Publication:
MTEFs and Fiscal Performance : Panel Data Evidence

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dc.contributor.authorGrigoli, Francesco
dc.contributor.authorMills, Zachary
dc.contributor.authorVerhoeven, Marijn
dc.contributor.authorVlaicu, Razvan
dc.date.accessioned2013-01-02T19:47:32Z
dc.date.available2013-01-02T19:47:32Z
dc.date.issued2012-09
dc.description.abstractIn 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.identifierhttp://documents.worldbank.org/curated/en/2012/09/16698632/mtefs-fiscal-performance-panel-data-evidence
dc.identifier.doi10.1596/1813-9450-6186
dc.identifier.urihttps://hdl.handle.net/10986/12027
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 6186
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADB
dc.subjectADVERSE CONSEQUENCES
dc.subjectANNUAL BUDGET
dc.subjectANNUAL BUDGETING
dc.subjectANNUAL BUDGETS
dc.subjectARTICLE
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR DEVELOPMENT
dc.subjectBOND
dc.subjectBUDGET AGGREGATES
dc.subjectBUDGET ALLOCATIONS
dc.subjectBUDGET AMENDMENTS
dc.subjectBUDGET BALANCE
dc.subjectBUDGET CIRCULARS
dc.subjectBUDGET DOCUMENTS
dc.subjectBUDGET FRAMEWORK
dc.subjectBUDGET INSTITUTIONS
dc.subjectBUDGET PLANNING
dc.subjectBUDGET PROCESS
dc.subjectBUDGET REQUIREMENT
dc.subjectBUDGET RESOURCES
dc.subjectBUDGET RULES
dc.subjectBUDGETARY FRAMEWORK
dc.subjectBUDGETARY INSTITUTIONS
dc.subjectBUDGETARY OUTCOMES
dc.subjectBUDGETARY PROCESSES
dc.subjectBUDGETARY TARGETS
dc.subjectBUSINESS CYCLE
dc.subjectCENTRAL BANK
dc.subjectCENTRAL GOVERNMENT
dc.subjectCOMMITMENT DEVICES
dc.subjectCOSTS OF GOVERNMENT
dc.subjectCREATIVE ACCOUNTING
dc.subjectCREDIBILITY
dc.subjectDATA ANALYSIS
dc.subjectDATA AVAILABILITY
dc.subjectDATA COLLECTION
dc.subjectDEBT
dc.subjectDEBT SUSTAINABILITY
dc.subjectDEBTS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDISBURSEMENTS
dc.subjectDUMMY VARIABLE
dc.subjectE-MAIL
dc.subjectECONOMETRICS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectEDUCATION SERVICES
dc.subjectEDUCATION SPENDING
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMPLOYMENT
dc.subjectENTITLEMENTS
dc.subjectESP
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXPENDITURE CEILINGS
dc.subjectEXPENDITURE OBJECTIVES
dc.subjectEXPENDITURE PLANS
dc.subjectFACE VALUE
dc.subjectFINANCIAL ACCOUNTABILITY
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFISCAL AFFAIRS
dc.subjectFISCAL COMMITMENTS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL FRAMEWORKS
dc.subjectFISCAL INSTITUTIONS
dc.subjectFISCAL PERFORMANCE
dc.subjectFISCAL POLICY
dc.subjectFISCAL REFORMS
dc.subjectFISCAL RULES
dc.subjectFISCAL STABILITY
dc.subjectFORWARD ESTIMATES
dc.subjectGEOGRAPHIC REGION
dc.subjectGEOGRAPHIC REGIONS
dc.subjectGOVERNMENT BORROWING
dc.subjectGOVERNMENT POLICIES
dc.subjectGOVERNMENT POLICY
dc.subjectGOVERNMENT SPENDING
dc.subjectGROWTH RATE
dc.subjectHEALTH CARE
dc.subjectHEALTH EXPENDITURE
dc.subjectHEALTH SECTOR
dc.subjectHEALTH SPENDING
dc.subjectHUMAN DEVELOPMENT
dc.subjectICT
dc.subjectINFORMATION GAPS
dc.subjectINNOVATION
dc.subjectINSTITUTION
dc.subjectINSTRUMENT
dc.subjectINTEREST PAYMENTS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectISOLATION
dc.subjectLAWS
dc.subjectLIFE EXPECTANCY
dc.subjectMACROECONOMIC VOLATILITY
dc.subjectMARKET ECONOMIES
dc.subjectMEDIUM TERM EXPENDITURE
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORKS
dc.subjectMEDIUM-TERM EXPENDITURE
dc.subjectMEDIUM-TERM EXPENDITURE FRAMEWORK
dc.subjectMEDIUM-TERM EXPENDITURE FRAMEWORKS
dc.subjectMEDIUM-TERM FISCAL FRAMEWORK
dc.subjectMEDIUM-TERM PERSPECTIVE
dc.subjectMEDIUM-TERM PLANNING
dc.subjectMICRO DATA
dc.subjectMINISTRY OF FINANCE
dc.subjectMONETARY UNION
dc.subjectNATIONAL BUDGET
dc.subjectNPL
dc.subjectOPEN ACCESS
dc.subjectOUTCOME TARGETS
dc.subjectPERFORMANCE FRAMEWORK
dc.subjectPERFORMANCE TARGETS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICIANS
dc.subjectPOVERTY REDUCTION
dc.subjectPOVERTY REDUCTION SUPPORT
dc.subjectPROGRAM OBJECTIVES
dc.subjectPROGRAM PERFORMANCE
dc.subjectPROGRAMS
dc.subjectPUBLIC BUDGETING
dc.subjectPUBLIC ECONOMICS
dc.subjectPUBLIC EDUCATION
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCIAL MANAGEMENT
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC HEALTH
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SECTOR
dc.subjectPURCHASING POWER
dc.subjectREALLOCATIONS
dc.subjectREFORM BUDGET INSTITUTIONS
dc.subjectRESOURCE ALLOCATION
dc.subjectRESOURCE AVAILABILITY
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectREVENUE GROWTH
dc.subjectSECTORAL EXPENDITURE
dc.subjectSOCIAL INFRASTRUCTURE
dc.subjectSOCIAL OUTCOMES
dc.subjectSOCIAL RETURNS
dc.subjectSTRATEGIC PRIORITIES
dc.subjectSUSTAINABILITY ANALYSIS
dc.subjectTAX
dc.subjectTAXONOMY
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectUSES
dc.subjectWALKING
dc.subjectWASTE
dc.subjectWEB
dc.titleMTEFs and Fiscal Performance : Panel Data Evidenceen
dspace.entity.typePublication
okr.crossref.titleMTEFs and Fiscal Performance: Panel Data Evidence
okr.date.disclosure2012-09-01
okr.date.doiregistration2025-04-10T09:27:07.896868Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2012/09/16698632/mtefs-fiscal-performance-panel-data-evidence
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTransport and ICT
okr.globalpracticeHealth, Nutrition, and Population
okr.globalpracticeTrade and Competitiveness
okr.guid313241468151768370
okr.identifier.doi10.1596/1813-9450-6186
okr.identifier.externaldocumentum000158349_20120904090140
okr.identifier.internaldocumentum16698632
okr.identifier.reportWPS6186
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/09/04/000158349_20120904090140/Rendered/PDF/wps6186.pdfen
okr.topicPrivate Sector Development::E-Business
okr.topicHealth Monitoring and Evaluation
okr.topicPublic Sector Expenditure Policy
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPublic Sector Development
okr.topicHealth, Nutrition and Population
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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