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1、IMFStaffPapersVol.53,SpecialIssue©2006InternationalMonetaryFundTheCausesofFiscalTransparency:EvidencefromtheU.S.StatesJAMESE.ALT,DAVIDDREYERLASSEN,andSHANNAROSE*WeuseuniquepaneldataontheevolutionoftransparentbudgetproceduresintheU.S.statesoverthepastthr
2、eedecadestoexplorethepoliticalandeconomicdeter-minantsoffiscaltransparency.Ourcasestudiesandquantitativeanalysissuggestthatbothpoliticsandfiscalpolicyoutcomesinfluencetheleveloftransparency.Moreequalpoliticalcompetitionandpowersharingareassociatedwithbo
3、thgreaterlevelsofandincreasesinfiscaltransparencyduringthesampleperiod.Politicalpolarizationandpastfiscalconditions,inparticularstategovernmentdebtandbudgetimbalances,alsoappeartoaffecttheleveloftransparency.[JELD72,D78,H70]Fromapolicyperspective,govern
4、menttransparencyhasbeenanintegralpartofattemptstoreformpublicsectorgovernancesinceatleasttheearly1990s.Broadlydefined,governmenttransparencyistheoveralldegreetowhichcitizens,themedia,andfinancialmarketscanobservethegovernment’sstrategies,itsactions,andt
5、heresultingoutcomes.Inthispaper,wefocusononeimportantaspectoftransparency:fiscal(orbudget)transparency.Fiscaltransparencynowplaysakeyroleinpublicsectordesign;boththeOrganizationforEconomicCooperationandDevelopment(OECD)andtheIMFhaverecentlyimplementedCo
6、desofBest*JamesE.AltisFrankG.ThomsonProfessorofGovernment,HarvardUniversity;DavidDreyerLassenisAssociateProfessorofEconomics,UniversityofCopenhagen;andShannaRoseisAssistantProfessorintheRobertF.WagnerSchoolofPublicService,NewYorkUniversity.Theauthorstha
7、nkGianMariaMilesi-Ferretti;IlyanaKuziemko;andparticipantsattheColloquiumonLaw,Economics,andPoliticsatNewYorkUniversity,andtheIMFAnnualResearchConferenceforhelpfulsuggestions.LassenthankstheEconomicPolicyResearchUnitnetworkforfunding.30THECAUSESOFFISCALT
8、RANSPARENCY:EVIDENCEFROMTHEU.S.STATESPracticeforFiscalTransparencytoguidecountriestowardamoreopenfiscalpolicydecisionprocess,partlyinrecognitionofthefactthatfiscaltransparencydoesnotalwayscomeaboutbyitself.Althoughitissometimespo
