The Research Summaries in the March 2013 Research Bulletin discuss "Trade Finance and Its Role in the Great Trade Collapse" (JaeBin Ahn) and "Sovereign Debt: How to Track Who Is Buying and Selling It" (Serkan Arslanalp and Takahiro Tsuda). The Q&A looks at "Seven Questions on the Implications of Global Supply Chains for Real Effective Exchange Rates" (Rudolfs Bems). Readers can also find in this issue a listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications. The Bulletin also includes a call for papers for a research conference and information on free access to the IMF Economic Review in April.
, Anil K. Kashyap , and Hyun Song Shin . The journal received its first Impact Factor, 2.100 , with the release of the latest Tomson Reuters Journal Citation Reports (JCR), and was ranked 37/320 in the Economics category and 9/86 in the Business and Finance category.
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This technical note is the first of three addressing information technology (IT) themes and issues relevant to tax administrations. This note focuses on the use of technology in tax administrations and how to develop an information technology strategic plan (ITSP). It is intended for tax administrations that are largely manual or have outdated legacy IT systems. The second note addresses how to select an IT system for core tax administrations functions. And the third note covers implementation of a commercial-off-the-shelf (COTS) system. These technical notes are primarily for use by tax administrations that have no technology to manage their core tax processes, or their technology is limited and outdated. These notes focus on core tax functions and do not address other business systems (e.g., payroll, finance, document, and asset management systems).
trends. It also takes into account unforeseen changes (e.g., government policies, delays in IT implementation), and new IT developments. For major projects such as replacement of core systems, an even longer planning horizon may be needed.
VI. Who Should Be Involved in Developing the Strategy and in What Roles?
Creating an IT strategy requires strong leadership; where existing, the Chief Information Officer (CIO) 10 and Chief Technology Officer (CTO) 11 (alternatively the IT Director) need to work closely with the administration executive bodies, information
anchored in the government accounting system and be designed to perform all necessary accounting functions as well as to generate custom reports for internal and external use. However, this does not mean that it should concentrate exclusively on financial information. Managers will require other, nonfinancial information, including for example, personnel information (i.e., numbers of employees, their grades within the organizational structure, and their rates of remuneration). Performance information will be important to managers, such as the identification of program
statistics consistent with national accounts statistics and the need for financial stability indicators for policy and surveillance purposes. (For more information, see the Detailed Assessments volume, pages 124–125). Norges Bank’s statistics reflect transparency , with respect to the terms and conditions under which Bank staff undertake statistical work and in the procedures for the release of statistical information. Managers provide their staffs with guidance on ethical standards , which are defined in the staff handbook Ethical Rules of Norges Bank
In the past decade, developing countries (DCs) have been encouraged to reform their public expenditure management systems and have increasingly embarked on major projects to computerize their government operations. Most popular among these have been projects to computerize government accounting and payment operations, by introducing government financial management information systems (FMISs). This paper investigates the reason for almost universal failure to implement and sustain FMISs in DCs. It starts with a review of the "received wisdom" in implementing these projects, and then analyzes problems in its application in the DC context to identify key factors to explain why FMIS projects have been so problematic. Based on the identified negative factors, suggestions for addressing them are offered in the hope of improving success rates.
also to support those needs that are likely to arise as parallel budget reforms are implemented. It should provide a wide range of nonfinancial and financial information As a tool of management it should provide the information required for decision making. For this purpose it is anchored in the government accounting system, and should be designed to perform all necessary accounting functions as well as generate custom reports for internal and external use. However, this does not mean that it should exclusively concentrate on financial information. Managers will
This paper examines how major efficiency gains and improved effectiveness were simultaneously achieved at the Reserve Bank of New Zealand over a five-year period. It identifies the business management concepts that were used to transform the organization, outlines how they were applied, and evaluates the benefits obtained. The paper concludes that substantial real efficiency gains were achieved, while effectiveness was maintained or enhanced. Looking more widely, the business management concepts used to achieve these benefits could be applied to other central banks.
comparisons with other organizations. 23/
In a knowledge-based industry like central banking people, are the main resource and the main cost. Literally, time is money. Charge-out rates were calculated to emphasize the value of staff time. Managers used these rates in pricing and resource allocation decisions.
Armed with better information, managers became aggressive about challenging costs. They also grew more realistic about the goods and services they purchased, externally or internally. Once costs were compared with benefits, much of the RBNZ’s administrative work