Reforming Public Finance: What Works, What Fails, and Why

In an era where public finance reform is more critical--and more complex--than ever, this Palgrave Pivot offers both clarity and actionable insight. Part A provides a comprehensive overview of the core issues at stake in reforming public finances, drawing heavily on IMF and World Bank experiences: What exactly does reform mean? What are the root causes and main forms of the problems countries face? "Which best practices and country examples, including AI opportunities and challenges, illuminate the path forward?" And crucially, what obstacles stand in the way of sustainable, effective change?

Part B delivers a concise, comparative assessment of 70 distinct reform types, weighing their advantages and disadvantages and offering a practical framework for prioritization. Using ten clear criteria, the book helps decision-makers determine which reforms are both urgent and feasible--cutting through the noise of overambitious strategies and highlighting what truly matters.

Challenging the status quo, the book critiques the prevailing technocratic approach to public finance reform, arguing for a shift toward managing political complexity and fostering institutional collaboration. It recognizes that while reform is often framed as a technical challenge, it is inherently political--disrupting entrenched interests, reallocating resources, and confronting inefficiency and corruption. Written for policy makers, finance ministers, their deputies, and senior advisors, this book seeks to move beyond one-size-fits-all solutions and drive real, lasting change in public finance.