Munich Personal RePEc Archive

National Revenue Funds: Their Efficacy for Fiscal Stability and Intergenerational Equity

Asfaha, Samuel (2007): National Revenue Funds: Their Efficacy for Fiscal Stability and Intergenerational Equity. Published in:

[img]
Preview
PDF
MPRA_paper_7656.pdf

Download (409Kb) | Preview

Abstract

In countries where the political-economy incentives that governments face do not foster prudent revenue management, national revenue funds (NRFs) should not be used to impose optimal expenditure paths. In such countries, NRFs should instead be used as policy tools for re-aligning the diverging interests of governments, influential interest groups and society at large. This paper argues that nation-wide multi-stakeholder consultations are the way to go about it. Any multi-stakeholder consultation should target three important issues: establishing a national revenue management law which is acceptable to all stakeholders; establishing a multi-stakeholder independent oversight and monitoring committee to ensure checks-and-balances and compliance with the national revenue law; and giving the law constitutional status, to protect it from amendment or override by a single entity.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.