Search Results (13)

Fiscal capacity is a core dimension of state capacity. Effective oversight of public expenditure is therefore essential for fiscal sustainability, a foundational element of sustainable development. As local government debt has steadily increased in China, participatory budgeting has emerged as an innovative mechanism for citizens to exercise such oversight and influence fiscal decisions. Our paper examines the effect of participatory budgeting on local government debt in China. Using a panel dataset covering 242 Chinese cities from 2013 to 2022, we examine the effect of participatory budgeting adoption on the scale of explicit government debt. Our results show that adopting participatory budgeting moderately reduces local government debt levels. Further mechanism analysis indicates that participatory budgeting operates through two channels. First, by enhancing budgetary transparency, it strengthens public scrutiny, which in turn disciplines government borrowing. Second, it redirects public spending toward welfare sectors like education and health, thereby crowding out large, debt-financed investment projects. Our findings contribute to the literature on participatory budgeting, fiscal democracy, and bottom-up accountability in public finance. The results suggest that participatory budgeting can be an effective policy tool for improving fiscal discipline and curbing government debt risks, ultimately fostering more sustainable and equitable local governance. Full article

The integration of IT services is a critical challenge for public organizations that seek to modernize their operational ecosystems and strengthen mission-oriented processes. In the field of fiscal oversight, supreme audit institutions (SAIs) increasingly require systematized and interoperable service architectures to ensure transparency, accountability, and effective public resource control. However, existing literature reveals persistent gaps concerning how service integration models can be deployed and validated within complex government environments. This study describes an enterprise architecture-driven service integration model designed and evaluated within the Office of the General Comptroller of the Republic of Colombia (Contraloría General de la República, CGR). The study tests the hypothesis that an Enterprise Architecture-driven integration model provides the necessary structural coupling to align technical IT performance with the legal requirements of fiscal oversight, which is an alignment that typically does not appear in generic governance frameworks. The methodological approach followed in this study combines an IT service management maturity assessment, process analysis, architecture repository review, and iterative validation sessions with institutional stakeholders. The model integrates ITILv4 (Information Technology Infrastructure Library), TOGAF (The Open Group Architecture Framework), COBIT (Control Objectives for Information and Related Technologies), and ISO20000 into a coherent framework tailored to the operational and regulatory requirements of an SAI. Results show that the proposed model reduces service fragmentation, improves process standardization, strengthens information governance, and enables a unified service catalog aligned with fiscal oversight functions. The empirical validation demonstrates measurable improvements in service delivery, transparency, and organizational responsiveness. The study contributes to the field of applied system innovation by: (i) providing an integration model, which is scientifically grounded and evidence-based, (ii) demonstrating how hybrid governance and architecture frameworks can be adapted to complex public-sector environments, and (iii) offering a replicable approach for SAIs that seek to modernize their technological service ecosystems through enterprise architecture principles. Future research directions are also discussed to provide guidelines to advance integrated governance and digital transformation in oversight institutions. Full article

The recent expansion of sustainability studies has reshaped corporate governance and public oversight with direct implications for financial exposure and risk management. In particular, environmental auditing generates decision-useful signals on environmental liabilities, remediation and compliance costs, and budgetary/fiscal risks that affect both corporate financing conditions (e.g., cost of capital) and public finance resilience. This study conducts a comparative examination of environmental auditing practices in Moldova and Bulgaria over 2020–2025, asking how audit mandates, coverage, and disclosure practices inform banks, insurers, investors, and budget holders. Using documents from national legal databases and supervisory portals, we apply descriptive content analysis across structural, substantive, and procedural dimensions, with special attention to financial-risk channels (contingent liabilities, sanction risk, value-for-money and procurement risks). We find that Bulgaria exhibits stronger institutional implementation capacity, while Moldova shows legislative innovation; in both cases, stronger transparency, public participation, and digital audit analytics are needed to quantify fiscal and enterprise-level ESG risks. Overall, this paper positions environmental auditing as a governance lever linking sustainability oversight to finance- and risk-related outcomes, aligning with focus on sustainable finance, ESG disclosure, and governance. Full article

This article examines the Participatory Fiscal Control System (SCFP) of the Colombian Comptroller General’s Office as an institutional innovation in democratic oversight. While participatory audit mechanisms have expanded globally, the literature still lacks empirical analyses of how Supreme Audit Institutions (SAIs) operationalize citizen engagement within formal oversight cycles. This study addresses this gap by analyzing the SCFP’s conceptual foundations, regulatory architecture, and implementation mechanisms. Using a qualitative methodological approach based on document analysis, process tracing, and two in-depth case studies, the article evaluates how citizen participation contributes to fiscal accountability and governance outcomes. Findings show that the SCFP enables early risk detection, accelerates problem-solving installed public works, and strengthens accountability in large-scale social programs. The study contributes to theories of participatory and collaborative governance by proposing a conceptual model of “co-produced fiscal oversight,” and identifies policy implications for SAIs seeking to institutionalize citizen engagement as part of their accountability mandate. Full article

Corruption in Colombia remains a critical barrier to development, institutional trust, and equitable access to public services, despite legislative efforts such as the Anti-Corruption Statute. This article explores the intersection between fiscal management and artificial intelligence (AI) as integrated strategies for enhancing transparency, accountability, and risk assessment in public administration. Drawing on theoretical frameworks and empirical data from 2020 to 2022, this study analyzes the scale and impact of corruption and the effectiveness of oversight mechanisms led by the Comptroller General of the Republic (CGR). A key innovation examined is the implementation of a GPT-based scoring model that automates the evaluation of internal accounting controls in 219 public entities. By leveraging AI to support fiscal audits, Colombia demonstrates a scalable approach to modernizing anti-corruption practices. The study concludes with policy recommendations that emphasize digital transformation, institutional strengthening, citizen engagement, and capacity building to improve fiscal governance and reduce corruption. Full article

The Yangtze River fishing ban policy is a central measure in China’s watershed governance, and the adaptability of its policy tools and collaborative mechanisms directly influences the sustainability and effectiveness of basin management. This study systematically examines the evolution of policy themes, the characteristics of policy tool combinations, and their alignment with intergovernmental collaborative governance needs, drawing on 120 central government policy texts issued between 2002 and 2024. Using frequency analysis and policy tool coding, the findings reveal that (1) policy themes have shifted from fishery resource control to comprehensive ecological protection and, more recently, to integrated watershed management, thereby driving progressively higher demands for intergovernmental collaboration. (2) The policy tool structure has long been dominated by environmental tools, supplemented by supply-side tools, while demand-side tools remain underdeveloped. Imbalances persist, such as excessive emphasis on resource inputs over capacity building in supply-side tools, rigid constraints with limited flexibility in environmental tools, and a reliance on publicity while underutilizing market incentives in demand-side tools. (3) Tool combinations have adapted to changing collaboration needs, evolving from rigid constraints and fiscal subsidies to institutional frameworks and cross-regional cooperation, ultimately forming a governance model characterized by systemic guarantees and diversified collaboration. Based on these findings, this study recommends strengthening long-term governance mechanisms, improving cross-regional collaborative structures, authorizing local governments to design context-specific implementation details, enhancing fishermen’s livelihood security and social development, expanding public participation and oversight, and exploring market mechanisms for realizing ecological product value. These measures aim to advance collaborative governance in the Yangtze River Basin and foster a balanced integration of ecological protection and social development. Full article

This systematic review synthesizes evidence on economic instruments that mobilize renewable-energy investment in emerging economies, analyzing 50 peer-reviewed studies published between 2015 and 2025 under PRISMA 2020. We advance an Institutional Capacity Integration Framework that ties instrument efficacy to regulatory, market, and coordination capabilities. Green bonds have mobilized roughly USD 500 billion yet work only where robust oversight and liquid markets exist, offering limited gains for decentralized access. Direct subsidies cut renewable electricity costs by 30–50% and connect 45 million people across varied contexts, but pose fiscal–sustainability risks. Carbon pricing schemes remain rare given their administrative complexity, while multilateral climate funds show moderate effectiveness (coefficients 0.3–0.8) dependent on national coordination strength. Bibliometric mapping with Bibliometrix reveals three fragmented paradigms—market efficiency, state intervention, and international cooperation—and highlights geographic gaps: sub-Saharan Africa represents just 16% of studies despite acute financing barriers. Sixty-eight percent of articles employ descriptive designs, constraining causal inference and reflecting tensions between SDG 7 (affordable energy) and SDG 13 (climate action). Our framework rejects one-size-fits-all prescriptions, recommending phased, context-aligned pathways that progressively build capacity. Policymakers should tailor instrument mixes to institutional realities, and researchers must prioritize causal methods and underrepresented regions through focused initiatives for equitable global progress. Full article

Environmental innovation represents a pivotal pathway toward achieving energy efficiency improvements, carbon footprint reduction, and ecological sustainability enhancement. The research investigates Chinese manufacturing enterprises listed on domestic stock exchanges throughout 2011–2023. The analytical framework utilizes count-based regression methodologies to explore how R&D investment intensity influences eco-innovation capabilities. Results demonstrate curvilinear associations linking R&D expenditure levels with both substantive and strategic environmental innovation achievements across industrial firms. This outcome successfully passed the turning-point test. Environmental oversight and financial incentives produce divergent moderating influences on innovation trajectories. Regulatory frameworks generate restrictive impacts through narrowing optimal investment ranges and dampening peak innovation outputs, whereas fiscal support mechanisms foster expansive effects via broadening resource availability and amplifying achievement levels. Cross-sectional examination uncovers substantial variations among ownership categories and geographical locations. State-owned enterprises demonstrate significantly lower optimal R&D intensity thresholds. Private firms require substantially elevated thresholds for optimal performance. Inland territories manifest unbalanced innovation dynamics. Coastal areas exhibit symmetric innovation patterns. The research enriches empirical knowledge in eco-innovation studies while offering context-specific strategic insights. The findings establish theoretical foundations and practical guidance for policy architects designing integrated environmental management systems that enhance innovation capabilities. Full article

This study aims to improve the state of financial distress, which plagues 64% of South Africa’s municipalities. This fiscal crisis has constrained the quality of basic service delivery to local communities. Even though municipal financial distress dominates South African news headlines, there is a gap in the existing research literature on how to address municipal financial distress practically. This study identified effective turnaround strategies to alleviate financial distress by analyzing regulatory audit reports and audit action plans of municipalities officially classified as financially distressed in May 2018 and subsequently improved their financial affairs. Effective turnaround strategies empower financially distressed municipalities to improve their financial viability by promoting accountability and restoring local communities’ trust in their democratically elected municipal councils. Effective turnaround was achieved through the introduction of internal controls, strengthening governance and oversight, and the implementation of adequate records management practices. This study was conducted in the context of local democratic theory, as elected municipal officials are accountable to residents for the manner in which taxpayers’ money is spent. It aims to assist financially distressed municipalities in becoming financially sustainable and empower them to deliver essential services to local communities in accordance with the United Nations’ Sustainable Development Goals. Full article

This study investigated the impact of mobile financial services on the shadow economy in Southern Africa countries and explored how regulatory quality moderates this relationship. Utilising panel data from 1993 to 2022, this study employed dynamic common-correlated effect (DCCE) and dynamic seemingly unrelated regression (DSUR) methods to assess long-run effects. The findings reveal that increased mobile financial services adoption markedly diminishes the scale of the underground economy by enhancing transaction transparency and accessibility, thus drawing more participants into the formal economy. The results are consistent across DCCE and DSUR estimations. Additionally, improvements in regulatory quality further diminish the shadow economy by bolstering trust and compliance within the financial system, suggesting that well-crafted regulations enhance the effectiveness of mobile financial services. Economic and financial sector developments also contribute to a reduced shadow economy, indicating that broader economic growth and advanced financial systems facilitate formal sector participation. Conversely, larger public sector expenditures appear to expand the shadow economy enterprises, likely due to inefficient resource allocation and increased fiscal burdens that push economic activities underground. Policy recommendations include the need to expand mobile financial services infrastructure, enhance financial literacy, and optimise financial regulatory frameworks to balance oversight with innovation encouragement. Full article

This study aims to develop a Secured Fiscal Credits Model to address the challenges of managing Italy’s “Superbonus 110%” tax credit. Using a decentralised governance approach, our research objective is to provide a feasible system to track and control the entire tax credit process, from generation to redemption. The method integrates Artificial Intelligence and blockchain technology within a Decentralised Autonomous Organisation architecture, combined with a Multi-agent System to establish a tokenomics model. The system is structured to prevent accidental errors, such as double spending or overspending, and detect fraudulent behaviours, like false claims of completed work. Our main findings indicate that deploying two Decentralised Autonomous Organisations on the Algorand blockchain significantly enhances trust and security, supporting effective oversight of the Superbonus process and facilitating transparent value exchange among stakeholders. This decentralised governance model introduces substantial automation, reduces biases, and offers a viable solution to strengthen tax credit management. This work proposes an innovative, technology-driven framework that can be generalised to similar fiscal and governance contexts, enhancing transparency and control. Full article

Effective fiscal control and monitoring of public management are critical for preventing and mitigating corruption, which in turn, enhances government performance and benefits citizens. Given the vast amounts of data involved in government operations, applying advanced data analysis methods is essential for strengthening fiscal oversight. This paper explores data management strategies aimed at enhancing fiscal control, beginning with a bibliometric study to underscore the relevance of this research. The study reviews existing data capture techniques that facilitate fiscal oversight, addresses the challenges of data storage in terms of its nature and the potential for contributing to this goal, and discusses data processing methods that yield actionable insights for analysis and decision-making. Additionally, the paper deals with data interoperability, emphasizing the importance of these practices in ensuring accurate and reliable analysis, especially given the diversity and volume of data within government operations. Data visualization is highlighted as a crucial component, enabling the detection of anomalies and promoting informed decision-making through clear and effective visual representations. The research concludes with a case study on the modernization of fiscal control in Colombia, focusing on the identification of user requirements for various data-related processes. This study provides valuable insights for modern audit and fiscal control entities, emphasizing that data capture, storage, processing, interoperability, and visualization are integral to the effective supervision of public expenditure. By ensuring that public funds are managed with transparency, accountability, and efficiency, the research advances the literature by addressing both the technological aspects of data management and the essential process improvements and human factors required for successful implementation. Full article

This study seeks to undertake a comprehensive analysis and comparison of the corporate income tax systems across select European Union nations, with a specific focus on discerning disparities between the individual income tax (IIT) and corporate income tax (CIT) frameworks prevalent in Portugal, Holland, Belgium, Luxembourg, and Germany. With an institutional theory lens, we applied document analysis to describe the distinctive attributes characterizing each tax regime within the purview of competitive dynamics and fiscal competitiveness. Despite inherent limitations stemming from challenges in accessing tax-related information and potential oversights regarding socio-political determinants, this study underscores the imperative of grasping the intricate interplay between tax imposition levels and broader economic development trajectories. By furnishing valuable insights into prospective reforms pertaining to Portugal’s corporate income tax architecture, this scholarly inquiry significantly enriches our comprehension of tax competitiveness within the overarching framework of the global economic environment. Full article