Title: MTEFs and Fiscal Performance: Panel Data Evidence
Abstract: No AccessPolicy Research Working Papers22 Jun 2013MTEFs and Fiscal Performance: Panel Data EvidenceAuthors/Editors: Francesco Grigoli, Zachary Mills, Marijn Verhoeven, Razvan VlaicuFrancesco Grigoli, Zachary Mills, Marijn Verhoeven, Razvan Vlaicuhttps://doi.org/10.1596/1813-9450-6186SectionsAboutPDF (0.6 MB) ToolsAdd to favoritesDownload CitationsTrack Citations ShareFacebookTwitterLinked In 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. Previous bookNext book FiguresreferencesRecommendeddetailsCited byChallenges of Fiscal Policy in Emerging and Developing Economies22 August 2016Challenges of Fiscal Policy in Emerging and Developing EconomiesSSRN Electronic JournalHaving Space and Using It: Fiscal Policy Challenges in Developing Economies8 July 2015What Goes up Must Come Down — Cyclicality in Public Wage Bill Spending4 February 2014 View Published: September 2012 Copyright & Permissions Related TopicsMacroeconomics and Economic GrowthPoverty ReductionPublic Sector Development KeywordsBUDGET INSTITUTIONSMTEFFISCAL DISCIPLINEALLOCATIVE EFFICIENCYTECHNICAL EFFICIENCYDYNAMIC PANEL DATA ANALYSIS PDF DownloadLoading ...