LEADER 04177oam 22009374 450 001 9910788416203321 005 20230828232557.0 010 $a1-4623-8814-0 010 $a1-4519-8834-6 010 $a1-283-51214-9 010 $a1-4519-9323-4 010 $a9786613824592 035 $a(CKB)3360000000443453 035 $a(EBL)3014564 035 $a(SSID)ssj0000940026 035 $a(PQKBManifestationID)11502263 035 $a(PQKBTitleCode)TC0000940026 035 $a(PQKBWorkID)10948639 035 $a(PQKB)10784955 035 $a(OCoLC)694141282 035 $a(MiAaPQ)EBC3014564 035 $a(IMF)WPIEE2006204 035 $a(EXLCZ)993360000000443453 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 12$aA Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries /$fLuc Leruth, Elisabeth Paul 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (45 p.) 225 1 $aIMF Working Papers 300 $a"September 2006." 311 $a1-4518-6464-7 320 $aIncludes bibliographical references. 327 $a""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"" 330 3 $aA 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. 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