Publication:
MTEFs and Fiscal Performance : Panel Data Evidence

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dc.contributor.author Grigoli, Francesco
dc.contributor.author Mills, Zachary
dc.contributor.author Verhoeven, Marijn
dc.contributor.author Vlaicu, Razvan
dc.date.accessioned 2013-01-02T19:47:32Z
dc.date.available 2013-01-02T19:47:32Z
dc.date.issued 2012-09
dc.description.abstract In the last two decades more than 120 countries have adopted a version of a Medium-Term Expenditure Framework (MTEF). These are budget institutions whose rationale it is to enable the central government to make credible multi-year fiscal commitments. This paper analyzes a newly-collected dataset of worldwide MTEF adoptions during 1990-2008. It exploits within-country variation in MTEF adoption in a dynamic panel framework to estimate their impacts. The analysis finds that MTEFs strongly improve fiscal discipline, with more advanced MTEF phases having a larger impact. Higher-phase MTEFs also improve allocative efficiency. Only top-phase MTEFs have a significantly positive effect on technical efficiency. en
dc.identifier http://documents.worldbank.org/curated/en/2012/09/16698632/mtefs-fiscal-performance-panel-data-evidence
dc.identifier.uri http://hdl.handle.net/10986/12027
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper; No. 6186
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ADB
dc.subject ADVERSE CONSEQUENCES
dc.subject ANNUAL BUDGET
dc.subject ANNUAL BUDGETING
dc.subject ANNUAL BUDGETS
dc.subject ARTICLE
dc.subject BANKING SECTOR
dc.subject BANKING SECTOR DEVELOPMENT
dc.subject BOND
dc.subject BUDGET AGGREGATES
dc.subject BUDGET ALLOCATIONS
dc.subject BUDGET AMENDMENTS
dc.subject BUDGET BALANCE
dc.subject BUDGET CIRCULARS
dc.subject BUDGET DOCUMENTS
dc.subject BUDGET FRAMEWORK
dc.subject BUDGET INSTITUTIONS
dc.subject BUDGET PLANNING
dc.subject BUDGET PROCESS
dc.subject BUDGET REQUIREMENT
dc.subject BUDGET RESOURCES
dc.subject BUDGET RULES
dc.subject BUDGETARY FRAMEWORK
dc.subject BUDGETARY INSTITUTIONS
dc.subject BUDGETARY OUTCOMES
dc.subject BUDGETARY PROCESSES
dc.subject BUDGETARY TARGETS
dc.subject BUSINESS CYCLE
dc.subject CENTRAL BANK
dc.subject CENTRAL GOVERNMENT
dc.subject COMMITMENT DEVICES
dc.subject COSTS OF GOVERNMENT
dc.subject CREATIVE ACCOUNTING
dc.subject CREDIBILITY
dc.subject DATA ANALYSIS
dc.subject DATA AVAILABILITY
dc.subject DATA COLLECTION
dc.subject DEBT
dc.subject DEBT SUSTAINABILITY
dc.subject DEBTS
dc.subject DEVELOPING COUNTRIES
dc.subject DEVELOPMENT BANK
dc.subject DISBURSEMENTS
dc.subject DUMMY VARIABLE
dc.subject E-MAIL
dc.subject ECONOMETRICS
dc.subject ECONOMIC DEVELOPMENT
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC POLICY
dc.subject EDUCATION SERVICES
dc.subject EDUCATION SPENDING
dc.subject EMERGING MARKET
dc.subject EMERGING MARKET ECONOMIES
dc.subject EMPLOYMENT
dc.subject ENTITLEMENTS
dc.subject ESP
dc.subject EUROPEAN CENTRAL BANK
dc.subject EXPENDITURE CEILINGS
dc.subject EXPENDITURE OBJECTIVES
dc.subject EXPENDITURE PLANS
dc.subject FACE VALUE
dc.subject FINANCIAL ACCOUNTABILITY
dc.subject FINANCIAL CRISIS
dc.subject FINANCIAL DEVELOPMENT
dc.subject FISCAL AFFAIRS
dc.subject FISCAL COMMITMENTS
dc.subject FISCAL DISCIPLINE
dc.subject FISCAL FRAMEWORKS
dc.subject FISCAL INSTITUTIONS
dc.subject FISCAL PERFORMANCE
dc.subject FISCAL POLICY
dc.subject FISCAL REFORMS
dc.subject FISCAL RULES
dc.subject FISCAL STABILITY
dc.subject FORWARD ESTIMATES
dc.subject GEOGRAPHIC REGION
dc.subject GEOGRAPHIC REGIONS
dc.subject GOVERNMENT BORROWING
dc.subject GOVERNMENT POLICIES
dc.subject GOVERNMENT POLICY
dc.subject GOVERNMENT SPENDING
dc.subject GROWTH RATE
dc.subject HEALTH CARE
dc.subject HEALTH EXPENDITURE
dc.subject HEALTH SECTOR
dc.subject HEALTH SPENDING
dc.subject HUMAN DEVELOPMENT
dc.subject ICT
dc.subject INFORMATION GAPS
dc.subject INNOVATION
dc.subject INSTITUTION
dc.subject INSTRUMENT
dc.subject INTEREST PAYMENTS
dc.subject INTERNATIONAL BANK
dc.subject INTERNATIONAL DEVELOPMENT
dc.subject ISOLATION
dc.subject LAWS
dc.subject LIFE EXPECTANCY
dc.subject MACROECONOMIC VOLATILITY
dc.subject MARKET ECONOMIES
dc.subject MEDIUM TERM EXPENDITURE
dc.subject MEDIUM TERM EXPENDITURE FRAMEWORKS
dc.subject MEDIUM-TERM EXPENDITURE
dc.subject MEDIUM-TERM EXPENDITURE FRAMEWORK
dc.subject MEDIUM-TERM EXPENDITURE FRAMEWORKS
dc.subject MEDIUM-TERM FISCAL FRAMEWORK
dc.subject MEDIUM-TERM PERSPECTIVE
dc.subject MEDIUM-TERM PLANNING
dc.subject MICRO DATA
dc.subject MINISTRY OF FINANCE
dc.subject MONETARY UNION
dc.subject NATIONAL BUDGET
dc.subject NPL
dc.subject OPEN ACCESS
dc.subject OUTCOME TARGETS
dc.subject PERFORMANCE FRAMEWORK
dc.subject PERFORMANCE TARGETS
dc.subject POLITICAL ECONOMY
dc.subject POLITICIANS
dc.subject POVERTY REDUCTION
dc.subject POVERTY REDUCTION SUPPORT
dc.subject PROGRAM OBJECTIVES
dc.subject PROGRAM PERFORMANCE
dc.subject PROGRAMS
dc.subject PUBLIC BUDGETING
dc.subject PUBLIC ECONOMICS
dc.subject PUBLIC EDUCATION
dc.subject PUBLIC EXPENDITURE
dc.subject PUBLIC EXPENDITURE MANAGEMENT
dc.subject PUBLIC FINANCE
dc.subject PUBLIC FINANCIAL MANAGEMENT
dc.subject PUBLIC GOODS
dc.subject PUBLIC HEALTH
dc.subject PUBLIC INVESTMENT
dc.subject PUBLIC POLICY
dc.subject PUBLIC SECTOR
dc.subject PURCHASING POWER
dc.subject REALLOCATIONS
dc.subject REFORM BUDGET INSTITUTIONS
dc.subject RESOURCE ALLOCATION
dc.subject RESOURCE AVAILABILITY
dc.subject RESULT
dc.subject RESULTS
dc.subject REVENUE GROWTH
dc.subject SECTORAL EXPENDITURE
dc.subject SOCIAL INFRASTRUCTURE
dc.subject SOCIAL OUTCOMES
dc.subject SOCIAL RETURNS
dc.subject STRATEGIC PRIORITIES
dc.subject SUSTAINABILITY ANALYSIS
dc.subject TAX
dc.subject TAXONOMY
dc.subject TRANSACTION
dc.subject TRANSPARENCY
dc.subject USES
dc.subject WALKING
dc.subject WASTE
dc.subject WEB
dc.title MTEFs and Fiscal Performance : Panel Data Evidence en
dspace.entity.type Publication
okr.date.disclosure 2012-09-01
okr.doctype Publications & Research :: Policy Research Working Paper
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/2012/09/16698632/mtefs-fiscal-performance-panel-data-evidence
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.globalpractice Transport and ICT
okr.globalpractice Health, Nutrition, and Population
okr.globalpractice Trade and Competitiveness
okr.identifier.doi 10.1596/1813-9450-6186
okr.identifier.externaldocumentum 000158349_20120904090140
okr.identifier.internaldocumentum 16698632
okr.identifier.report WPS6186
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/09/04/000158349_20120904090140/Rendered/PDF/wps6186.pdf en
okr.topic Private Sector Development :: E-Business
okr.topic Health Monitoring and Evaluation
okr.topic Public Sector Expenditure Policy
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Banks and Banking Reform
okr.topic Public Sector Development
okr.topic Health, Nutrition and Population
okr.unit Development Research Group (DECRG)
okr.volume 1 of 1
relation.isSeriesOfPublication 26e071dc-b0bf-409c-b982-df2970295c87
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