Study Of Financial Transparency Issues

With the increasing improvement of economy and financial globalization since 1990s last century, fiscal transparency first gained wide attention among the western developed country. At present, the fiscal transparency in our country has lagged behind many developed countries, even behind some developing countries. As a intensified trend of market-oriented economy and the legal development of fiscal management, the pubic has become more and more concerned about fiscal transparency and the purpose,structure and effect of government expenditure. Fiscal transparency is a basic requirement of public finance, and it is in favor of improving management efficiency, lowering government administrative cost, promoting the stability of macro-economy and the continuity of the service function of government. Now our Government is implementing a package of economic stimulus policy to control the macro-economy under the impact of worldwide financial crisis. At the same time the problem of fiscal transparency will be put into the front with the rapid growth of government expenditure. This study is based on existing literatures involved fiscal transparency, and then through analyzing the actuality in our country after using experience internationally as a source of reference to finally give a specific proposal on fiscal transparency which contains five aspect: Construct a sound legal system for ensuring fiscal transparency; Raise the transparency of the budget process; Establish full-scale disclosure system of fiscal information; Promote the fiscal supervising system; Promote the techniques to sustain fiscal transparency.