04396oam 22010334 450 991097515250332120250426110502.0978661382459297814623881411462388140978145198834514519883469781283512145128351214997814519932331451993234(CKB)3360000000443453(EBL)3014564(SSID)ssj0000940026(PQKBManifestationID)11502263(PQKBTitleCode)TC0000940026(PQKBWorkID)10948639(PQKB)10784955(OCoLC)694141282(IMF)WPIEE2006204(MiAaPQ)EBC3014564(IMF)WPIEA2006204WPIEA2006204(EXLCZ)99336000000044345320020129d2006 uf 0engur|n|---|||||txtccrA Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries /Luc Leruth, Elisabeth Paul1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (45 p.)IMF Working Papers"September 2006."9781451864649 1451864647 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 Papers; Working Paper ;No. 2006/204Government spending policyManagementDeveloping countriesExpenditures, PublicDeveloping countriesAuditingimfExpenditureimfExpenditures, PublicimfExternal auditimfInternal controlsimfManagement accounting & bookkeepingimfNational Government Expenditures and Related Policies: GeneralimfPublic AdministrationimfPublic finance & taxationimfPublic FinanceimfPublic Sector Accounting and AuditsimfRevenueimfTax incentivesimfTaxationimfTaxation, Subsidies, and Revenue: GeneralimfFranceimfGovernment spending policyManagementExpenditures, PublicAuditingExpenditureExpenditures, PublicExternal auditInternal controlsManagement accounting & bookkeepingNational Government Expenditures and Related Policies: GeneralPublic AdministrationPublic finance & taxationPublic FinancePublic Sector Accounting and AuditsRevenueTax incentivesTaxationTaxation, Subsidies, and Revenue: GeneralLeruth Luc608957Paul Elisabeth907258DcWaIMFBOOK9910975152503321A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries4372353UNINA