Every country around the world has embraced public financial management reforms over the last two decades, but many simply have not met expectations. The pressure for reform is even greater after 2008 given that countries are pressured to pursue austerity measures, but still ensure that government services are delivered.
Reform initiatives in public financial management have focused primarily on technical interventions and yielded decidedly mixed results. In practice, public financial management does not lend itself to "one-size-fits-all" approaches to policy making. Effective reform depends on political and organizational change, which requires a deep understanding of national traditions, capacities, and needs. While most attention has centered on public financial management in developing countries, research has shown that many developed countries face similar issues in implementing successful reforms.
Public Financial Management in a Changing World offers a rigorous, evidence-based approach to public financial management. The program is intended to bring together officials in charge of implementing reforms in their countries with leading experts from multilateral organizations to examine the challenges associated with successful systemic reform.
The program will provide participants with:
- an empirical understanding of the elements of reform agendas that typically succeed versus those that do not, and an analytical framework for interpreting how and why this differs by country;
- evidence-based insights about the connection between the quality and the outputs of systems in functional areas such as budgeting, accounting, auditing, and procurement;
- approaches for strategic engagement of stakeholders in reforms and change management; and
- a lasting global network of colleagues who share a common understanding of the challenges of reforming public financial management systems.