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The Effect of a Capital Budget on Capital Spending in the U.S. StatesPlotnikova, Maria 27 June 2005 (has links)
This thesis analyzes the impact of capital budget on capital spending in the U.S. states. The analysis is based on the James Poterba's 1995 study of the impact of a capital budget on capital spending using 1962 U.S. state-level data. I first replicate Poterba's model using the 1992-1996 data set that I had constructed for this study. I then extend Poterba's model to include a set of variables that allows exploration of the specific effects of the regulatory environment on spending outcomes in each state. These are mainly categorical variables that classify states in accordance with their definition of capital expenditure, organization of capital planning process, project selection and cost estimating techniques and capital financing practices. These were constructed using the data of the 1997 NASBO survey after reviewing the suggestions of practitioners and policy makers, as well as those engaged in research in this field. The introduction of a set of budget rule/budget composition variables into the analysis is an important contribution of this study. I also introduce additional control variables such as those controlling for the age of infrastructure. This study supports the claim that government spending is determined by a host of causal factors that can be grouped into four broad categories, (1) demographic-economic factors, representing both demand for public capital and source of its financing, (2) political decision-making factors that reflect electorate/party in power preferences for spending, (3) capital stock variables that relate to the age of infrastructure and control for spending culture in a state, and (4) budget composition/spending rules. The main finding of this study is the confirmation of Poterba's finding with respect to the positive effect of capital budget on capital spending using a recent data set and longer time frame of analysis. Another major contribution of this study is a statistically significant effect of sixteen spending rule/ budget composition variables. The results of this study support the basic premise found in the literature that budget process affects capital spending. / Master of Public and International Affairs
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Técnicas de análise de investimentos aplicadas à gestão de custos em projetos direcionados pelo prazoKawabuchi, Eduardo Noboru 22 May 2013 (has links)
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Previous issue date: 2013-05-22 / The use of financial mathematics in project management usually is confined to preproject
activities, being part of technical and economic feasibility atudy. After the start of the
implementation of the project, it was found that the cost management is accomplished without
further considers that a monetary unit does not have the same financial value on different
dates. The existing literature on the project cost management does not address the issue. With
this, is not established a direct relationship between the duration and costs of the Project,
which is not true. A delay in any delivery of the project may not only reflect a negative result,
it could mean a financial gain to the Project as a whole, at the same time that advances in
deliveries may not always reflect only a positive result, it may adversely affect the financial
result of the Project. This paper proposes a methodology the complement the traditional
project cost management, integrated with capital budgeting practices in order to provide
information that give support to decision making aimed at maximizing the return on
investment / O uso da matemática financeira em gerenciamento de projetos costuma ficar
circunscrito a atividades de pré-projeto, sendo parte integrante do EVTE (Estudo de
Viabilidade Técnico-Econômica). Após o início da implantação do projeto, foi constatado que
o gerenciamento de custos é realizado sem mais considerar que uma unidade monetária não
tem o mesmo valor financeiro em datas diferentes. A literatura existente sobre o
gerenciamento de custos em projeto não aborda o assunto. Com isso, não é estabelecida uma
relação direta entre os prazos e os custos do Projeto, o que não é verdade. Um atraso em
alguma entrega do Projeto pode não refletir apenas um resultado negativo, podendo significar
um ganho financeiro ao Projeto como um todo, ao mesmo tempo em que antecipações em
entregas nem sempre podem refletir apenas um resultado positivo, podendo causar efeitos
negativos no resultado financeiro do Projeto. Esta dissertação vem propor uma metodologia
complementar ao gerenciamento tradicional de custos de projetos, integrada às técnicas de
análise de investimento, de forma a fornecer informações que deem suporte para a tomada de
decisão visando a maximização do retorno do investimento
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Análisis económico del sistema presupuestario y de la estructura de los Presupuestos Generales del Estado en Burundi (1962-2012)= Analyse economique du système budgétaire et de la structure du Budget Général de l´Etat au Burundi (1962-2012).Funenge, Blaise 07 June 2013 (has links)
Burundi realiza una práctica presupuestaria cercana a los modelos jurídicos napoleónicos y Westminster usados en los sistemas presupuestarios de los países de la OCDE. Es un país sin ingresos fiscales interiores suficientes porque el 90% de la población vive de la economía de subsistencia. Esto provoca una dependencia de las transferencias y préstamos externos de los presupuestos generales del Estado. Este trabajo analiza cualitativamente y descriptivamente los presupuestos generales del Estado burundés. Se muestra que el marco institucional presupuestario está modernizado y armonizado con la contabilidad por partida doble sin integrarse en la contabilidad estatal que sigue siendo de line ítems. Las cifras presupuestarias muestran una preponderancia de las transferencias externas, lo que dirige los fondos correspondientes hacia programas aislados del marco de control presupuestario clásico, propio de las economías avanzadas. Por consiguiente, los presupuestos corrientes se ajustan al comportamiento de los ingresos externos favoreciendo así la corrupción. / States as Burundi implement budgeting practices similar to the napoleonic
and Westminster legal models used by OECD states budgeting systems.
Burundi State has not enough budgeting domestic fiscal receipts because
90% of his population lives in a subsistence economy. That causes exterior
aid and debt dependence respect to Burundi State general budget which is
analyzed qualitatively and descriptively in this study. This analysis shows
that the institutional budget legal framework is modernized with an accrual
budgeting and accounting basis but it practically stays working in line items
practices. Budgetary aggregates evolution shows a speculation on exterior
aid/grants and debt. This problem orients correspondent founds to isolated
programs from a classic budget control framework in advanced economies.
In this way, the ordinary budget is adjusted to exterior receipts behavior
which favors corruption. / Les Etats comme le Burundi réalisent une pratique budgétaire proche des
modèles juridiques napoléoniens et Westminster utilisés par les systèmes
budgétaires des Etats de l’OCDE. C’est un Etat sans recettes fiscales
intérieures suffisantes, 90% de la population vivant dans une économie de
subsistance. Cela provoque une dépendance aux dons et à la dette extérieure
du budget général de l’Etat burundais que ce travail analyse qualitativement
et descriptivement. L’étude montre que son cadre institutionnel budgétaire
est modernisé par une prévision budgétaire harmonisée avec la comptabilité
à partie double sans l’implanter dans la comptabilité de l’Etat qui reste de
line items. Aussi, l’évolution des agrégats budgétaires montre une
spéculation sur l’aide/don et la dette extérieure, ce qui oriente les fonds
correspondants vers des programmes isolés du cadre de contrôle budgétaire
classique des économies avancées. Ainsi, le budget courant s’ajuste au
comportement des recettes extérieures ce qui favorise la corruption.
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