This panel focuses on how institutional, political or cultural changes have affected governance, specifically the formulation and implementation of fiscal policy. The panel will consider how institutional, political, and cultural changes, such as changes in the political landscape, changes in public perceptions and stakeholder values, and changes in management structure have affected the attitudes and decision-making processes of public managers making or implementing fiscal policies. The panel considers how these institutional, political, and cultural changes relate to the interactions between citizens, key stakeholder groups, government agencies and public or nonprofit managers. The key research questions considered focus on how public managers or government bodies have adjusted the way they formulate and implement fiscal policy as a result of these changes, especially since the great recession, and whether this has resulted in positive outcomes for governance. These changes include those in ethical standards, changes in public trust in government accountability, changes in risk taking and innovative behavior in governance, and changes in the attitudes and behavior of public managers toward fiscal policy formulation and implementation.