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Type: Journal article
Title: New development: Towards a grand convergence? International proposals for aligning government budgets, accounts and finance statistics
Author: Heiling, J.
Schuhrer, S.
Chan, J.
Citation: Public Money and Management, 2013; 33(4):297-303
Publisher: Blackwell Publ Ltd
Issue Date: 2013
ISSN: 0954-0962
Statement of
Jens Heiling, Sabine Schührer and James L. Chan
Abstract: Government responses to recent financial crises have imposed heavy burdens on the public finances of many countries, and exposed weak links between fiscal information sources: budgets, accounts and finance statistics. In order to better understand the causes and effects of financial crises-as well as to predict them early and manage them effectively-the International Monetary Fund (IMF) recently proposed a standard for fiscal forecasting. Viewing this alignment proposal as the culmination-a 'grand convergence'-of earlier attempts at linking and improving these three fields, the authors describe and assess the IMF initiative, and discuss its likely impact. © 2013 Copyright CIPFA.
Keywords: Fiscal transparency
government accounts
government budgets
government finance statistics
IMF alignment proposal.
Rights: © 2013 The authors
DOI: 10.1080/09540962.2013.799838
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