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This book takes stock of the past two decades of public sector modernization in OECD countries. These years have witnessed an influx of new ideas and initiatives but how have these new ideas worked in practice? This report assesses failures and successes and identifies the challenges ahead. It examines certain selected key public management policy levers of reform such as: making government more responsive, transparent and accessible, instilling a performance approach in the public sector, changing accountability and control systems, facilitating reallocation and restructuring, organizing and motivating public servants, and integrating a market approach.--Publisher's description

The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms.