Transcription of Public Finance Management: Challenges and Opportunities
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Public Finance Management: Challenges and Opportunities
Athens Journal of Business & Economics - Volume 6, Issue 1 Pages 73-98 doi= Public Finance management : Challenges and Opportunities By Liudmila Tkachenko* The paper reveals the essence of the system of Public financial management (PFM), defines its key elements of PFM system and articulates goals and objectives. The author's definition of PFM is given. A comparative analysis of managerial financial cycles in the Public and private sectors of the economy is carried out. The historical aspect of the PFM reforms is also analyzed, and various approaches to financial management (income and expenditure) in the Public sector are studied. Factors influencing the effectiveness of the PFM reforms are revealed. The Challenges faced by financial managers in implementing Public Finance reforms are analyzed, and the Opportunities that can be used to achieve the objectives of the PFM system, some of which are simultaneously Challenges (Blockchain and open government data (OGD)), are analyzed.
Literature Review This literature review consists of a review of existing publications by research ... expenditure management in the public sector was facilitated by the work (Review of Public Financial Management Reform Literature 2009). ... To conduct a risk analysis and challenges that need to be considered when managing finances in the 21st ...
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Management, Literature, Risk, Public sector, Sector, Risk Management in Public Sector: A Literature, Risk management in public sector, Risk management, Disaster risk management, Brookings Institution, INTEGRATED RISK MANAGEMENT IN THE PUBLIC, Public, Risk Management in Construction Projects, Risk Management Guidelines, Public-Private Partnerships in developing countries, OECD