OECD Journal on Budgeting

The OECD journal on public sector budgeting, published three times per year. It draws on the best of the recent work of the OECD Working Party of Senior Budget Officials (SBO), as well as special contributions from finance ministries, and makes it available to a wider community in an accessible format. The journal provides insight on leading-edge institutional arrangements, systems and instruments for the allocation and management of resources in the public sector. Now published as a part of the OECD Journal subscription package.

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Study of public financial management systems for two Asian regional groups

Comparisons and key features for SAARC and ASEAN regions

This paper presents assessments of Public Financial Management (PFM) Systems for two regional Asian groups – the South Asian Association for Regional Cooperation (SAARC) and the Association for South East Asian Nations (ASEAN). The study undertaken uses the Public Expenditure and Financial Accountability (PEFA) results for assessment of the performance of PFM systems of countries both within and across the two regions for the six PEFA framework dimensions. This paper also presents results of the study for comparing regional performance with global averages for various PEFA indicators to identify strengths and weaknesses. An in-depth analysis of the PEFA assessments was also done to identify key features and initiatives undertaken by the countries where strengths in PFM system indicators was identified, and recommendations made, for countries moving on the path of PFM reforms for performance improvement.


Keywords: Key features and PFM initiatives, Public Financial Management (PFM), Public Expenditure and Financial Accountability (PEFA) assessments, Asian regional groups – SAARC & ASEAN
JEL: G00: Financial Economics / General / Financial Economics: General; H00: Public Economics / General / Public Economics: General; H83: Public Economics / Miscellaneous Issues / Public Administration; Public Sector Accounting and Audits; H60: Public Economics / National Budget, Deficit, and Debt / National Budget, Deficit, and Debt: General
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