scholarly journals EFFICIENCY OF STATE FINANCE MANAGEMENT: THEORETICAL AND METHODOLOGICAL APPROACHES TO EVALUATION

2019 ◽  
pp. 67-82
Author(s):  
Alla KHOMUTENKO ◽  
Vira KHOMUTENKO
Keyword(s):  
World Bank ◽  
Financial Management ◽  
Methodological Approach ◽  
The State ◽  
Finance Management ◽  
Management Efficiency ◽  
The World Bank ◽  
The World ◽  
State Finance ◽  
Methodological Approaches

Introduction. TThe degree of satisfaction of public interests depends on the efficiency of managing the processes of formation, distribution and use of state funds of funds. Awareness of this led to the development of scientific and methodological approaches to diagnosing the status of state finance management by both individual scientists and practitioners, as well as scientific-research institutions and organizations of national and international levels. Purpose of the paper is to investigate world and domestic scientific and methodological approaches to determining the efficiency of state finance management, which will reveal the shortcomings and gaps that affect the accuracy of the results. Results. The approaches used to assess the effectiveness of state administration and state service in general, as well as state finance management and the state budget, in particular, are characterized. The criteria used to calculate the International Civil Service Effectiveness Index are defined. The indicators of the countries of the world for this index for 2019 are analyzed. The criteria for assessing the state of public administration used by the World Bank are investigated. Such result indicators of Ukraine for 2007-2017 are analyzed. The methodology for assessing the effectiveness of public finance management (PEFA), which was tested by the World Bank with a group of partners USAID, EU, GIZ in Ukraine in 2011 and 2015, is demonstrated. The result indicators of individual criteria of management efficiency are given, such as: Open Budget Index, Global Competitiveness Index, Index of Globalization. A matrix of scientists' views on the composition of the criteria for the effectiveness of budget management is shown. The criteria and indicators of the financial management efficiency of the state sector of the economy, which in the studied methods are not included in the composition of state finances, are determined. Conclusions. The analysis showed that the scientific and methodological approach used to evaluate the effectiveness of state finance management depends on the performers understanding of the content of efficiency, the set analytical goals, the level of analysis, sources of information, the chosen methodology. It is revealed that none of the analyzed approaches allows a comprehensive assessment of the effectiveness of state finance management.

Structural Adjustment, Human Needs, and the World Bank Agenda

1991 ◽  
Vol 29 (1) ◽  
pp. 173-189 ◽  
Author(s):  
Howard Stein ◽  
E. Wayne Nafziger
Keyword(s):  
Development Strategy ◽  
World Bank ◽  
Structural Adjustment ◽  
Critical Evaluation ◽  
The State ◽  
Sub Saharan Africa ◽  
Role Of Government ◽  
International Agencies ◽  
The World Bank ◽  
The World

The economic crisis of the 1970s in sub-Saharan Africa led to a critical evaluation of the rôle of government policies by international agencies, including two contrasting views of the problem by the Economic Commission for Africa/Organisation of African Unity and the World Bank. The E.C.A./O.A.U. largely placed the blame on the deteriorating external environment, emphasising the reduction of income inequality, poverty, and unemployment through a continuation of the state-led introverted development strategy of the previous decade. The World Bank responded in the opposite direction, mainly blaming the inappropriate state policies of the post-independence period, while encouraging a re-focus on economic growth through a structural reversal of the state-imposed impediments to the efficient operations of markets.

scholarly journals QUANTIFICATION OF THE ECONOMIC EFFECT FROM THE MANAGEMENT OF STATE FINANCE OF UKRAINE

2021 ◽  
pp. 69-86
Author(s):  
Alla KHOMUTENKO
Keyword(s):  
Financial Stability ◽  
Methodological Approach ◽  
Economic Effect ◽  
The State ◽  
Economic Effects ◽  
State Budget ◽  
Financial Flows ◽  
State Sector ◽  
Finance Management ◽  
State Finance

Introduction. The results achieved in managing state finances can be expressed through organizational, social and economic effects. They are dialectically related and, to a large extent, determine the degree of satisfaction of public interests that change over time. Financial indicators obtained in the budget sphere and in the state sector of the economy, characterize the economic effect of managing state finances. Economic effect, as a rule, confirms the feasibility of a functioning managerial apparatus and the effectiveness of its decisions in all spheres of society. The purpose of the article is to evaluate the economic effect of managing state finances of Ukraine, based on the author’s methodological approach, and substantiate the directions for its increase. Results. The indicators of the economic effect of state finance management are defined in the article. The analysis of individual indicators of fiscal, debt, investment and innovation stability in the state, as well as the financial stability of subjects of the state sector of the economy for 2008–2018. The tendencies of performance indicators of the plan of the State Budget of Ukraine, the reliability of the profitable part of Pension Fund of Ukraine, revenues from privatization, external state debt, efficiency and level of mastering of budget investments are established. The number and structure of the state sector, its financial contribution to the national economy are investigated. The necessity of carrying out a number of priority measures that will positively affect the indicators of the economic effect of managing state finances of Ukraine is substantiated. Conclusions. According to the results of the assessment of the economic effect of the efficiency of state finance management it is necessary to apply measures aimed at ensuring budgetary, debt, investment and innovation stability and financial stability of state sector entities. For example, it is necessary to improving the management of state-owned enterprises, in particular: 1) to change methodological approaches to assessing the effectiveness of state sector management; 2) to establish the relationship between the budget funding of the state sector of the economy and the results of its work; 3) to use budget lending as a tool for managing the initial financial flows of the state budget; 4) to increase the responsibility of heads of state enterprises for the results achieved by them. It is proposed to improve the management of budget investments due to: 1) the development of the institution of public-private partnership in certain areas of the economy such as infrastructure, science, etc.; 2) intensification of the use of innovation potential through the creation of innovation clusters, business incubators, etc.; 3) improving the quality of evaluation of the investment project, which will positively affect the effectiveness of its implementation; 4) reorientation of the directions of movement of funds from investments in means of production to investments in human resources, which has a long-term perspective, but with higher profitability; 5) securing for the state intellectual property rights for the development of state research institutes (patents, certificates, etc.), which will provide additional revenue from franchises and trademarks.

scholarly journals Knowledge banking in global education policy: A bibliometric analysis of World Bank publications on public-private partnerships

2016 ◽  
Vol 24 ◽  
pp. 95 ◽  
Author(s):  
Francine Menashy ◽  
Robyn Read
Keyword(s):  
Private Sector ◽  
International Development ◽  
World Bank ◽  
Global Education ◽  
Methodological Approach ◽  
Small Subset ◽  
Knowledge Mobilization ◽  
The World Bank ◽  
The World ◽  
Private Sector Engagement

As a leading mobilizer of international development and educational knowledge, the World Bank has been critiqued in two key areas: (1) the dominance of economic thinking in its policies, and (2) its Northern-generated knowledge which informs its work in the Global South. In this paper, we investigate the disciplinary foundation of Bank knowledge, as well as its geographic representation. This study pays particular attention to knowledge mobilization relating to one of the most contentious policy prescriptions worldwide, and one that the Bank has historically supported: private sector engagement in education. By employing the concepts of economic imperialism and policy networks to frame our study, and through the use of a bibliometric methodological approach, we trace the authorship patterns of publications cited in a series of key World Bank documents on private sector engagement in education. Our findings show that the World Bank mobilizes research production from the Global North, which reflects a disproportionate economic disciplinary focus. Moreover, through a mapping of the cited authors, this network is shown to be highly narrow and privileges authors from a small subset of elite institutions.

scholarly journals COVID 19 - CHALLENGES, ECONOMIC PROBLEMS

2020 ◽  
pp. 70-74
Author(s):  
MIKHEIL CHIKVILADZE
Keyword(s):  
Health Care ◽  
World Bank ◽  
World Economy ◽  
The State ◽  
Economic Losses ◽  
State Budget ◽  
Current State ◽  
The World Bank ◽  
The World ◽  
The Government

The article is focused on problems in the Georgian economy caused by the new coronavirus epidemic. The current implementation of the state budget of Georgia for 2020 has been analyzed, attention has been drawn to the difficulties of both tax and total revenue performance. The main focus is on the effectiveness of business support measures and the transparency and legality of spending money. Measures have been taken on the operative elaboration and implementation of the relevant micro-fiscal policy, in response to the shocks in demand-supply. Coronavirus has caused many problems in the world economy. The world economy fell by 7.5% in the United States on March 9, which has not happened on Wall Street since 2008 global economic crisis. Of course, the influence of Coronavirus on the Georgia’s economy is severe, and the country is trying to deal with it in every possible way. If we analyze the current state budget execution this year, it can be seen that the current state budget for 2020 has been implemented in the first quarter. However, we should not expect the second quarter of the state budget for the same year, as this trend is already visible in April and May. The problems will be reflected in May, both in terms of tax revenues and total revenues as well, which is expected to double the state budget deficit of 2.5%, which means a complete failure of the two quarters. It can be said that the shock of the economy that accompanies coronavirus is quite strange and it affects to the supply and demand at the same time. We see negative risks on the supply side, which is reflected in the high cost of doing business, the demand will decrease as for increased uncertainty, tighter security measures and restrictions on free movement, as a result, the ability of consumers to spend their own money will be reduced. Experience has shown that 1/3 of the economic losses will be caused by direct losses: job cuts, quarantine and etc. 2/3 of economic losses will be indirect - which will be related to the decrease in consumer confidence, changes in the behavior of business entities, as well as the tightening of access to credit resources. It can be said that the global financial market is now more stable than it was before the 2008 crisis, but the main challenge in the current situation is still to manage uncertainty. In such a situation, it is inevitable that the funds from the budget will be prioritized for health care, so that the health care of the citizens not to be hindered. It seems inevitable for us to resolve the demand – to develop appropriate microfiscal policies in response to the shocks in supply. It is welcome that the European Investment Bank supports Georgia in the fight against the new coronavirus, which is to support Georgian business, support the health care system and accelerate the implementation of existing projects. The World Bank provided $ 15 billion quick and instant assistance to address the first challenges of COVID-19, this was mainly in the field of health and social care. The World Bank is currently working on three financial assistance packages: 1. To assist the government in responding to health and social protection challenges, 2. Substantiation will be provided to the state budget to reduce the expected deficit, 3. The World Bank intends to help small and medium-sized businesses to restore jobs and develop the economy, with a particular focus on affected sectors such as tourism, the first phase shall be completed by the end of April, which will be followed consistently. The World Bank has highlighted such an important circumstance as the inevitability of a zoological recession, which will be followed by a slowdown in economic growth, which in the case of Georgia will be 4% (which is significant to consider). According to the government›s decision, 2 billion GEL has been allocated for direct assistance to the economy, in order to provide emergency financial and material assistance to a number of different categories of affected citizens. Particular attention is paid to operative execution and control of measures envisaged in the concrete plan of economic stimulus and the anti-crisis plan of the government.

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