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FIGURE 4: EXTERNAL AUDITING AND BUDGET TRANSPARENCY

0.65

0.60

Index of budget transparenc (IBP 2003)

0.55

0.50

0.45

0.40

0.35

0.30

R y = 0.3545x + 0.304 2 = 0 . 3 6 2 2

0.25

0.20 0.00

0.10

0.20 0.30 0.40 0.50 Effectiveness of external audit agencies

0.60

0.70

Source: Budget transparency is measured by the Latin American Index of Budget Transparency of the International Budget Project (IBP) (Lavielle et al. 2003). To mitigate endoigeneity problems, we use the aggregate perception index of budget transparency, which is constructed differently from the series of disaggregated indicators of transparency of the different phases of the budgetary process.

FIGURE 5: EXTERNAL AUDITING AND BUREAUCRATIC QUALITY

0.7

Quality of civil servic (Longo 2005)

0.6

0.5

0.4

0.3

0.2

y = 0.9649x - 0.0626 R2 = 0.4619

0.1

0

0.00

0.10

0.20 0.30 0.40 0.50 Effectiveness of external audit agencies

0.60

0.70

Source: Government effectiveness and bureaucratic quality are measured using a recently devised indicator of the quality of civil services in the region, on a normalized scale from zero to 1, with greater values reflecting more effective bureaucracies (Longo 2005, 2003).

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