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IMF Conditionality and Country Ownership of Programs

IMF Conditionality and Country Ownership of Programs »

Source: IMF Conditionality and Country Ownership of Programs

Volume/Issue: 2001/142

Series: IMF Working Papers

Author(s): Mohsin Khan , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451856255

Keywords: IMF-supported programs, ownership, principal-agent, moral-hazard, structural conditionality, moral hazard, capital markets, international capital markets, Asymmetric and Private Information, International Lending and Debt Problems

The paper uses finance and agency theory to establish two main propositions: First, that the conditionality attached to adjustment programs supported by the IMF is justified. Second, that ownership of programs by t...

IMF Conditionality and Country Ownership of Programs

IMF Conditionality and Country Ownership of Programs »

Volume/Issue: 2001/142

Series: IMF Working Papers

Author(s): Mohsin Khan , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

DOI: http://dx.doi.org/10.5089/9781451856255.001

ISBN: 9781451856255

Keywords: IMF-supported programs, ownership, principal-agent, moral-hazard, structural conditionality, moral hazard, capital markets, international capital markets, Asymmetric and Private Information, International Lending and Debt Problems

The paper uses finance and agency theory to establish two main propositions: First, that the conditionality attached to adjustment programs supported by the IMF is justified. Second, that ownership of programs by t...

Information Rigidities
			: Comparing Average and Individual Forecasts for a Large International Panel

Information Rigidities : Comparing Average and Individual Forecasts for a Large International Panel »

Volume/Issue: 2014/31

Series: IMF Working Papers

Author(s): Jonas Dovern , Ulrich Fritsche , Prakash Loungani , and Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2014

DOI: http://dx.doi.org/10.5089/9781484305201.001

ISBN: 9781484305201

Keywords: Rational inattention, aggregation bias, growth forecasts, information rigidity, forecast behaviour, emerging economies, econometrics, parameters, Forecasting and Simulation,

We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989-2010. We show that the degree of information rigidity in average forecasts is s...

Measuring Oil-Price Shocks Using Market-Based Information

Measuring Oil-Price Shocks Using Market-Based Information »

Volume/Issue: 2012/19

Series: IMF Working Papers

Author(s): Tao Wu , and Michele Cavallo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931810.001

ISBN: 9781463931810

Keywords: Oil Shocks, Market-Based Information, VAR Identification, oil market, opec, equation, oil demand, Multiple or Simultaneous Equation Models: Time-Series Models, Methodology for Collecting, Estimating

We study the effects of oil-price shocks on the U.S. economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then...

Structural Reforms and Regional Convergence

Structural Reforms and Regional Convergence »

Volume/Issue: 2012/106

Series: IMF Working Papers

Author(s): Antonio Spilimbergo , and Natasha Che

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

DOI: http://dx.doi.org/10.5089/9781475503272.001

ISBN: 9781475503272

Keywords: Structural reforms, regional convergence, equation, wage, minimum wage, severance payment, statistics, Macroeconomic Analyses of Economic Development, Economic Development: Regional, Urban

Which structural reforms affect the speed the regional convergence within a country? We found that domestic financial development, trade/current account openness, better institutional infrastructure, and selected l...

The Persistence of Corruption and Regulatory Compliance Failures
			: Theory and Evidence

The Persistence of Corruption and Regulatory Compliance Failures : Theory and Evidence »

Volume/Issue: 2003/172

Series: IMF Working Papers

Author(s): Per Fredriksson , Muthukumara Mani , and Richard Damania

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

DOI: http://dx.doi.org/10.5089/9781451858594.001

ISBN: 9781451858594

Keywords: rule of law, lobbying, political instability, bureaucracy, judicial efficiency, political stability, political economy, common law, judicial system, Models of Political Processes: Rent-seeking

This paper examines the reasons why corruption and policy distortions tend to exhibit a high degree of persistence in certain regimes. We identify circumstances under which a firm seeks to evade regulations by (1)...

Tourism Specialization and Economic Development
			: Evidence from the UNESCO World Heritage List

Tourism Specialization and Economic Development : Evidence from the UNESCO World Heritage List »

Volume/Issue: 2009/176

Series: IMF Working Papers

Author(s): John Piotrowski , Rabah Arezki , and Reda Cherif

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2009

DOI: http://dx.doi.org/10.5089/9781451873238.001

ISBN: 9781451873238

Keywords: economic development and growth and instrumental variables, unesco world heritage, heritage, world heritage,

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumenta...

Information Rigidities: Comparing Average and Individual Forecasts for a Large International Panel

Information Rigidities: Comparing Average and Individual Forecasts for a Large International Panel »

Source: Information Rigidities : Comparing Average and Individual Forecasts for a Large International Panel

Volume/Issue: 2014/31

Series: IMF Working Papers

Author(s): Jonas Dovern , Ulrich Fritsche , Prakash Loungani , and Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2014

ISBN: 9781484305201

Keywords: Rational inattention, aggregation bias, growth forecasts, information rigidity, forecast behaviour, emerging economies, econometrics, parameters, Forecasting and Simulation,

We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989-2010. We show that the degree of information rigidity in average forecasts is s...

Measuring Oil-Price Shocks Using Market-Based Information1

Measuring Oil-Price Shocks Using Market-Based Information1 »

Source: Measuring Oil-Price Shocks Using Market-Based Information

Volume/Issue: 2012/19

Series: IMF Working Papers

Author(s): Tao Wu , and Michele Cavallo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463931810

Keywords: Oil Shocks, Market-Based Information, VAR Identification, oil market, opec, equation, oil demand, Multiple or Simultaneous Equation Models: Time-Series Models, Methodology for Collecting, Estimating

We study the effects of oil-price shocks on the U.S. economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then...

The Persistence of Corruption and Regulatory Compliance Failures

The Persistence of Corruption and Regulatory Compliance Failures »

Source: The Persistence of Corruption and Regulatory Compliance Failures : Theory and Evidence

Volume/Issue: 2003/172

Series: IMF Working Papers

Author(s): Per Fredriksson , Muthukumara Mani , and Richard Damania

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

ISBN: 9781451858594

Keywords: rule of law, lobbying, political instability, bureaucracy, judicial efficiency, political stability, political economy, common law, judicial system, Models of Political Processes: Rent-seeking

This paper examines the reasons why corruption and policy distortions tend to exhibit a high degree of persistence in certain regimes. We identify circumstances under which a firm seeks to evade regulations by (1)...