+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Key budgetary principles and exclusions in international practices of budgetary governance

Vol. 26, Iss. 3, MARCH 2020

Received: 12 November 2019

Received in revised form: 26 November 2019

Accepted: 10 December 2019

Available online: 30 March 2020

Subject Heading: FISCAL SYSTEM

JEL Classification: H60, H61

Pages: 600–614

https://doi.org/10.24891/fc.26.3.600

Bogacheva O.V. Financial Research Institute, Ministry of Finance of Russian Federation, Moscow, Russian Federation
bogacheva@nifi.ru

https://orcid.org/0000-0002-2821-0988

Smorodinov O.V. Financial Research Institute, Ministry of Finance of Russian Federation, Moscow, Russian Federation
osmorodinov@nifi.ru

https://orcid.org/0000-0003-3195-1637

Subject After the 2008–2009 global financial crisis, new elements and trends in budgetary governance have been developing within the framework of new budgetary principles reflected in budgetary law in most of OECD countries. These novelties resulted from profound reforms at the end of the 1990s–early 2000s. Exclusions from key budgetary principles are used much more extensively in modern budgetary practices iof OECD, especially, exclusions from principles of annuality, universality and unity.
Objectives The article is to study budgetary principles and exclusions applied to modern budget governance in the OECD countries.
Methods The study is based on general methods of analysis and synthesis as well as the e method of comparative analysis.
Results A unification trend in basic budgetary principles is considered to have become more evident in the OECD countries after the 2008–2009 global financial crisis. In the mean time, exclusions from budgetary principles make budgetary governance more flexible. We also highlight several relevant cases in budgetary practices of Russia.
Conclusions Considering both trends in modern budgetary practice in the OECD countries – unification of basic budgetary principles and legal exclusions, we suppose these countries attempt to find solutions to current budgetary and socio-economic challenges. Exclusions from the key budgetary principles are also applied in Russia but, contrary to OECD practices, they are not always written in legislation. Such a situation undermines the efficiency of budgetary planning and governance.

Keywords: budgetary governance, exclusion, annuality, universality, budget unity

References:

  1. Anderson B., Minneman E. The Abuse and Misuse of the Term “Austerity”: Implications for OECD Countries. OECD Journal on Budgeting, 2014, vol. 14, iss. 1, pp. 109–122. URL: Link
  2. Hawkesworth I., Klepsvik K. Budgeting Levers, Strategic Agility and the Use of Performance Budgeting in 2011/12. OECD Journal on Budgeting, 2013, vol. 13, iss. 1, pp. 105–140. URL: Link
  3. Marcel M. Budgeting for Fiscal Space and Government Performance Beyond the Great Recession. OECD Journal on Budgeting, 2013, vol. 13, iss. 2, pp, 9–47. URL: Link
  4. Fiscal Consolidation: Targets, Plans and Measures. OECD Journal on Budgeting, 2011, vol. 11, iss. 2, pp. 15–67. URL: Link
  5. Schick A. Post-Crisis Fiscal Rules: Stabilising Public Finance While Responding to Economic Aftershocks. OECD Journal on Budgeting, 2010, vol. 10, iss. 2, pp. 1–18. URL: Link
  6. Steger G. Redirecting Public Finance Towards a Sustainable Path. OECD Journal on Budgeting, 2012, vol. 12, iss. 2, pp. 61–67. URL: Link
  7. Thompson F. It's Spending That Matters: From Robust Control Theory to Practical Heuristics. OECD Journal on Budgeting, 2014, vol. 14, iss. 3, pp. 1–14. URL: Link
  8. De Vries J. Is New Public Management Really Dead? OECD Journal on Budgeting, 2010, vol. 10, iss. 1, pp. 1–5. URL: Link
  9. Pattaro A.F. Budgeting Principles. In: Global Encyclopedia of Public Administration, Public Policy and Governance, 2018, pp. 453–461. URL: Link
  10. The Legal Framework for Budget Systems. An International Comparison. OECD Journal on Budgeting, 2004, vol. 4, iss. 3. URL: Link
  11. Maufort L. Budgetary Principles. URL: Link
  12. Lienert I., Ljungman G. Carry-over of Budget Authority. International Monetary Fund, 2009. URL: Link.
  13. Moretti D., Kraan D.-J. Budgeting in France. OECD Journal on Budgeting, 2018, vol. 18, iss. 2, pp. 8–72. URL: Link

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 3
March 2024

Archive