Texas Public Pensions: A Common Pool Resource Perspective

PurposeCountry comparative studies especially in Africa on public procurement reforms toward financial control and accountability of public expenditure are limited. Meanwhile, these kinds of studies have potential for providing useful insights on how value for money through public procurement is being ensured across Africa. This paper attempts to provide this. The purpose of this paper is to highlight several policy recommendations for public management aimed at improving public procurement and public financial management (PFM) systems in Africa.Design/methodology/approachThe paper adopts a qualitative case study using secondary data drawn from Global Integrity Index (GII) of the Transparency International and the World Bank’s Country Policy and Institutional Assessments databases to investigate variables that influence public procurement practices in three purposively selected African countries. The comparative approach for presenting some of the experiences of countries in public procurement methods is used in this paper.FindingsThe findings suggest three main variables, namely, government structure and economic variables, complicated by socio-cultural values interact to influence public procurement and PFM systems in the case study countries.Research limitations/implicationsData for the GII indicators used were only available from 2013, which restricted the discussion of those indicators to a short span (2013–2015).Social implicationsThe socio-cultural milieu within which public procurement takes place has implications for how governance structures function to deliver value-for-money public procurement.Originality/valueThis study adds value by comparing three countries within Africa to reveal common variables which influence public procurement and PFM systems.

Forensic Finance and Budgeting Process Within the Public Financial Management (PFM) Framework in the African Context

Effective public financial management (PFM) systems rely on robust audit trails and transparent reporting mechanisms to ensure accountability, detect irregularities, and maintain institutional integrity. Across emerging economies, however, weaknesses in audit documentation, inadequate financial disclosure, and poor internal control practices continue to undermine fiscal responsibility and erode public trust. This study empirically examines the interrelationship between audit trails, financial transparency, and internal control effectiveness within public financial management systems across Nigeria, Kenya, and Ghana. Using a quantitative cross-sectional design, data were collected from 420 respondents drawn from ministries, departments, and agencies (MDAs) in the three countries. Structured questionnaires measured audit trail quality, transparency indicators, and internal control performance, while regression analysis determined the predictive influence of audit trails and transparency on control effectiveness. Results revealed that audit trails and financial transparency jointly explained 52 percent of the variance in internal control effectiveness across the sample. Organizations with comprehensive audit documentation, digitized transaction records, and timely financial disclosure exhibited significantly higher control scores than those relying on manual or fragmented systems. Among the three countries, Kenya demonstrated the strongest correlation between digital audit trail integrity and control performance (r = 0.72, p< 0.01), reflecting the impact of its integrated financial management information system (IFMIS). Conversely, Nigerian institutions showed relatively weaker associations, attributed to low automation and irregular financial reporting. Regression results further indicated that audit trail strength (β = 0.46, p< 0.001) and financial transparency (β = 0.33, p< 0.001) are significant predictors of internal control effectiveness. The findings emphasize that strengthening audit trails through digital integration, regular reconciliation, and secure data archiving enhances not only accountability but also operational control within PFM systems. Financial transparency acts as a reinforcing mechanism that promotes compliance, mitigates corruption risk, and builds stakeholder confidence. The study concludes that institutionalizing real-time audit documentation and open financial disclosure practices are indispensable for effective internal control and fiscal governance in developing economies. Policy recommendations include investment in audit automation, capacity building for internal auditors, and mandatory disclosure frameworks aligned with international public sector accounting standards.

The article explores an approach to implementing modern digital technologies, such as blockchain solutions, in the public finance management system, considering global experience. The purpose of the article is to develop recommendations for the implementation of digital technologies into the existing public finance management mechanism of modern Ukraine to reduce objective risks from the “human factor” in corporate and public management, and, in accordance with the goal, 5 research tasks are set and solved in the article. The author analyzes key challenges in public finance management, particularly the negative impact of the human factor, and proposes solutions aimed at minimizing errors, enhancing transparency, and reducing corruption risks. Existing methodologies and frameworks for evaluating digital technologies, such as the digital maturity models of the OECD, the World Bank, ISO 37122, as well as methodologies from NIST and the EU, are examined. The study develops a new methodological approach to the comprehensive evaluation of technologies, encompassing six key criteria: process automation, transparency, security, decentralization, efficiency, and implementation cost. A technology assessment system is proposed for each criterion, along with a mathematical model for calculating an integrated indicator. This methodology enables the classification of technologies as either key or auxiliary in the context of the digital transformation of the public finance management mechanism. The article emphasizes the unique potential of decentralized technologies, such as blockchain, in minimizing the impact of the human factor. The primary contribution of the study lies in creating a scientific basis for enhancing the efficiency of public administration by introducing modern digital technologies capable of minimizing the adverse effects of the human factor. Applying the developed technology evaluation methodology will provide a well-founded means to identify priority areas for the digital transformation of Ukraine’s public finance management system, taking into account global experience and national specifics.

This study through multiple regression analysis, concentrating on the Ministry of Transportation in Nigeria in conjunction with their corresponding activities examined the effect of public financial management system on public expenditure on transport Infrastructural development in Nigeria. Our results found that public financial management system had positive and significant effect on public expenditure on transport infrastructural development in Nigeria (Adj. R 2 = 0.610, F-statistics (5, 60) = 21.334, p ˂ 0.05). The study concluded that public financial management system affects public expenditure on transport infrastructural development in Nigeria. It was recommended that the Federal Government of Nigeria shouldsustain sound public financial management system in the Ministry of Transportation to enhance transport infrastructural development and ensure that resources meant for transport infrastructural developmentare monitored using public financial management system dimensions.

The article examines the main directions of pension system reform in the countries of the European Union and Ukraine in the context of contemporary socio-economic transformations. The theoretical foundations of the functioning of pension provision are analyzed, and its role in shaping the system of social protection of the population is determined. Particular attention is paid to the analysis of the current state of pension systems, key trends in their development, and the challenges faced by European countries and Ukraine under conditions of demographic and economic change. The main factors that determine the need for pension system reform are identified, including demographic population aging, increasing life expectancy, a decrease in the share of the economically active population, an increasing burden on working citizens, as well as the financial instability of solidarity pension systems. The study examines the main models of pension provision operating in the countries of the European Union and identifies their characteristic features. The experience of implementing multi-pillar pension systems that combine solidarity, funded, and private pension provision levels is analyzed. It is demonstrated that the combination of different mechanisms for the formation of pension benefits makes it possible to increase the financial stability of the system, ensure the diversification of sources of pension income, and reduce risks associated with demographic changes. The features of the functioning of the pension system of Ukraine, its institutional structure, and the mechanisms for the formation of pension benefits are examined. The main problems of its development are identified, including the deficit of the pension fund budget, a high level of shadow employment, low pension payments, and a demographic imbalance between contributors and pension recipients. The expediency of using the positive experience of European Union countries in the process of further reforming the national pension system, taking into account the socio-economic characteristics of Ukraine, is substantiated. The study proposes directions for improving the efficiency of the pension system of Ukraine, including the development of the funded level of pension provision, improvement of pension asset management mechanisms, increasing the transparency of the functioning of pension institutions, and creating conditions for strengthening public trust in the pension system. The implementation of the proposed measures will contribute to strengthening the financial stability of the pension system, improving the level of social protection of citizens, and ensuring its long-term sustainability.

The theoretical framework of public procurement through the definition of the concept of «ublic procurement»is analyzed, the role of analysis in the public finance management system, the principles of analysis of public procurement and its functions are studied. The article offers to interpret the public procurement as a component of public financial management system that constitutes a standardized mechanism of financial and economic relations between the government and business entities on the implementation of the state order for the goods, services, works on the principles of fair competition among participants, maximum economy and efficiency, the targeted use of budget funds, openness and transparency at all stages of procurement, equality of participants, objective and impartial evaluation of tender proposals, prevention of corruption actions and abuses to achieve the goals of state social and economic policies to meet public needs. The system of analysis principles of public procurement is reasonably presented: accuracy; completeness; adequacy of information; consistency; relevance; usability; specificity; complexity; consistency; regularity; objectivity; efficiency; economic feasibility; comparativeness; scientificity. The functions of the analysis of public procurement are the following: informative, control, evaluative and diagnostic, search, prognostic, protective, scientific and cognitive. The basic tools will make it possible to build a scientifically based mechanism for the analysis of public procurement.

Throughout the world, there is a growing interest in communities' self-governance of natural resources. However, many self-governance initiatives proceed with difficulty, particularly when these initiatives conflict with established rules and institutions. This paper addresses the question of the extent to which, and under what conditions, self-governance initiatives can become successful in heavily regulated policy fields. It, therefore, analyses a self-governance initiative by a Dutch farmers' association from two theoretical perspectives: Ostrom's institutional design principles and insights from the politics of self-governance. Whereas, Ostrom's principles focus on arranging interactions between the members of a self-governing community and their common resources, the focus of the politics literature is on the negotiations between the community and the governmental authorities to obtain room for self-governance. The paper reveals how the arrangements within the association influenced the negotiation between this community and the involved authorities, and vice versa. This mutual relationship can both positively and negatively influence the accomplishment of self-governance. Adequate self-governance arrangements can help to convince policy-makers to provide room in existing policies to accommodate self-governance. Conversely, policy-makers can help to set conditions for designing successful arrangements. Otherwise, both processes can negatively reinforce each other, and this can result in stalemates and blockades.

The biggest changeover relating to public finance management and control system in Turkey took place with the Public Financial Management and Control Law No. 5018 (the Law), which was enacted on December 10, 2003 to align Turkey’s public financial management and control (PFMC) system with international standards and European Union (EU).

This chapter builds a case for improving India’s public financial management systems, with an eye towards an on-demand architecture that provides stakeholders with information to better link fiscal inputs and outputs with policy outcomes. To achieve these goals, we forward three key principals. One, programmatic and fiscal events ought to be coupled so that each granular transaction is connected to a particular activity. Two, these types of events ought to be co-ordinated such that a programmatic activity, when completed and recorded, triggers a fiscal event. Three, programmatic and fiscal data ought to be recorded at the granular level, close to real-time of when the event happens. We then discuss properties of the overall PFM system to support these architectural shifts.

The “budgeting for SDGs”–B4SDGs–paradigm seeks to coordinate the budgeting process of the fiscal cycle with the sustainable development goals (SDGs) set by the United Nations. Integrating the goals into public financial management systems is crucial for an effective alignment of national development priorities with the objectives set in the 2030 Agenda. Within the dynamic process defined in the B4SDGs framework, the step of SDG budget tagging represents a precondition for subsequent budget diagnostics. However, developing a national SDG taxonomy requires substantial investment in terms of time, human, and administrative resources. Such costs are exacerbated in least-developed countries, which are often characterized by a constrained institutional capacity. The automation of SDG budget tagging could represent a cost-effective solution. We use well-established text analysis and machine learning techniques to explore the scope and scalability of automatic labeling budget programs within the B4SDGs framework. The results show that, while our classifiers can achieve great accuracy, they face limitations when trained with data that is not representative of the institutional setting considered. These findings imply that a national government trying to integrate SDGs into its planning and budgeting practices cannot just rely solely on artificial intelligence (AI) tools and off-the-shelf coding schemes. Our results are relevant to academics and the broader policymaker community, contributing to the debate around the strengths and weaknesses of adopting computer algorithms to assist decision-making processes.

Taking a common-pool resources approach to space sustainability: A framework and potential policies

The objective of this Public Expenditure&#13;\n and Financial Accountability (PEFA) assessment is to review&#13;\n the current performance of the public financial management&#13;\n (PFM) systems, processes, and institutions of the Amhara&#13;\n regional government since the last assessment in 2015. The&#13;\n assessment is aimed at assisting the government in&#13;\n identifying PFM weaknesses that may inhibit effective&#13;\n delivery of services to its citizens and the realization of&#13;\n its development objectives in general. Furthermore, the&#13;\n findings of the PEFA assessment will assist the government&#13;\n in developing a PFM reform strategy and provide the basis&#13;\n for a coherent PFM reform program that can be supported by&#13;\n development partners (DPs), as well as through the&#13;\n government’s own initiatives. The Amhara regional assessment&#13;\n covered regional government budgeted units, extra-budgetary&#13;\n units (EBUs), the Office of the Regional Auditor General&#13;\n (ORAG), the regional council, Amhara Chamber of Commerce,&#13;\n and public enterprises.

The term “political economy” has become ubiquitous in policy debates on public financial management (PFM) systems and their reform. Yet its definition or what exactly people mean when they use the term often remains unclear. There are many ways in which political economy has been theorized over time (Caporaso and Levine 1992). Some of these are particularly relevant for the purposes of this chapter and, more generally, for discussions around budgeting and the design of institutions devoted to the management of public finances. Broadly, we think of a political economy approach as a particular way of analyzing and interpreting economic phenomena that emphasizes the importance of political factors and vice versa. Its focus is on the different actors involved, their potentially conflicting interests and incentives, and the institutions that regulate their behavior, as well as the incentives that such institutions, in turn, may engender. More narrowly, an approach that is sometimes referred to as “positive political economy” or “political economics” has a formal and quantitative focus. The latter entails the application of methods and approaches from the discipline of economics, building on the tools of rational choice and game theory, to study the interrelationship between politics and economics (Alt and Chrystal 1983).

This working paper overviews the challenges posed by resource revenues management and the policy prescriptions to meet them, and focuses on the Public Financial Management (PFM) framework and reforms that resource-producing countries should adopt. The paper outlines a PFM framework and reform path that take into account the institutional diversity of resource-producing countries. In the short term, the proposed reforms highlights the tools that could be implemented even where the PFM system is rather basic, while over the medium and long term they aim at converging with best international PFM practices