samarai, Naghim, and Saad Mahmood Al-Kawaz. "The impact of banking reform on the performance of financial inclusion in Iraq for the period (2004-2017)." In 11th International Conference of Economic and Administrative Reform: Necessities and Challenges. University of Human Development, 2022. http://dx.doi.org/10.21928/icearnc/25.
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The existence of the need for banking reform in the occurrence of a real and radical revolution in banking transactions from its traditional roots through banking services at the personal or commercial level locally and globally and by measuring the progress of the growth of the Iraqi economy and the extent to which banking systems are effective in the accelerating global changes and in the development of infrastructure and then the work of reform The banking sector specializes in the distribution of resources, which has a positive impact on economic activity. The World Bank considered financial inclusion a main and main focus in its agenda because it contributes to the eradication of poverty and improving the lives of individuals by encouraging small and large investments, which leads to an improvement in the life of the Iraqi individual. The analysis of banking sector data for some economic variables was used and relied on the monetary stability indicator represented in the general level of consumer prices, as well as an indicator of financial inclusion represented by the number of bank deposits and bank credit in Iraq.
Reports on the topic "Financial Sector Reforms"
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Prasad, Eswar. Financial Sector Regulation and Reforms in Emerging Markets: An Overview. Cambridge, MA: National Bureau of Economic Research, October 2010. http://dx.doi.org/10.3386/w16428.
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Bevacqua, Ron, Duong (Sophie) Nguyen, and Don Lambert. Reimagining Viet Nam’s Microfinance Sector: Recommendations for Institutional and Legal Reforms. Asian Development Bank, November 2021. http://dx.doi.org/10.22617/wps210385-2.
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Viet Nam’s new National Financial Inclusion Strategy issued on 22 January 2020, sets out targets for promoting financial inclusion by 2025. Achieving these targets requires considerable support from the microfinance sector as well as other stakeholders in the finance sector. This paper emphasizes the need to prioritize regulatory reform for microfinance development. Otherwise, the microfinance sector in Viet Nam could remain nonprofit rather commercial—making it difficult for the sector to attract wholesale funding. Aside from helping achieve the National Financial Inclusion Strategy, regulatory reform in the microfinance sector can also enable Viet Nam to become more active, prominent, and competitive on a regional level along with its neighbors in Asia.
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Takama, Takesh, Elvine Kwamboka, Mbeo Ogeya, Anne Nyambane, and Rocia Diaz-Chavez. Improving Kenya’s coffee value chain and sector reforms through Sustainable Consumption and Production Practices integration. Stockholm Environment Institute, April 2022. http://dx.doi.org/10.51414/sei2021.036.
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Coffee is an essential player in Kenya’s agricultural sector, yet it has suffered a steady decline in production in the past 40 years. Addressing the sector’s challenges can also advance the UN 2030 Agenda’s 12th Sustainable Development Goal, which is to “ensure sustainable consumption and production patterns,” by incorporating Sustainable Consumption and Production Practices (SCPs) in the coffee value chain. This policy brief explores the potential integration of SCPs across the coffee production chain. We present SCPs that emerged from a series of focus group discussions, stakeholder consultations and surveys, which will minimize environmental impacts and maximize productivity and worker welfare. We also summarize capacity-building measures and financial support required to implement the SCPs at scale. Adopting the recommended solutions can both boost Kenya’s coffee industry and put the sector on a path toward greater environmental sustainability.
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Avellán, Leopoldo, Steve Brito, John Leon-Diaz, and Giulia Lotti. Trends and Features of Policy-Based Lending at the Inter-American Development Bank. Inter-American Development Bank, August 2022. http://dx.doi.org/10.18235/0004438.
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Policy-based lending is an important element within the toolbox of multilateral development banks to assist countries that need budget support and/or that are embarked on institutional changes or reforms. This Technical Note reviews different aspects of policy-based loans (PBLs) to gain a fresh perspective on their structural and financial features. It examines policy-based loans through the lens of their dual goals of providing beneficiary countries with flexible, liquid, and timely funding to meet their financing needs and of supporting policy reforms or institutional changes in a sector or subsector. The discussion identifies general trends in policy-based lending in Latin America and the Caribbean, explores the sectoral allocation of the policy-based loans of the Inter-American Development Bank (IDB), and examines how policy-based loans are combined with other instruments as they provide liquidity and support reforms. It also explores how the IDB compares to other multilateral development banks in Latin America and the Caribbean in terms of policy-based lending.
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Yasuhara, Tsuyoshi. Working Paper PUEAA No. 11. Profit Seeking Model and the Monetary Policy in Japan: cross-border asset holdings via Offshore Financial Centers. Universidad Nacional Autónoma de México, Programa Universitario de Estudios sobre Asia y África, 2022. http://dx.doi.org/10.22201/pueaa.009r.2022.
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Recently, the Junichiro Koizumi and Shinzo Abe administration has adopted labor reforms, and monetary authorities have updated unconventional monetary policies: quantitative easing of money supply and negative interest rate control. It can be identified that quantitative easing policy and negative interest rate policy have introduced and stimulated new styles of profit-seeking through stock market transactions, which only increases corporate and bank profits under a stagnant labor productivity growth rate. Under such a context, this paper analyzes the changing phase of the profit-seeking patterns of the financial and non-financial sector in Japan. The hypothesis is that the large-scale corporate sector has created a new profit-seeking paradigm and that this has been supported by the monetary control of the so-called "Abenomics".
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Khan, Mahreen. Public Financial Management and Transitioning out of Aid. Institute of Development Studies, September 2022. http://dx.doi.org/10.19088/k4d.2022.145.
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This rapid review found an absence of literature focused specifically on measuring the impact of PFM and governance systems in countries that have transitioned from aid, by moving up the income ladder. However, there are a few academic publications and a limited number of studies by multilateral, such as the World Bank, that examine the role of PFM and governance systems in countries that are transitioning or have moved away from aid. However, the importance of public financial management (PFM) and governance systems in development is well established and seen as a pre-requisite for economic growth. To effectively transition from aid, most low-income countries (LICs) need to upgrade their PFM and governance systems to meet the different scale, resources, accountability mechanisms, and capacity-building requirements of a middle-income country (MIC). The absence of the above empirical evidence may be due to the complexity of measuring the impact of PFM reforms as the results are non-linear, difficult to isolate from other policies to establish causality, and manifest in a longer time frame. However, through comparative country studies, the consequences of deficient PFM and governance have been well documented. So impaired budgetary planning, implementation, and reporting, limited fiscal transparency, weak accountability mechanisms, resource leakage, and inefficient service delivery are well recognised as detrimental to economic growth and development. The literature on transitioning countries focuses predominantly on the impact of aid withdrawal on the social sector, where comparative qualitative data is easier to obtain and the effects are usually more immediate, visible, and may even extend to global health outcomes, such as in AIDS prevention programmes. Thus, tracking the progress of donor-assisted social sector programmes is relatively easier than for PFM and governance reforms. The literature is more abundant on the overall lessons of transitions from aid both for country governments and donors. The key lessons underscore the importance of PFM and governance systems and mechanisms to a successful transition up the income ladder: Planning for transition should be strategic, detailed and specifically geared to mitigate against risks, explicitly assessing the best mix of finance options to mitigate the impact of aid reduction/withdrawal on national budgets. The plan must be led by a working group or ministry and have timelines and milestones; Where PFM and governance is weak transition preparation should include strengthening PFM especially economic and fiscal legislation, administration, and implementation; Stakeholders such as donor partners (DPs) and NGOs should participate in the planning process with clear, open, and ongoing communication channels; Political and economic assessments in the planning and mid-term phases as well as long-term monitoring and evaluation should be instituted; Build financial, technical, and management capacity throughout the plan implementation This helpdesk report draws on academic, policy, and grey sources from the previous seven years rather than the usual K4D five-year window, to account for the two-year disruption of COVID-19. As cross-country studies on PFM and governance are scarce, a few older studies are also referenced to ensure a comprehensive response to the query. The report focuses on low-income countries transitioning from aid due to a change in status to lower-middle-income countries.
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Khan, Mahreen. Evaluating External Government Audit. Institute of Development Studies, September 2022. http://dx.doi.org/10.19088/k4d.2022.140.
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This rapid literature review of primary and grey sources found substantial evidence of the merits of donor support to Public Financial Management (PFM) initiatives but no specific evidence assessing donor support for external government audit, such as Supreme Audit Institutions (SAIs). PFM reforms are established as being generally beneficial, assist in reducing or preventing corruption, increasing transparency and accountability, as well as improving service delivery quality, although the exact impacts are difficult to measure. Performance auditing has recently attracted more attention than traditional financial or compliance auditing and is seen by many sources to be conducive to improving accountability, although compliance and financial auditing are still viewed as the core of external audit. There is a substantial body of literature on donor-assisted PFM reforms but a paucity of focused study or discussion of donor support to external audit specifically. This evidence gap may be due to the cost of examining the narrow focus required on donor-assisted external audit specifically. This is compounded by the complexity of gathering a sufficiently large database through surveys combined with the lack of access (for individual academics) to official datasets across countries. Furthermore, measuring the impact of SAIs, for example, is difficult due to the variety of regulatory structures that exist, inhibiting comparative cross-country studies, which has resulted in a preference for in-depth analyses. Only multilateral institutions have conducted comprehensive cross-country surveys. However, the evidence does show that strengthened PFM systems and SAIs,1 if they are independent and fully resourced, increase transparency and accountability, helping to combat corruption, when governments are made answerable to their audit findings. The evidence on the effectiveness of SAIs (against corruption) is mixed and not as strong as for PFM reforms in general. The impact of PFM interventions in preventing or reducing corruption increases when reforms are sector-specific and complemented by societal awareness initiatives, citizen participation, and infomediary advocacy. This finding seems applicable to SAIs as the discourse is increasingly on improving comprehension of audit reports and wider dissemination to relevant stakeholders.
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Mooney, Henry, David Rosenblatt, Monique Graham, Natasha Richardson, María Cecilia Acevedo, Stefano Pereira, Khamal Clayton, Cloe Ortiz de Mendívil, and Victor Gauto. Caribbean Economics Quarterly: Volume 11, Issue 2: Finance for Firms: Options for Improving Access and Inclusion. Inter-American Development Bank, July 2022. http://dx.doi.org/10.18235/0004392.
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This edition of the Caribbean Economics Quarterly (Q2-2022) is a collaboration between the IDBs Caribbean Country Department and IDB Invest, which focuses on firms access to finance. The report begins by considering both the nature and history of the regions financial sector development, highlighting key measures of financial access and adequacy. It then leverages enterprise survey data developed by the Compete Caribbean partnership to assess legacy and emerging challenges facing firms from across the region, including those owned and/or operated by women. Newly available data from 2020 are compared with a previous vintage of the surveys from 2014, providing important insights into how circumstances have evolved, especially considering the COVID-19 shock. The analysis suggests that: (i) financial sectors and firms across the Caribbean face outsized challenges, particularly when compared to peers across the globe; (ii) the COVID-19 crisis appears to have further constrained access to finance; (iii) smaller firms appear to face more significant hurdles than larger ones; and, (iv) women-owned and/or operated firms face more severe challenges with respect to financial access than other firms across the region. Policies and reforms with the potential to improve financial development, access, and inclusion are highlighted, as well as successful examples of IDB support and collaboration in related areas across the Latin American and Caribbean region.
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Jigjidsuren, Altantuya, Bayar Oyun, and Najibullah Habib. Supporting Primary Health Care in Mongolia: Experiences, Lessons Learned, and Future Directions. Asian Development Bank, January 2021. http://dx.doi.org/10.22617/wps210020-2.
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ince the early 1990s, the Asian Development Bank (ADB) has broadly supported health sector reforms in Mongolia. This paper describes primary health care (PHC) in Mongolia and ADB support in its reform. It highlights results achieved and the lessons drawn that could be useful for future programs in Mongolia and other countries. PHC reform in Mongolia aimed at facilitating a shift from hospital-based curative services toward preventive approaches. It included introducing new management models based on public–private partnerships, increasing the range of services, applying more effective financing methods, building human resources, and creating better infrastructure. The paper outlines remaining challenges and future directions for ADB support to PHC reform in the country.
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Bano, Masooda, and Daniel Dyonisius. Community-Responsive Education Policies and the Question of Optimality: Decentralisation and District-Level Variation in Policy Adoption and Implementation in Indonesia. Research on Improving Systems of Education (RISE), August 2022. http://dx.doi.org/10.35489/bsg-rise-wp_2022/108.
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Decentralisation, or devolving authority to the third tier of government to prioritise specific policy reforms and manage their implementation, is argued to lead to pro-poor development for a number of reasons: local bureaucrats can better gauge the local needs, be responsive to community demands, and, due to physical proximity, can be more easily held accountable by community members. In the education sector, devolving authority to district government has thus been seen as critical to introducing reforms aimed at increasing access and improving learning outcomes. Based on fieldwork with district-level education bureaucracies, schools, and communities in two districts in the state of West Java in Indonesia, this article shows that decentralisation has indeed led to community-responsive policy-development in Indonesia. The district-level education bureaucracies in both districts did appear to prioritise community preferences when choosing to prioritise specific educational reforms from among many introduced by the national government. However, the optimality of these preferences could be questioned. The prioritised policies are reflective of cultural and religious values or immediate employment considerations of the communities in the two districts, rather than being explicitly focused on improving learning outcomes: the urban district prioritised degree completion, while the rural district prioritised moral education. These preferences might appear sub-optimal if the preference is for education bureaucracies to focus directly on improving literacy and numeracy outcomes. Yet, taking into account the socio-economic context of each district, it becomes easy to see the logic dictating these preferences: the communities and the district government officials are consciously prioritising those education policies for which they foresee direct payoffs. Since improving learning outcomes requires long-term commitment, it appears rational to focus on policies promising more immediate gains, especially when they aim, indirectly and implicitly, to improve actual learning outcomes. Thus, more effective community mobilisation campaigns can be developed if the donor agencies funding them recognise that it is not necessarily the lack of information but the nature of the local incentive structures that shapes communities’ expectations of education. Overall, decentralisation is leading to more context-specific educational policy prioritisation in Indonesia, resulting in the possibility of significant district-level variation in outcomes. Further, looking at the school-level variation in each district, the paper shows that public schools ranked as high performing had students from more privileged socio-economic backgrounds and were catering for communities that had more financial resources to support activities in the school, compared with schools ranked as low performing. Thus, there is a gap to bridge within public schools and not just between public and private schools.