Public finance is not just about money. It's a subject matter that includes all aspects of public sector finances along with the structure of the public sectors, financial institutions, and government activities.
We focus here on how governments raise resources to finance spending without regard to what spending is financed. Public finance policy results from a complex interaction between ideas, interests, and institutions.
The best public finance system for any country is one that reflects its economic structure. It's capacity to administer its public finances, public services, and access to different sources of finance such as taxation, debt, or aid.
The public finance system of any country is both path-dependent and context-specific, reflecting the outcome of complex social and political interactions between different groups in a specific institutional context established by history and state administrate capacity.
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