02973nam 2200601Ia 450 991082687590332120200520144314.01-4623-8814-01-4519-8834-61-283-51214-91-4519-9323-49786613824592(CKB)3360000000443453(EBL)3014564(SSID)ssj0000940026(PQKBManifestationID)11502263(PQKBTitleCode)TC0000940026(PQKBWorkID)10948639(PQKB)10784955(OCoLC)694141282(IMF)WPIEE2006204(MiAaPQ)EBC3014564(EXLCZ)99336000000044345320060622d2006 uf 0engur|n|---|||||txtccrA principal-agent theory approach to public expenditure management systems in developing countries /prepared by Luc Leruth and Elisabeth Paul1st ed.[Washington, D.C.] International Monetary Fund20061 online resource (45 p.)IMF working paper ;WP/06/204"September 2006."1-4518-6464-7 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. INTERPRETATION OF PEM UNDER THE PRINCIPAL-AGENT THEORY""; ""III. THE BASIC MODEL ""; ""IV. EX POST AUDITS""; ""V. EX ANTE CONTROLS""; ""VI. CONCLUSION""; ""REFERENCES""A well-functioning public expenditure management (PEM) system is considered a critical pillar of government efficiency, on par with a low-distortion tax system and efficient tax administration. The paper discusses PEM systems in developing countries using an analytical framework based on principal-agent theory. This simple model can be applied to various PEM systems, and allows for comparisons between institutional settings. To illustrate this, we analyze the benefits derived from the use by the Ministry of Finance (MoF) of two control instruments; ex post audits and ex ante controls, and assess their value in terms of their ability to deter cheating. We derive a set of possible "control regimes" which can be used by the MoF. Although we illustrate the use of the model using developing countries, it is also relevant to developed economies.IMF working paper ;WP/06/204.Government spending policyManagementDeveloping countriesExpenditures, PublicDeveloping countriesGovernment spending policyManagementExpenditures, PublicLeruth Luc608957Paul Elisabeth907258MiAaPQMiAaPQMiAaPQBOOK9910826875903321A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries4077608UNINA