29 Sep 2008
Budgeting in Australia Jón R. Blöndal, Daniel Bergvall, Ian Hawkesworth, Rex Deighton-Smith
This review of budgeting in Australia concentrates on the national government only. The article first discusses Australia’s recent economic and fiscal performance and then focuses on the budget formulation process. After a discussion of the role of the Parliament, the article reviews various aspects of budget implementation and management. The article concludes with a special section on Australia’s efforts to eliminate "red tape" within government. This review was undertaken in September 2007; following the election of a new government in Australia in November 2007, some new policies are highlighted, encompassing budget formulation, processes, accounting and management.
29 Sep 2008
Budgeting in Estonia Dirk-Jan Kraan, Joachim Wehner, Kirsten Richter
Since independence, Estonia has been at the forefront of institutional reform in the area of financial management. Budget formulation is divided into two distinct stages: strategic planning and preparation of the annual budget that is submitted to Parliament. This article describes key characteristics of budgeting in Estonia, including the development of the State Budget Strategy, the parliamentary process, the organisation of budget execution, and systems for accounting and auditing.
29 Sep 2008
Budgeting in Russia Dirk-Jan Kraan, Daniel Bergvall, Ian Hawkesworth, Valentina Kostyleva, Matthias Witt
Russia’s budgeting procedures have been in transition since the adoption of the Budget Code in 1998. Major revisions of the Code were undertaken in 2003, 2004 and 2007. This article explores the many facets of budgeting in the Russian Federation, including budget formulation, parliamentary approval, budget execution, accounting and auditing, and financial relations between levels of government.
29 Sep 2008
The role of the state and public finance in the next generation Vito Tanzi
This article discusses the economic role of the state as it evolved during the 20th century, starting with how current tax systems developed and how fiscal termites can weaken the foundations of tax systems, examining the spending side of the government role, and speculating on future developments, particularly in the Latin American context.
