The article "Establishing an Agenda for Public Budgeting and Finance Research" by Bruce D. McDonald III and colleagues aims to bridge the gap between academic research and practical needs in the field of public budgeting and finance. The authors highlight the disconnect between the research conducted by academics and the challenges faced by practitioners, which often leads to a misalignment of research focus. To address this issue, they propose a research agenda that aligns with the needs of both communities.
The article outlines ten key areas where research is most needed, including budgeting systems, community engagement, social equity budgeting, tax and revenue, fiscal health, capital budgeting, data and methods, emergency management, education finance, and managing budget offices. These areas were identified through a survey and ranked-choice voting process, which revealed that the two primary areas of focus are fiscal health and social equity budgeting.
The authors emphasize the importance of improving the fiscal health of governments, particularly in the context of the Great Recession, the COVID-19 pandemic, and increasing politicization. They also stress the need to incorporate social equity principles into the budgeting process, addressing issues such as equitable budget allocations and the impact of past budgeting inequities on socioeconomic and racial disparities.
The article concludes by advocating for a more inclusive and practical approach to public budgeting and finance research, ensuring that the insights generated are relevant and actionable for both academics and practitioners.The article "Establishing an Agenda for Public Budgeting and Finance Research" by Bruce D. McDonald III and colleagues aims to bridge the gap between academic research and practical needs in the field of public budgeting and finance. The authors highlight the disconnect between the research conducted by academics and the challenges faced by practitioners, which often leads to a misalignment of research focus. To address this issue, they propose a research agenda that aligns with the needs of both communities.
The article outlines ten key areas where research is most needed, including budgeting systems, community engagement, social equity budgeting, tax and revenue, fiscal health, capital budgeting, data and methods, emergency management, education finance, and managing budget offices. These areas were identified through a survey and ranked-choice voting process, which revealed that the two primary areas of focus are fiscal health and social equity budgeting.
The authors emphasize the importance of improving the fiscal health of governments, particularly in the context of the Great Recession, the COVID-19 pandemic, and increasing politicization. They also stress the need to incorporate social equity principles into the budgeting process, addressing issues such as equitable budget allocations and the impact of past budgeting inequities on socioeconomic and racial disparities.
The article concludes by advocating for a more inclusive and practical approach to public budgeting and finance research, ensuring that the insights generated are relevant and actionable for both academics and practitioners.