Aman Khan,Kenneth A. Kriz
Forecasting Government Budgets: Methods and Applications
Forecasting Government Budgets: Methods and Applications
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Forecasting is essential for a government to carry out its operations in a planned and organized manner, and the book provides a number of well-established methods for producing reliable forecasts at the sub-national level.
Format: Hardback
Length: 268 pages
Publication date: 15 December 2022
Publisher: Lexington Books
A budget serves as the beating heart of a government, and forecasting plays a vital role in its creation. For a government to function effectively and efficiently in its day-to-day operations, it requires a thorough understanding of its future revenues and expenditures, which is essentially reflected in its budget. Forecasting provides the necessary insights by generating estimates of these financial figures based on historical data and current trends. These estimates help determine whether the government will have sufficient resources to carry out its routine and non-routine activities, ensuring that its operations are planned and organized accordingly.
This concept of forecasting is particularly relevant at the sub-national level, where state and local governments are legally mandated to balance their budgets, particularly their operating budgets. Without accurate and reliable forecasts, it becomes challenging to identify the necessary measures to achieve budget balance or ensure that revenues and expenditures align.
The book, written in a straightforward and accessible style, presents a range of well-established methods, both simple and advanced, including some recent developments in budget forecasting. While primarily aimed at graduate students in public administration and government practitioners, students from other disciplines will also find it valuable.
By delving into the intricacies of budget forecasting, this book offers valuable insights and practical tools for policymakers, administrators, and anyone interested in understanding the financial aspects of government operations. It serves as a comprehensive guide that empowers individuals to make informed decisions and contribute to the effective management of public resources.
Weight: 227g
Dimension: 229 x 152 (mm)
ISBN-13: 9781793613103
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