Public Capital Budgeting and Management: The Concept and its Application in Three Important Federations
Author: NATALIA ERMASOVA and JOHN L. MIKESELL
Published in PFM, Vol. 19 No. 3
This paper reviews the literature on national government capital budgeting approaches, identifies the standard features expected to be found in such processes, and compares how the procedures are applied in three large and significant federations, the German Federal Republic, the Russian Federa-tion, and the United States. The study uses a comparative case study approach to uncover contrasts, similarities, and patterns of capital budgeting in these countries. This paper examines infrastructure status and gaps and how capital budgeting procedures identified here can help resolve problems. The main finding is that effectively managing and budgeting capital expenditures are among the most pressing challenges to contemporary governments and the effort requires comprehensive and systematic planning, centralized execution and project management, and infrastructure mainte-nance.
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