Fiscal and Financial Transparency

  • Johann SeiwaldEmail author
Living reference work entry



Fiscal transparency can be broadly defined as the state of openness and accountability in fiscal decision-making through which fiscal policy-making and implementation as well as budget preparation and execution processes are subject to greater public scrutiny. The IMF (2012) choses a more narrow definition and defines it as “the comprehensiveness, clarity, reliability, timeliness, and relevance of public reporting on the past, present, and future state of public finances.” The OECD (2002) has chosen a synonym, “budget transparency,” defined in a similar narrow way as “the full disclosure of all relevant fiscal information in a timely and systematic manner.”

Financial transparencyis a less specific concept and does not specifically refer to fiscal policy-making but applies to a wider range of organizations and aims at the visibility or accessibility of financial information, especially concerning business practices of (public...


Fiscal Policy Fiscal Rule International Transparency Fiscal Transparency Budget Information 
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Copyright information

© Springer International Publishing AG 2016

Authors and Affiliations

  1. 1.International Monetary FundWashingtonUSA