Fiscal Transparency and Economic Outcomes [electronic resource]
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TextSeries: IMF Working Papers; Working Paper ; No. 05/225Publication details: Washington, D.C. : International Monetary Fund, 2005Description: 1 online resource (45 p.)ISBN: 145186244X :ISSN: 1018-5941Subject(s): Budget Execution | Contingent Liabilities | Financial Markets and Institutions | Financial Markets and the Macroeconomy | Fiscal Discipline | Fiscal Risk | Bulgaria | Burkina Faso | Georgia | Iran, Islamic Republic of | UgandaAdditional physical formats: Print Version:: Fiscal Transparency and Economic OutcomesOnline resources: IMF e-Library | IMF Book Store Abstract: This paper develops indices of fiscal transparency for a broad range of countries based on the IMF's Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of the Reports on the Observance of Standards and Codes (ROSCs). The indices covers four clusters of fiscal transparency practices: data assurances, medium-term budgeting, budget execution reporting, and fiscal risk disclosures. More transparent countries are shown to have better credit ratings, better fiscal discipline, and less corruption, after controlling for other socioeconomic variables.
This paper develops indices of fiscal transparency for a broad range of countries based on the IMF's Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of the Reports on the Observance of Standards and Codes (ROSCs). The indices covers four clusters of fiscal transparency practices: data assurances, medium-term budgeting, budget execution reporting, and fiscal risk disclosures. More transparent countries are shown to have better credit ratings, better fiscal discipline, and less corruption, after controlling for other socioeconomic variables.
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