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  • 2010-2014  (3)
  • Burger, Philippe  (3)
  • Paris : OECD Publishing  (3)
  • Finance and Investment  (3)
  • 1
    Online Resource
    Online Resource
    Capital budgeting and procurement practices (2013)
    Paris : OECD Publishing
    In:  OECD Journal on Budgeting Vol. 13, no. 1, p. 57-104 | volume:13 | year:2013 | number:1 | pages:57-104
    Details
    Language: English
    Pages: 1 Online-Ressource (48 p.) , 21 x 28cm.
    Titel der Quelle: OECD Journal on Budgeting
    Angaben zur Quelle: Vol. 13, no. 1, p. 57-104
    Angaben zur Quelle: volume:13
    Angaben zur Quelle: year:2013
    Angaben zur Quelle: number:1
    Angaben zur Quelle: pages:57-104
    Keywords: Finance and Investment ; Governance
    Abstract: Capital investment is a key function of government. However, for a number of reasons it has proven difficult for governments to ensure that capital investment represents value for money, is affordable, and is budgeted and accounted for in a prudent and transparent manner. This article discusses these challenges facing governments. Using the findings of a survey conducted among OECD countries and enhanced engagement countries in 2012, this article provides an overview of what governments are doing with respect to planning and prioritisation, procurement, construction, operation and management, monitoring and evaluation, and budgeting and accounting for capital projects. The article concludes with a number of recommendations for capital budgeting and procurement. JEL classification: H400, H540, H570 Keywords: Capital investment, capital budgeting, capital projects, value for money, budgeting systems, accounting systems, transparency, procurement, public-private partnerships, PPPs, TIP, traditional infrastructure procurement
    DOI: 10.1787/budget-13-5k3w580lh1q7
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Fiscal rules and regime-dependent fiscal reaction functions : The South African case (2012)
    Paris : OECD Publishing
    In:  OECD Journal on Budgeting Vol. 12, no. 1, p. 1-29 | volume:12 | year:2012 | number:1 | pages:1-29
    Details
    Language: English
    Pages: 1 Online-Ressource (29 p.) , 21 x 28cm.
    Titel der Quelle: OECD Journal on Budgeting
    Angaben zur Quelle: Vol. 12, no. 1, p. 1-29
    Angaben zur Quelle: volume:12
    Angaben zur Quelle: year:2012
    Angaben zur Quelle: number:1
    Angaben zur Quelle: pages:1-29
    Keywords: Finance and Investment ; Governance ; South Africa
    Abstract: This article argues the case for a policy of “anchored flexibility” in the form of a flexible fiscal rule that allows for the pursuit of economic stability but always anchors that pursuit in fiscal sustainability. The rule is explicitly structured to be simple and is designed in analogy to the inflation-targeting framework. The article heeds the warning that consistently forecasting the output gap with any degree of precision is quite difficult, if not impossible, and thus proposes a target band for the deficit, instead of point targets for the overall deficit and the structural budget balance. To ensure fiscal sustainability over and above the contribution of the deficit rule, the article also proposes a band for the debt/GDP ratio. This debt rule acts as a negative feedback rule that stipulates the adjustments required in the deficit, should the actual debt/GDP ratio move outside the stipulated band. Since the government needs to change revenue and expenditure in order to change the deficit, the article then explores empirically whether and with how much revenue and expenditure in South Africa changed to maintain fiscal sustainability. More specifically the article explores various models of the fiscal reaction function to illuminate government behaviour in South Africa. These models consider how the deficit, expenditure and different types of revenue reacted to the debt/GDP ratio and the output gap to ensure fiscal sustainability. Lastly, the article considers measures that could enhance the automatic stabilisers, while simultaneously allowing for the maintenance of fiscal sustainability in the medium term.
    DOI: 10.1787/budget-12-5k9czxjth7tg
    URL: lizenzpflichtig
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    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    How To Attain Value for Money : Comparing PPP and Traditional Infrastructure Public Procurement (2011)
    Paris : OECD Publishing
    In:  OECD journal on budgeting Vol. 11, no. 1, p. 91-146
    Details
    ISSN: 1681-2336
    Language: English
    Pages: 56 p
    Titel der Quelle: OECD journal on budgeting
    Publ. der Quelle: Paris : Organisation for Economic Co-operation and Development, 2001
    Angaben zur Quelle: Vol. 11, no. 1, p. 91-146
    Keywords: Finance and Investment ; Governance
    Abstract: Governments increasingly use public-private partnerships (PPPs) to pursue value for money. However, value for money is (or at least, should be) the driving force behind traditional infrastructure procurement. Therefore, any project, whether it is a PPP or a traditionally procured project, should be undertaken only if it creates value for money. It seems that the choice between using a PPP or traditional procurement should be simple: governments should prefer the method that creates the most value for money. However, in practice the value-for-money objective is very often blurred, and the choice between using a PPP and traditional infrastructure procurement may be skewed by factors other than value for money. Some factors skew choice towards traditional procurement, while others skew it towards PPPs. Drawing on the results of a questionnaire sent to all OECD and some non-OECD countries, this article considers the various factors that may skew this choice and thereby undermine the pursuit of value for money. The results of the questionnaire point especially to differences in the range and complexity of the ex ante and ex post value-for-money tests that some governments apply to PPPs and traditionally procured infrastructure projects. However, accounting standards, political preferences for or against PPPs, and the strength of public sector unions also play, among others, a role in skewing incentives and affecting choice in some countries. The findings of the questionnaire are augmented by four case studies setting out the procurement processes for PPPs and traditional infrastructure procurement in France, Germany, Korea and the United Kingdom. With the focus on the attainment of value for money and by exploring the issues raised in the responses to the questionnaire, this article sets out some good practices that will align the requirements for these two types of procurement and remove possible perverse incentives that favour one over the other. JEL classification: H400, H440, H540, H570 Keywords: value for money, public-private partnerships, PPPs, traditional public procurement, infrastructure, public choice
    DOI: 10.1787/budget-11-5kg9zc0pvq6j
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    MPI Ethno. Forsch.
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