外文翻译国家公共财务管理机构和宏观经济的思考Word下载.docx

外文翻译国家公共财务管理机构和宏观经济的思考Word下载.docx

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外文翻译国家公共财务管理机构和宏观经济的思考@#@外文文献翻译译文@#@一、外文原文@#@原文：

@#@@#@SubnationalPublicFinancialManagement:

@#@InstitutionsandMacroeconomicConsiderations@#@Transparentpublicfinancialmanagementatthesubnationallevelrequiresinstitutionsandprocessesthatmirrorthoseneededatthecentralgovernmentlevel,inordertogeneratebetteraccountabilityandcompetitionamongdifferentsubnationalgovernments,criticalelementsinensuringgoodgovernanceandefficiencyofdecentralizedadministrations.Furthersubnationaldebtalsohasimplicationsforoverallmacroeconomicstabilitythatconcernsthecentralgovernment.Thekeycomponentsareidentified,withaparticularfocusonsubnationaldebtmonitoringandmanagement.@#@Practicalissuesrelatingtoeffectivepublicfinancialmanagementultimatelygovernwhetherornotthereisgoodgovernanceatthesubnationallevel-hencethesuccessorfailureofdifferentpolicyoptions.Althoughthereisagrowingliteratureon"@#@fiscalrules"@#@andsubnationaldebtmanagement,therehasbeenlessattentiontothecriticalgovernanceaspectsofpublicfinancialmanagement（althoughseePotter1997,Momoniat,2001）.Partofthisneglectmaybeduetothepresumptionthatdecentralization,togetherwithcommunity-baseddecisionmaking,wouldsufficeingeneratingefficientandequitablespendingdecisions.@#@Indeed,theemphasisoncommunityparticipationwasafeatureofdevelopmentstrategyinthe1950s,largelydrivenbytheFordFoundationandU.S.foreignassistanceprograms.Despitealackofsignificantsuccessatthetime,therehasbeenaresurgenceofthepolicyinrecentyearsduetotheeffortsofnongovernmentalorganizations（NGOs）.Theemphasisoncommunity-drivendevelopmentwasadoptedasoneofthecornerstonesoftheWorldBank'@#@sComprehensiveDevelopmentFramework（WorldBank,2001）.However,thereisincreasingevidencethatweakorabsentpublicfinancialmanagementfunctionsandinstitutionsarelikelytonegateanyadvantagesthatmightbeinherentinbringingpublicservices"@#@closer"@#@tolocalcommunities.@#@Theunderpinningsofpublicfinancialmanagementrelatetothebasicinstitutionalandproceduralelementsthatmightbeenshrinedinaconstitution,orhigherlevellawsonthebudget,orlawsoragreementsgoverningsubnationaloperationsorlevelsofindebtedness.Insomecountries,suchasSouthAfrica,wheretheprocesshasbeennicelysequenced,thereisasetofconsistentandwelldesignedlegislationcoveringalltheareasmentionedabove.@#@Inorderforanylevelofgovernmenttotakeresponsibilityforitsactions,theremustbeclarityinitsfunctions,itsmechanismsforappropriatingfundsandprioritizingandauthorizingspending,andensuringthatthespendingisactuallycarriedoutandaccountedfor.Anothercriticalaspectrelatestotimelyandaccuratereportingtotherespectivelegislatureandanyhigherlevelsofadministration.Inshort,questionswouldneedtobeposedconcerningthetransparencyandaccountabilityofagovernmentandwhetherthesemeetminimuminternationalstandards.Quiteoftentheconsequencesofsubnationalspendingcanbeshiftedtohigherlevelsofgovernment,oracrossgenerations,ifthereisnohard-budgetconstraintatajuniorlevelofgovernment（Rodmen,Laidback,andEskelund,2003）.Thisgenerallytranslatesintoweakornonexistentcontroloverborrowing.Theborrowingmightbeexplicit,forexample,throughissuanceofdebtorcontractingofloans,orindirect,suchasthoughthebuildupofarrearsoraccountspayable.Underdifferentconstitutionalarrangements,policyresponsesvaryfromenforcedcontrolsoversubnationalborrowing（generallyinunitarystates）tovoluntaryagreementsorrules（infederations,aswellasinsupranationalconglomerationsofstates,suchastheEU）,tosolerelianceonthestricturesofthemarket.@#@Thecaseforcommunity-basedgovernancedependsonthepossibilitiesoflocalinformationgenerationtogetherwiththenetworksofinter-communityinteractionsorsocialcapital.Thecombinationofthesefactorscould,inprinciple,generatespendingtailoredtolocalneeds,withsubstantivelocalinteractionsinordertoensurethatfundsarenotdivertedfromexpressedobjectives.Andasstatedabove,internationalanddonoragencieshaveraisedthesepossibilitiesinthedesignofassistanceprograms.But,inpractice,therearetwosubstantivesindifficulties.Thefirstrelatestowhetherornottheremightbeelitecapture,andthesecond,thatwouldservetoreinforcethefirst,relatestothetypeofinformationthatisgenerated.Inthefinalanalysis,thecaseturnsontheeffectivenessoflocalservicedeliveryandwhetherornotpowerfullocalinterestgroupsareabletogarnerasignificantproportionoffundsallocatedtothelocalities.@#@BradmanandMothered（2005）discusstheoreticaltradeoffsbetweencentralizedanddecentralizeddeliveryofinfrastructureservic