Advice, Money, Results Rethinking International Support for Managing Public Finance Report by an International Working Group – New York University Robert F. Wagner Graduate School of Public Service (6/2020).
“The current paradigm of public financial management (PFM) in international development has proved remarkably successful as the basis for a common approach, supported by a wide consensus among practitioners, advisers, and researchers. That approach emphasizes conformity with a set of processes and conventions aimed at achieving a standard trinity of PFM objectives: fiscal discipline, allocative efficiency, and operational efficiency. The approach is powerful and has provided practical means for those seeking to strengthen the institutional foundations of PFM. Improvements are still needed, however, to make external interventions on PFM more effective and to connect PFM more strongly to all levels of public policy.
Further enhancing the effectiveness of external interventions within the current paradigm will require better sharing of evidence and knowledge about intervention design. This could arguably be facilitated by a stronger role for debate and government choice among external advice options. This is a demanding technical agenda…”
