Fiscal Oversight Research Articles

Corporate Leverage in Emerging Markets: Discussing the Implications for Legislative Fiscal Oversight

The last decade has witnessed a surge of leveraging activity among emerging market corporations, and this has major implications both for riskiness in global equities, as well as for the mechanisms for fiscal oversight such as legislative scrutiny of national debt levels in developing countries. This discussion provides an overview of the major concerns that have emerged due to corporate leveraging in emerging markets from (1) a legislative scrutiny standpoint, and (2) stock market returns. The discussion emerges at a time (2016) when emerging economies are already faced with severe stock market turmoil, making these considerations all the more pertinent and timely.

Human Rights Based Budget Analysis and Devolved Government in Northern Ireland

Human rights have often been dominated by the contributions of lawyers and courts. Whilst lawyers and courts certainly have major contributions to make in this field, recently there has been more attention devoted to the contribution of other disciplines and other actors. One important example of this is the discussion on the contribution of legislative assemblies to the protection of human rights. Increasingly we find that legislatures are considering human rights issues. In this paper I intend to look at one area where legislative assemblies may offer a distinctive contribution to human rights protection, when exercising their historic role in matters of finance and budgets. The purpose of this paper is to see how human rights principles overlap with the practice of a parliamentary committee involved in fiscal oversight. To that end, this paper analyses the discussion of the Northern Irish Budget 2011-2015 from the perspective of human rights principles, especially those principles derived from ICESCR. The aim is to see what is the ‘fit’ or congruence between the concepts used in such debates and scrutiny and the concepts used in human rights law. Some congruence would be welcome as it would suggest that human rights principles might be taken up or even championed by some of those who already participate in such debate and scrutiny. However, human rights principles will only be useful if they add value to such debates. The paper concludes that there is significant overlap and that there are benefits to incorporating specific human rights considerations in parliamentary procedures.

Does Fiscal Oversight Matter?

Does Fiscal Oversight Matter?

Promoting Cooperative Federalism Through State Shared Savings

The Affordable Care Act is transforming American federalism and creating strain between the states and the federal government. By expanding the scale of intergovernmental health programs, creating new state requirements, and setting the stage for increased federal fiscal oversight, the act has disturbed an uneasy truce in American federalism. This article outlines a policy proposal designed to harness cooperative federalism, based on the shared state and federal desire to control health care cost growth. The proposal, which borrows features of the Medicare Shared Savings Program, would provide states with an incentive in the form of an increased share of the savings they generate in programs that have federal financial participation, as long as they meet defined performance standards.

Transfer Pricing Disputes, Abusive Tax Schemes and the Protection of the European Convention on Human Rights against Oppressive Tax Actions: The Yukos Case

Following the global financial crisis, taxpayers are subject to more effective levels of taxation and fiscal oversight and tax procedures. The protection of the European Convention on Human Rights against oppressive fiscal actions, arbitrary and pseudo-confiscatory taxation should, however, not be underestimated, as is clearly demonstrated by the Yukos case.

Shifting Fiscal Control to Limit Cadre Power in China's Townships and Villages

AbstractIn contrast to its decentralized political economy model of the 1980s, China took a surprising turn towards recentralization in the mid-1990s. Its fiscal centralization, starting with the 1994 tax reforms, is well known, but political recentralization also has been under way to control cadres directly at township and village levels. Little-noticed measures designed to tighten administrative and fiscal regulation began to be implemented during approximately the same period in the mid-1990s. Over time these measures have succeeded in hollowing out the power of village and township cadres. The increasing reach of the central state is the direct result of explicit state policies that have taken power over economic resources that were once under the control of village and township cadres. This article examines the broad shift towards recentralization by examining the fiscal and political consequences of these policies at the village and township levels. Evidence for this shift comes from new survey data on village-level investments, administrative regulation and fiscal oversight, as well as township-level fiscal revenues, expenditures, transfers (between counties and townships) and public-goods investments.

California: A Failed State or Too Big to Fail?

THE CALIFORNIA Journal of Politics & Policy Volume 3, Issue 2 California: Failed State or Too Big to Fail? John L. Korey California State Polytechnic University, Pomona Abstract This report will begin with a discussion of various reasons for the state’s crisis. This will be followed by a brief explanation of California’s budget process, a description of how that process played out this year, some proposed solutions to the state’s “structural” deficit, and the outlook for the short, intermediate, and long term. Keywords: California budget, taxes, fiscal oversight, economic growth www.bepress.com/cjpp

California's Future Tax System

THE CALIFORNIA Journal of Politics & Policy Volume 2, Issue 3 California’s Future Tax System* Alan J. Auerbach University of California, Berkeley Abstract California’s fiscal problems go well beyond the design of its tax system, but its tax system has contributed to these problems. The nature of this contribution is subject to dispute. California’s tax system is clearly not the outcome of a coherent design process, but more the result of a combination of historical inertia and political and legal constraints. Certain improvements to the tax system cannot be contemplat- ed without legal changes at the state or federal level; others would involve sharp breaks with the past and with common practice in other states. In this paper I review the structure of California’s tax system and consider the various criticisms to which it is subject. I also discuss the most recent organized attempt to reform California’s tax system by the Commission on the 21st Century Economy. Keywords: California budget, tax reform, fiscal oversight, economic growth * This is a revised version of a paper presented at a conference, “Too Big to Fail? Reforming California’s Constitution for the 21st Century,” held at USC, February 16-17, 2010. I am grateful to participants at the conference for their comments and suggestions. www.bepress.com/cjpp

Must Constitutional Change Precede Budget Improvement? A Note on State Deficits and Procedural Change

THE CALIFORNIA Journal of Politics & Policy Volume 2, Issue 3 Must Constitutional Change Precede Budget Improvement? A Note on State Deficits and Procedural Change John Decker Fiscal Advisor to State Treasurer Bill Lockyer Abstract Passing a workable budget is so fundamental to governance that Californians can be forgiven their disappointments and search for “reform.” But change does not have to rely on voter-ratified constitutional proposals. The California legislature could improve budgets by changing its internal procedures. The legislature could use internal rules and processes to condition how it reviews, negotiates, and amends the budget document. After all, the legislature has great flexibility in setting its own rules for considering how any legislation is considered and approved—and the bud- get bill is a statutory measure. Keywords: California budget, fiscal oversight, taxes, spending www.bepress.com/cjpp

Changing Tracks? The Prospect for California Pension Reform

THE CALIFORNIA Journal of Politics & Policy Volume 2, Issue 3 Changing Tracks? The Prospect for California Pension Reform Vladimir Kogan University of California, San Diego Mathew D. McCubbins University of Southern California Abstract Though they cover one-tenth of all adult Californians, the state’s two largest pen- sion funds face a bleak future, with a combined deficit in the hundreds of billions of dollars. In this paper, we examine the politics and policies behind the state’s pension train wreck, identifying two primary causes of the crisis. First, re-election minded officials have systematically underfunded the state’s public pensions in an effort to balance the budget. Second, to make up for this underfunding, pension administrators have taken on increasing risk, investing a majority of the systems’ assets on corporate stocks. This voter-sanctioned policy shift has exposed the pen- sion funds, and their government sponsors, to increasing stock market volatility, resulting in growing pension payments at precisely the moment that state and local governments can least afford to make them. Keywords: California budget, pension reform, fiscal oversight www.bepress.com/cjpp

101 Things to Know or Do as a Wyoming County Library Board Member

Created by the staff of the Wyoming State Library, this online “flip list” of 101 items is an introductory checklist of fiscal and policy oversight responsibilities and communication efforts that all trustees of libraries ought to know and carry around in their heads as they function as governance spokespersons for their various systems.

Your Assembly Representative Works for You

Back to table of contents Previous article Next article From the SpeakerFull AccessYour Assembly Representative Works for YouJames Nininger, M.D.James NiningerSearch for more papers by this author, M.D.Published Online:20 May 2005https://doi.org/10.1176/pn.40.10.00400026 I am writing this column to help acquaint members with the role and function of the APA Assembly and to encourage members to better utilize a valuable resource, the Assembly representative.The Assembly, with representatives from all of APA's district branches, minority/underrepresented groups, and allied organizations, is meant to debate and represent the concerns of you, the members, and generate action papers for consideration by the Board of Trustees on the full range of issues facing psychiatrists today.Any APA member can propose an action paper for his or her representative to bring forward for the Assembly's consideration. Consultation from relevant councils and committees on action papers is encouraged, and Assembly members are broadly represented on those components to facilitate the process.The Assembly meets twice a year—just before the annual meeting and in November. The seven Area Councils meet at least once before each Assembly meeting.Brief HistoryIn 1952, when district branch members expressed an interest to have their representatives influence APA's direction, APA's bylaws were changed to create the Assembly of District Branches. In 1953 the Assembly represented 16 district branches and 8,000 members.Representation for the first 25 years was entirely geographic. Then in 1978 the Assembly voted to add representation from APA's recognized minority/underrepresented groups, and 10 years later members-in-training were added. In 1994 a district branch with Assembly representatives from the uniformed services was organized, and in 1996 early career psychiatrists joined. Over the next several years, other psychiatric organizations, especially those representing subspecialties, were encouraged to provide nonvoting liaisons; now 17 “allied organizations” are represented in the Assembly, and each has a vote.There have been many discussions about the optimal size and representational structure of the Assembly, and currently each district branch has at least one voting representative, while larger district branches have one voting representative for every 450 voting members or portion thereof (for example, a district branch of 1,100 would have three voting representatives). Three states—California, New York, and Missouri—have more than one district branch.Geographical Area Councils were formed shortly after the Assembly was constituted, and the Areas (originally five, now seven) gradually began to meet between meetings.What Does the Assembly Do?The Assembly has asked the Board of Trustees for financial and organizational help for district branches needing assistance in funding their infrastructure, recruitment and retention of members, and legislative battles such as attaining nondiscriminatory insurance coverage for mental illness, including substance abuse, and preventing psychologist prescription privileges. The Board has been responsive, and a number of initiatives are available to help district branches in need. (Ask your rep.)Though the role of the Assembly is advisory to the Board of Trustees, the Assembly can have a profound effect on APA policy and direction. The Assembly was instrumental in urging increased definition and attention to APA's organizational priorities; increasing fiscal oversight and open communication regarding our activities; and improving collaboration and coordination between the Assembly, the councils and other components, and the Board.Assembly members volunteer much time and work hard for you—our members—and patients. We encourage you to make greater use of your Assembly reps and communicate with them more often.You can find the names and contact information of your Assembly reps by contacting your local district branch or by logging into Members Corner at APA's Web site at<www.psych.org> and clicking on “Directory of Components.” Then, under “Or Search by Position Title,” you'll see two boxes with drop-down menus; select “District Branches” in the first and then “Reps and Dep Reps” in the second.Your reps are your conduit to raising issues of concern at the Assembly. They are also a valuable source of information on APA activities and can guide you to resource documents and position statements as well as get you involved in legislative or public affairs activities. Many district branches are developing list serves through which your reps can hear from you and keep you informed about important issues and developments in a timely fashion.If you are reading this while attending APA's 2005 annual meeting in Atlanta, take a few moments to contact your reps. They'll be working on your behalf during the Assembly's semiannual meeting as well as participating in APA's annual meeting. They are truly APA's “unsung heroes”!▪ ISSUES NewArchived

Budgeting the work force: Influences, elements, disclosure strategies, and roles

Work force budgeting is a comprehensive view of allocating resources recognizing that expenses flow from the use and remuneration of organizational members. The purpose of this essay is to: examine the influences and elements of work force budgeting; enhance the disclosure of such choices; and, isolate the tension in fiscal oversight of personnel decisions. It is incumbent upon managers to acquire, deploy, and control human resources in the production of public goods and services. An humane and ethical bureaucracy has to meet tests of efficiency and effectiveness. This essay supports the proposition that service delivery goals should guide budget decisions instead of simply having decisions premised upon adding up the cost of existing staffing patterns.

Community land grants: The legacy

This is a study of the contemporary situations and modes of operation on New Mexico's remaining Hispanic community land grants. Fourteen grants with significant amounts of community land were identified. Operation and management of community land presents several unique problems not encountered on other public or private lands and therefore are not usually addressed. For that reason, this land merits special attention. Problems encountered by the grants include difficulties with titles, inadequate legal framework, inadequate fiscal oversight and inadequate resource conservation. Possible remedies for these problems are discussed. An umbrella organization of the grants, which would provide an effective means to lobby for needed legislation and other assistance, is also recommended.

Form and Function of Mental Health Authorities at RWJ Foundation Program Sites: Preliminary Observations

The Robert Wood Johnson Foundation Program on Chronic Mental Illness provides support for broad change in the organization, financing, and delivery of services in public systems of care for chronic mentally ill persons. To address the lack of an organizational locus of responsibility in these systems, the foundation proposed that each of the nine cities participating in the program create a mental health authority that would centralize administrative, clinical, and fiscal oversight. The authors present site-by-site observations of the developing mental health authorities at the end of the program's two-and-a-half-year planning phase. They conclude that although the Robert Wood Johnson Foundation grant represented a significant incentive for innovation, at this relatively early stage in the demonstration authorities at only a few sites had achieved direct clinical responsibility for chronic mentally ill persons. Although services had expanded, no site had yet developed a comprehensive system of care that included inpatient services as well as a full range of ambulatory, housing, and social welfare services.

Legislative Review and Bureaucratic Responsibility: The Impact of Fiscal Oversight by Congress on the American Federal Administration

Legislative Review and Bureaucratic Responsibility: The Impact of Fiscal Oversight by Congress on the American Federal Administration