The pace of recovery from the financial crisis is uneven across the OECD area. This article discusses the current economic situation in OECD countries and gives an overview of the consolidation efforts currently undertaken by many governments ...

In recent years, the cost of delivering health care in developed and developing countries has been rising exponentially. Governments around the world are searching for alternative mechanisms to reduce costs while increasing the capacity of social ...

This article examines the budget process in Montenegro. After discussing some general legal, political and economic characteristics of the country, recent institutional reforms are surveyed. The section on the budget formulation process pays special ...

This article argues the case for a policy of “anchored flexibility” in the form of a flexible fiscal rule that allows for the pursuit of economic stability but always anchors that pursuit in fiscal sustainability. The rule is explicitly structured ...