Suchergebnisse

The present study named: "FINANCIAL ADMINISTRATION INTEGRATED SYSTEM'S INCIDENCE (SIAF-SP), IN the BUDGETARY PROCESS' PLANNING and IMPROVEMENT IN THE DISTRITAL MUNICIPALITY OF SANTA 2006-2010 "; it is born from the present generalized problematic, in which the local governments do not use the financial resources assigned, and that in many cases, they give back the funds to the state treasury, stopping the making of elementary works to the detriment of their local communities. Nevertheless, we know that by mandate of the Peruvian government it has allow implements the Financial Administration's Integrated System in the 1834 local governments in the country. But, most of these local governments does not count with the place or Office of Planning and Budget neither an efficient OCI. This is the reason why the present work of investigation tries to determine the incidence of SIAF- SP – Local Government in the planning and improvement of the budgetary execution's processes in the Distrital Municipality of Santa. Also, to carry out the present study, period 2006-2010 has been considered, considering for the analysis, the documentary historical information of the Distrital Municipality of Santa. For the present study, the method has been considered analytical descriptive synthetic. And, for the analysis all the related elements and documentary information have been taken from the Distrital Municipality of Santa. Within the findings, we can stand out that the SIAF's implementation, allows to improve the financial planning, the use of financial resources and also, to shorten times of transmission between the municipal budgetary's formulation-execution and the Ministry of Economy and Finances. This, evidently, has invigorated the financial management of the Distrital Council of Santa. ; El presente estudio denominado: "INCIDENCIA DEL SISTEMA INTEGRADO DE ADMINISTRACIÓN FINANCIERA (SIAF-SP), EN LA PLANIFICACIÓN y MEJORAMIENTO DEL PROCESO PRESUPUESTARIO EN LA MUNICIPALIDAD DISTRITAL DE SANTA 2006-2010"; nace de la problemática actual generalizada donde los gobiernos locales no vienen utilizando los recursos financieros asignados, que en muchos casos devuelven los fondos al fisco, dejando de hacer obras elementales en perjuicio de sus comunidades locales. Sin embargo, sabemos que por mandato del gobierno peruano se ha dispuesto se implemente el Sistema Integrado de Administración Financiera en los 1834 gobiernos locales a nivel nacional. Pero, la mayoría de estos gobiernos locales no cuentan con el área u Oficina de Planificación y Presupuesto y con una OCI eficiente. Por lo que, el presente trabajo de investigación intenta determinar la incidencia del SIAF- SP – Gobierno Local en la planificación y mejoramiento del proceso de ejecución presupuestario en la Municipalidad Distrital de Santa. Asimismo, para llevar a cabo el presente estudio, se ha considerado el período 2006-2010, teniendo en cuenta para el análisis, la información histórica documentaria de la Municipalidad Distrital de Santa. Para el presente estudio, se ha considerado el método descriptivo- analítico- sintético. Y, para el análisis se han tomado todos los elementos relacionados y la información documentaria de la Municipalidad Distrital del Santa. Dentro de los hallazgos, podemos resaltar que la implementación del SIAF, permite mejorar la planificación financiera, uso de recursos financieros y acortar los tiempos de transmisión entre la formulación- ejecución presupuestaria municipal y el Ministerio de Economía y Finanzas. Esto, evidentemente, a nivel local ha dinamizado la gestión financiera del Concejo Distrital de Santa

Under the Maastricht Treaty and the Stability and Growth Pact (SGP) European Union (EU) Member States commit themselves to avoid excessive deficits over 3% of GDP and to pursue the medium-term objective of budgetary positions close to balance or in surplus. The SGP provides also regulation for the surveillance of budgetary positions. An analysis of associated tools is the focus of this paper. In particular, it addresses two open issues in the empirical public finance literature which are crucial for monitoring fiscal policy discipline in the EU. First, the estimation of the structural component of the fiscal balance ratio. Second, the computation, when only annual fiscal data is available, of quarterly budget balance ratios, using relevant information from quarterly measured macroeconomic series. An econometric model that addresses both issues is presented and estimated. Additionally, this modelling framework allows us to answer questions such as: what is the safety margin that will prevent a particular country from reaching with certain probability abudget deficit that breaches the 3% upper bound?

Global financial integration unlocks a huge potential for international risk sharing. We examine the degree to which international equity holdings act as a risk sharing device in industrial and emerging economies. We split equity returns into investment income (dividend distribution) and capital gains to investigate which of the two channels delivers the largest potential for risk sharing. Our evidence suggests that net capital gains are a more potent channel of risk sharing. They behave in a countercyclical way, that is they tend to be positive (negative) when the domestic economy is growing more slowly (rapidly) than the rest of the world. Countries with more countercyclical net capital gains experience improved consumption risk sharing. The empirical analysis furthermore suggests that these risk sharing properties of net capital gains have increased through time, in particular in the 1990s and early-2000s, on the back of a declining equity home bias and financial market deepening.