Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons
The growing investment needs in the South Asia Region (SAR) and East Asia and Pacific Region(EAP) necessitate high quality public financial management in order to sustain the growth momentumand achieve the desired development objectives. As these r...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/190271494602597931/Public-Private-Partnerships-on-public-financial-management-reforms-in-Asia-opportunities-and-lessons http://hdl.handle.net/10986/26657 |
| Summary: | The growing investment needs in the
South Asia Region (SAR) and East Asia and Pacific
Region(EAP) necessitate high quality public financial
management in order to sustain the growth momentumand
achieve the desired development objectives. As these regions
operate within limited fiscalspace for development,
efficient public financial management is essential to
achieve the best results for every dollar spent. However,
challenges persist in implementing timely reforms in Public
Financial Management (PFM), building ownership to drive
reforms and strengthening capacity to implement, embed and
sustain such reforms.This PFM retrospective study uses a
two-pronged approach. It illustrates examples of good
practices of partnerships in financial management reforms
between the public and the private sector and draws lessons
learned from effective financial management reforms in the
private sector in SAR and EAP. The study cites country
specific examples through case studies from the following
countries (listed in alphabeticalorder) India, Indonesia,
Malaysia, Pakistan and Sri Lanka, where collaboration
between the public sector and private sector have
contributed to successful public financial management
reforms. While exploring these various forms of
public-private collaboration, it also looks at additional
types of partnerships such as with peer institutions in
other countries, development partners and regional groups.
The study identifies the enabling environment conducive to
collaboration. Three significant factors pertinent to the
cases are covered in detail, namely: (1) windows of
opportunity; (2) leadership and change agents; and (3) the
institutional environment. The development strategies of the
governments covered in the cases, such as the New Economic
Model of Malaysia, are considered as windows of opportunity
for private sector involvement as they led to scaling up of
PFM reforms and created the need to collaborate with the
private sector to implement reforms. In particular, the
following organizations and individuals stand out in the
case studies as leaders and change agents that connect the
public and private sectors to move the PFM reform agenda
forward: Director, Department of Municipal
Administration—state of Karnataka; a combination of high and
working level champions of reforms from the Indonesian
Ministry of Finance (MoF);the Institute of Chartered
Accountants of Sri Lanka (CA Sri Lanka) and its public
sector wing staff and council members; the Secretary General
of the Treasury and the Accountant General in Malaysia; and
the past and current Auditors General in Pakistan and Sri Lanka. |
|---|