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Article
Publication date: 26 July 2021

Anil K. Narayan and John Kommunuri

This paper aims to provide a commentary on how well the New Zealand (NZ) Government has used the budget as a tool to tackle the social and economic problems associated…

Abstract

Purpose

This paper aims to provide a commentary on how well the New Zealand (NZ) Government has used the budget as a tool to tackle the social and economic problems associated with the COVID-19 pandemic. The role of public budgeting as a political instrument is also critiqued.

Design/methodology/approach

An analysis was carried out of relevant documents that included government policy statements, budgets, news articles and website information on the pandemic. Meaningful interpretation of information and reflections helped provide the basis of the commentary.

Findings

Public budgeting has a prominent role in addressing a major global crisis. Budgets need to quickly respond to the needs of the moment in saving lives and sustaining people’s well-being, businesses and the economy. In a crisis situation, the social, political and economic factors become crucial determinants of budgetary policy measures. Although strong political leadership is required to deliver budgets under unimaginable circumstances, the ideology of the political party in government can be a powerful predictor of fiscal policies. Crisis budgeting will result in mounting budget deficits and public debts that will take many years for future generations to pay back.

Practical implications

This paper provides a significant learning for other nations. These lessons will guide budget policymakers to prepare better for potential crisis in the future.

Originality/value

This paper is original and based on the NZ Government’s budgetary response to the COVID-19 pandemic. It will be valuable in formulating budget policies and public funding decisions in a major crisis.

Details

Pacific Accounting Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0114-0582

Keywords

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Book part
Publication date: 1 September 2020

Ron Messer

Abstract

Details

Financial Modeling for Decision Making: Using MS-Excel in Accounting and Finance
Type: Book
ISBN: 978-1-78973-414-0

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Abstract

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Simplifying the Complex
Type: Book
ISBN: 978-1-83867-972-9

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Book part
Publication date: 13 December 2004

Laura Francis-Gladney, Harold T. Little, Nace R. Magner and Robert B. Welker

Large organizations typically mandate that managers attend budget meetings and exchange budget reports with their immediate supervisor and budget staff. We explored…

Abstract

Large organizations typically mandate that managers attend budget meetings and exchange budget reports with their immediate supervisor and budget staff. We explored whether such organization-mandated budgetary involvement is related to managers’ budgetary communication with their supervisor in terms of budgetary participation, budgetary explanation, and budgetary feedback. Questionnaire data from 148 managers employed by 94 different companies were analyzed with regression. Mandatory budget meetings with supervisor had a positive relationship with all three forms of budgetary communication with supervisor, and mandatory budget reports from supervisor had a positive relationship with budgetary explanation from supervisor. Mandatory budget meetings with budget staff had a positive relationship with both budgetary participation with supervisor and budgetary feedback from supervisor. Mandatory budget reports from budget staff had a negative relationship with all three forms of budgetary communication with supervisor. The results failed to support proposed relationships between mandatory budget reports to supervisor and budgetary participation with supervisor, and between mandatory budget reports from supervisor and budgetary explanation from supervisor. Implications of the results for future research and budgetary system design are discussed.

Details

Advances in Management Accounting
Type: Book
ISBN: 978-0-76231-139-2

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Book part
Publication date: 11 August 2016

Dmitry L. Komyagin

This chapter is devoted to budget investments in the Russian Federation, which nowadays have a double meaning. This fact often causes confusion and misunderstandings in…

Abstract

This chapter is devoted to budget investments in the Russian Federation, which nowadays have a double meaning. This fact often causes confusion and misunderstandings in the implementation of investment activities.

Traditional Russian understanding of investment corresponds to the concept of capital expenditures or investments in fixed assets. As a result of budget investments, according to the budget legislation, the cost of public property necessarily increases. Such investments are budget expenditures for the creation (or purchase) of new capital assets. In this case, the budget investments are like a synonym for capital expenditures.

A new approach to the concept of cost of investments is linked to perception and rethinking of the concept of investment prevailing in the countries of Western Europe and North America. Under this approach, investments are understood as a commercial activity of the foreign investors, which consist of investing their funds in an unlimited range of objects of entrepreneurial activity in the territory of Russia. This approach is also embodied by the legislation of the Russian Federation.

However, in the second (not traditional for Russia) meaning, investment are carried out at the budget execution. These are, for example, assets of sovereign wealth funds of the Russian Federation, which are called the Reserve Fund and National Welfare Fund. These funds are formed by part of the revenues associated with oil production in the case of it exceeding its cost base per barrel, and the free assets of these funds are located in certain foreign currencies and securities.

Details

The Spread of Financial Sophistication through Emerging Markets Worldwide
Type: Book
ISBN: 978-1-78635-155-5

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Book part
Publication date: 24 October 2018

T. F. Romanova, L. V. Bogoslavtseva and V. V. Terentjeva

This chapter defines the prospects of treasury technologies considering the current financial environment in Russia. The purpose of this chapter is to justify the…

Abstract

This chapter defines the prospects of treasury technologies considering the current financial environment in Russia. The purpose of this chapter is to justify the promising treasury technologies, which improve the quality of budget flows’ management. The authors highlight the mission, role, and values of treasury institute. The evaluation of its functional activity and efficiency as well as the world experience in the development of the institution is provided. Comparative analysis of treasury technology for the implementation of foreign budgets with domestic practice is provided. The need for development of treasury technologies providing the liquidity of “single treasury account” is justified. This chapter suggests expanding the positive experience of the Federal Treasury using treasury technologies to ensure the efficient use of budgetary funds on both, regional and local levels.

Details

Contemporary Issues in Business and Financial Management in Eastern Europe
Type: Book
ISBN: 978-1-78756-449-7

Keywords

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Article
Publication date: 16 September 2021

Putri Arumsari and Hendrik Sulistio

Public-rented flats in Jakarta Province operated by the Management Unit of Public-Rented Flats (MUPRF) experienced budget cuts for the maintenance and treatment activities…

Abstract

Purpose

Public-rented flats in Jakarta Province operated by the Management Unit of Public-Rented Flats (MUPRF) experienced budget cuts for the maintenance and treatment activities during the COVID-19 pandemic that hit Indonesia in the early 2020. Currently, the budgeting scheme of the MUPRF uses the local government’s budget in determining the expenditures of public-rented flat. This papers aims to propose an alternative budgeting scheme for the MUPRF.

Design/methodology/approach

Soft system methodology (SSM) was adopted to understand the public-rented flats as a whole system, so an alternative budgeting scheme for the MUPRF can be identified and developed. Interviews with an employee of the Department of Community Housing and Settlement of Daerah Khusus Ibukota Jakarta Province were conducted. A rich picture, customer, action, transformation, worldview, owner and environment analyses, conceptual model and a proposed model were developed during the process.

Findings

Based on the SSM, it is found that becoming a local public service agency, the MUPRF can be more independent and flexible in managing their budget. The income generated by the public-rented flats can be used directly for their expenditure.

Research limitations/implications

Through the SSM, only a conceptual model is developed, which has not yet been implemented in practice. Future studies need to be carried out to evaluate the feasibility of the conceptual model.

Originality/value

This research analyses the public-rented flat as a whole system through SSM to identify factors and parties that are involved in the daily activities in public-rented flats to propose a suitable alternative for its budgeting scheme.

Details

Facilities , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-2772

Keywords

Content available
Article
Publication date: 7 October 2020

Vladimir Klimanov, Sofia Kazakova, Anna Mikhaylova and Aliya Safina

The purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia.

Abstract

Purpose

The purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia.

Design/methodology/approach

The research article is structured as follows. Based on the official data from the Ministry of Finance, the Federal Treasure and the Accounts Chamber of the Russian Federation, first, the state of Russian regional budgets before and under COVID-19 is analyzed. Second, due to the increase of regional spending commitments under pandemic the regional debt dependence is reviewed. Third, anticrisis fiscal measures which have been taken to combat the negative impact of COVID-19 are discussed.

Findings

In general, 2020 may be the most difficult for regional budgets, although the results of the first quarter do not show such tension. However, the impact of COVID-19 on budget indicators is ambiguous because the economic crisis of 2020 is dual, including the crisis in the oil markets. The pandemic has become a unique global phenomenon, the effect of which is difficult to identify and interpret outside of the economic aspects of life.

Originality/value

The value of the article is based on the overview of the state of regional budgets before and under COVID-19, on the analysis of how pandemic affects fiscal resilience of the regional budgets and on the forecast of how serious the volume of lost revenues are going to be.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 1
Type: Research Article
ISSN: 1096-3367

Keywords

Content available
Article
Publication date: 16 August 2021

Mattias Haraldsson

The aim of this paper is to explore whether and how external, political, financial and governance factors influence capital expenditure deviations in the Swedish municipal…

Abstract

Purpose

The aim of this paper is to explore whether and how external, political, financial and governance factors influence capital expenditure deviations in the Swedish municipal water and sewerage sector and to capture the consequences of municipal organisational fragmentation.

Design/methodology/approach

Panel data analysis of 238 municipalities and 1,190 observations of capital expenditure deviations over five years (2013–2017).

Findings

Apart from a low overall on average execution rate of 69%, the Swedish municipal water and sewerage sector seems generally sensitive to external stakeholder pressure for budget compliance, but not to the political power situation. Further, political signalling incentives generally do not influence capital expenditure deviations in the contexts of municipal corporations and cooperations, which supports the idea that these governance forms insulate the organisation from general stakeholder pressure and political control.

Practical implications

The practical implication is that large and constant capital expenditure deviations call for change in regulation and governance of the municipal sector. However, in countries such as Sweden, where externalising services to municipal corporations and cooperations is significant, this discussion needs to address the consolidated level of the municipality. Otherwise, a large share of the investment budget will be unscrutinised. More closely related to the Swedish water and sewerage sector, the risks associated with a constantly low execution rate should be analysed and addressed.

Originality/value

First, this paper contributes to the knowledge of aggregated capital expenditure deviations in general and specifically within the municipal water and sewerage sector. Second, analysing the municipal governance landscape adds further insights and suggestions on why budget performance varies. The results especially highlight that the governance forms of corporations and cooperations change the relation to political signalling incentives.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1096-3367

Keywords

Content available
Article
Publication date: 11 August 2021

Hoang Van Khieu

This paper aims to uncover the nexus between budget deficits, money growth and inflation in Vietnam in the period 1995–2012.

Abstract

Purpose

This paper aims to uncover the nexus between budget deficits, money growth and inflation in Vietnam in the period 1995–2012.

Design/methodology/approach

The paper uses a structural vector auto-regressive model of five endogenous variables including inflation, real GDP growth, budget deficit growth, money growth and the interest rate.

Findings

It is found that inflation rose in response to positive shocks to money growth and that budget deficits had no significant impact on money growth and therefore inflation. This empirical evidence supports the hypothesis that fiscal and monetary policies were relatively independent. Money growth significantly decreased in response to a positive shock to inflation; interest rates had no significant effect on inflation but considerably increased in response to positive inflation shocks. This implies that the monetary base was more effective than interest rates in fighting inflation.

Originality/value

This paper sheds light into understanding the link between budget deficits, money growth and inflation in Vietnam during the high-inflation period 1995–2012. The finding supports the hypothesis that fiscal and monetary policies were relatively independent over the period.

Details

Fulbright Review of Economics and Policy, vol. 1 no. 1
Type: Research Article
ISSN: 2635-0173

Keywords

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