Beyond the Annual Budget : Global Experience with Medium-Term Expenditure Frameworks
This report is structured as follows. Chapter two provides background on what constitutes a medium-term expenditure framework, or MTEF and what it aims to achieve. It also describes the Bank's engagement with MTEFs, presents main points of debate over the experience with MTEFs, and provides a rationale for this study. Chapter three describes the key characteristics of MTEFs, explains the approach used to identify and classify them according to their stage of development, and reviews trends in their adoption. Chapter four outlines the methodological approaches used to examine the impact of MTEFs on fiscal performance, formulates the research hypotheses that are tested in the study, and presents empirical findings from the event studies and econometric analysis. It also presents qualitative insights, informed by case studies, on how MTEFs have affected the quality of budgeting. Chapter five draws some lessons about the key institutional determinants of MTEF performance. Chapter six discusses lessons learned from Bank support for MTEF implementation. Finally, chapter seven presents the conclusions of the study and discusses their implications for the Bank. Several appendixes provide supporting material, including a country-by-country tabulation of MTEF status, a full discussion of econometric results, and country case studies.
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| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2013
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| Subjects: | Budget planning and execution, Financial management information systems, Fiscal stability, Growth, Medium-term expenditure framework, Public financial management, Public sector reforms, Public spending effectiveness, Public spending efficiency, Spending volatility, World Bank lending, |
| Online Access: | http://documents.worldbank.org/curated/en/2012/10/16928787/beyond-annual-budget-global-experience-medium-term-expenditure-frameworks https://hdl.handle.net/10986/11971 |
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| Summary: | This report is structured as follows.
Chapter two provides background on what constitutes a
medium-term expenditure framework, or MTEF and what it aims
to achieve. It also describes the Bank's engagement
with MTEFs, presents main points of debate over the
experience with MTEFs, and provides a rationale for this
study. Chapter three describes the key characteristics of
MTEFs, explains the approach used to identify and classify
them according to their stage of development, and reviews
trends in their adoption. Chapter four outlines the
methodological approaches used to examine the impact of
MTEFs on fiscal performance, formulates the research
hypotheses that are tested in the study, and presents
empirical findings from the event studies and econometric
analysis. It also presents qualitative insights, informed by
case studies, on how MTEFs have affected the quality of
budgeting. Chapter five draws some lessons about the key
institutional determinants of MTEF performance. Chapter six
discusses lessons learned from Bank support for MTEF
implementation. Finally, chapter seven presents the
conclusions of the study and discusses their implications
for the Bank. Several appendixes provide supporting
material, including a country-by-country tabulation of MTEF
status, a full discussion of econometric results, and
country case studies. |
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