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Submitted by H. Halland on

This blog raises a number of interesting issues, including fundamental questions about the nature of public management reform, the risks of using common metrics for performance assessment, and even warnings against “best practice” and a “Washington Consensus” on public management reform. A challenging question in that regard is how the development community should relate to de facto emerging practices for off-budget expenditure, such as the use in many resource-rich developing countries of sovereign wealth funds for domestic investment, or the use of resource financed infrastructure deals to access capital markets and bridge implementation capacity gaps - both topics discussed in recent World Bank publications: Working Paper 6776, and World Bank Study on resource financed infrastructure. Except for this initial work, very little guidance currently exists on the type of safeguards, checks and balances that may be put in place to ensure the discipline, integrity and transparency of domestic investment by SWFs, and that of other recent off-budget expenditure forms. It would be interesting to hear the author’s views on this complex question.