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...
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World Bank, Washington, DC
2017
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| 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 |
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okr-10986-266572021-05-25T09:00:16Z Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons World Bank Group PUBLIC-PRIVATE PARTNERSHIPS PUBLIC FINANCE PUBLIC SECTOR REFORM PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY FINANCIAL REPORTING ACCOUNTING STANDARDS 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. 2017-05-18T17:07:55Z 2017-05-18T17:07:55Z 2017-05 Report 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 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Accountability Study Economic & Sector Work East Asia and Pacific South Asia India Indonesia Malaysia Pakistan Sri Lanka |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
PUBLIC-PRIVATE PARTNERSHIPS PUBLIC FINANCE PUBLIC SECTOR REFORM PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY FINANCIAL REPORTING ACCOUNTING STANDARDS |
| spellingShingle |
PUBLIC-PRIVATE PARTNERSHIPS PUBLIC FINANCE PUBLIC SECTOR REFORM PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY FINANCIAL REPORTING ACCOUNTING STANDARDS World Bank Group Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| geographic_facet |
East Asia and Pacific South Asia India Indonesia Malaysia Pakistan Sri Lanka |
| description |
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. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| title_short |
Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| title_full |
Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| title_fullStr |
Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| title_full_unstemmed |
Public Private Partnerships on Public Financial Management Reforms in Asia : Opportunities and Lessons |
| title_sort |
public private partnerships on public financial management reforms in asia : opportunities and lessons |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
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 |
| _version_ |
1764462345007923200 |