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Perceptions of performance in US financial regulatory programs

Thomas J. Greitens (Department of Political Science, Central Michigan University, Mount Pleasant, Michigan, USA)
M. Ernita Joaquin (School of Environmental and Public Affairs, Greenspun College of Urban Affairs, University of Nevada – Las Vegas, Las Vegas, Nevada, USA)

International Journal of Public Sector Management

ISSN: 0951-3558

Article publication date: 17 August 2012




The purpose of this paper is to analyze the accuracy of program performance measurement in US financial regulatory programs.


This research uses the US Government's Program Assessment Rating Tool (PART) system of output and outcome data collection, performance data from financial regulatory programs were examined to determine: if PART data revealed any degradation in external financial conditions or internal regulatory performance prior to the Great Recession of 2008, and whether output performance influenced outcome performance.


The results indicate that outcome measures did “capture” some deterioration in the performance of the financial industry before the Great Recession, but these measures were arguably not influenced by program outputs. This represents a potentially problematic use of performance measures in that programs used outcome measures which were not controlled by programmatic actions.


This project adds to a growing body of literature on the challenges of program performance measurement in government. However, this analysis is unique in that it specifically examines the performance of the US Government's financial regulatory programs, as measured by PART, before the Great Recession of 2008.



Greitens, T.J. and Ernita Joaquin, M. (2012), "Perceptions of performance in US financial regulatory programs", International Journal of Public Sector Management, Vol. 25 No. 6/7, pp. 444-454.



Emerald Group Publishing Limited

Copyright © 2012, Emerald Group Publishing Limited

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