The Prospect of Developing a Legal Framework for the Budgeting Reform (in Thai)

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Sann Tantichattanon
Orapin Sabyroop
Visahnu Warunyou
Kayjarana Keadlaapol

Abstract

The objectives of studying the prospect of developing a legal framework for the budgeting reform are to understand principles of finance concerning budget system and to understand the concepts of developing a legal framework for making budget covering revenue and expenditure in order to reform budget system in Thailand. The results show that the traditional government budget system emphasizes fiscal discipline in terms of expenditures under assumption that the government revenue is a constant variable. This budget system is called “one-legged budget system.” The experiences of several countries including Thailand has pointed out that such “one-legged budget system” may leads governments into the risk of lacking of fiscal discipline at all time. For this reason, the countries that apply a successful fiscal system to maintain fiscal discipline have developed a system called the "two-legged budget" in order to maintain proper fiscal discipline of the government in terms of both revenue and expenditure.

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How to Cite
Tantichattanon, S., Sabyroop, O. ., Warunyou, V. ., & Keadlaapol , K. . (2019). The Prospect of Developing a Legal Framework for the Budgeting Reform (in Thai). MFU Connexion: Journal of Humanities and Social Sciences, 8(2), 1–18. Retrieved from https://so05.tci-thaijo.org/index.php/MFUconnexion/article/view/241024
Section
Research article

References

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