Browse

You are looking at 1 - 100 of 128 items :

  • Corporate Governance x
Clear All
Reforming the Corporate Governance of Italian Banks

Reforming the Corporate Governance of Italian Banks »

Volume/Issue: 2014/181

Series: IMF Working Papers

Author(s): Nadège Jassaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2014

DOI: http://dx.doi.org/10.5089/9781484387511.001

ISBN: 9781484387511

Keywords: foundations, cooperatives, MPS, ownership structure, profitability, distressed assets, Banco Popolare, banking, shareholder, bank governance

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the...

Reforming the Corporate Governance of Italian Banks

Reforming the Corporate Governance of Italian Banks »

Source: Reforming the Corporate Governance of Italian Banks

Volume/Issue: 2014/181

Series: IMF Working Papers

Author(s): Nadège Jassaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 September 2014

ISBN: 9781484387511

Keywords: foundations, cooperatives, MPS, ownership structure, profitability, distressed assets, Banco Popolare, banking, shareholder, bank governance

Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the...

Unstash the Cash! Corporate Governance Reform in Japan

Unstash the Cash! Corporate Governance Reform in Japan »

Volume/Issue: 2014/140

Series: IMF Working Papers

Author(s): Chie Aoyagi , and Giovanni Ganelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2014

DOI: http://dx.doi.org/10.5089/9781498378253.001

ISBN: 9781498378253

Keywords: corporate cash holdings, governance, corporate governance reform, governance reform, Firm Behavior: Empirical Analysis, General,

Japan's high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan's weak corporate governanc...

Unstash the Cash! Corporate Governance Reform in Japan

Unstash the Cash! Corporate Governance Reform in Japan »

Source: Unstash the Cash! Corporate Governance Reform in Japan

Volume/Issue: 2014/140

Series: IMF Working Papers

Author(s): Chie Aoyagi , and Giovanni Ganelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2014

ISBN: 9781498378253

Keywords: corporate cash holdings, governance, corporate governance reform, governance reform, Firm Behavior: Empirical Analysis, General,

Japan's high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan's weak corporate governanc...

International Corporate Governance Spillovers
			: Evidence from Cross-Border Mergers and Acquisitions

International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions »

Volume/Issue: 2013/234

Series: IMF Working Papers

Author(s): Rui Albuquerque , Luis Brandao-Marques , Miguel Ferreira , and Pedro Matos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2013

DOI: http://dx.doi.org/10.5089/9781475518382.001

ISBN: 9781475518382

Keywords: Corporate governance, Foreign direct investment, Spillovers, Cross border mergers, acquisitions, governance, governance index, improving governance, outside shareholders, Government Policy and Regulation

We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate gov...

International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions

International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions »

Source: International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions

Volume/Issue: 2013/234

Series: IMF Working Papers

Author(s): Rui Albuquerque , Luis Brandao-Marques , Miguel Ferreira , and Pedro Matos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2013

ISBN: 9781475518382

Keywords: Corporate governance, Foreign direct investment, Spillovers, Cross border mergers, acquisitions, governance, governance index, improving governance, outside shareholders, Government Policy and Regulation

We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate gov...

Annex 1 Revisiting Past IEO Evaluations: Evaluation of Prolonged Use of IMF Resources

Annex 1 Revisiting Past IEO Evaluations: Evaluation of Prolonged Use of IMF Resources »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

Summary This note revisits the 2002 IEO Evaluation of Prolonged Use of IMF Resources and examines the extent to which its findings and conclusions remain relevant, and the extent to...

Annex 2 Revisiting Past IEO Evaluations: Fiscal Adjustment in IMF-Supported Programs

Annex 2 Revisiting Past IEO Evaluations: Fiscal Adjustment in IMF-Supported Programs »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

Summary This review assesses the continued relevance of the findings, conclusions, and recommendations of the 2003 IEO evaluation of Fiscal Adjustment in IMF-Supported Programs. Fisc...

Annexes

Annexes »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

...

Appendix 1

Appendix 1 »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

Administrative Budget: Independent Evaluation Office (In U.S. dollars)...

Appendix 2 Outreach Activities

Appendix 2 Outreach Activities »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

October 2012, Tokyo, Japan Consultations about IEO’s future work program with country delegations during the Annual Meetings. November 2012, London, Unit...

Chapter 3. External Evaluation of the IEO

Chapter 3. External Evaluation of the IEO »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

When the IEO was established in 2001, periodic external evaluations of its work were envisaged. The first external evaluation, completed in 2006, assessed whether the IEO had fulfilled its mandate in its fir...

Chapter 4. Follow-Up on IEO Evaluations

Chapter 4. Follow-Up on IEO Evaluations »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

An approach to follow-up on IEO evaluations was established in the IMF following the first external evaluation of the IEO in 2006. Under this framework, after the Executive Board discusses an IEO evaluation...

Chapter 2. IEO Outputs in FY2013

Chapter 2. IEO Outputs in FY2013 »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

During FY2013, the IEO issued reports on its evaluations of International Reserves: IMF Concerns and Country Perspectives, in December 2012, and The Role of the IMF as Trusted Advisor, in February 2013. In a...

Chapter 5. Looking Ahead: Ongoing Evaluations and the IEO Work Program

Chapter 5. Looking Ahead: Ongoing Evaluations and the IEO Work Program »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

The IEO is currently working on five evaluations and is also undertaking two reviews of past evaluations. The status of each is summarized below. The IEO continues to work on an “Assessment of IMF S...

Chapter 1. Overview of Developments in FY2013

Chapter 1. Overview of Developments in FY2013 »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

During the financial year 2013, the IEO produced two evaluations, International Reserves: IMF Concerns and Country Perspectives and The Role of the IMF as Trusted Advisor, both of which were discussed by the...

IEO Annual Report 2013

IEO Annual Report 2013 »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

DOI: http://dx.doi.org/10.5089/9781484346563.017

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

The Independent Evaluation Office (IEO) evaluation on International Reserves: IMF Concerns and Country Perspectives was discussed by the Board in December 2012. This evaluation examined the IMF's analysis of the ef...

Back Matter

Back Matter »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

The Independent Evaluation Office (IEO) evaluation on International Reserves: IMF Concerns and Country Perspectives was discussed by the Board in December 2012. This evaluation examined the IMF's analysis of the ef...

Front Matter

Front Matter »

Source: IEO Annual Report 2013

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 August 2013

ISBN: 9781484346563

Keywords: fiscal adjustment, monetary fund, fiscal reform, fiscal policy, fiscal stance

The Independent Evaluation Office (IEO) evaluation on International Reserves: IMF Concerns and Country Perspectives was discussed by the Board in December 2012. This evaluation examined the IMF's analysis of the ef...

Effects of Culture on Firm Risk-Taking

Effects of Culture on Firm Risk-Taking »

Source: Effects of Culture on Firm Risk-Taking : A Cross-Country and Cross-Industry Analysis

Volume/Issue: 2012/210

Series: IMF Working Papers

Author(s): Roxana Mihet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505603

Keywords: National culture, corporate risk-taking, industry opacity, risk-taking, shareholders, shareholder, shareholders ? rights, Firm Objectives, Organization, and Behavior: General

This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic fir...

Effects of Culture on Firm Risk-Taking
			: A Cross-Country and Cross-Industry Analysis

Effects of Culture on Firm Risk-Taking : A Cross-Country and Cross-Industry Analysis »

Volume/Issue: 2012/210

Series: IMF Working Papers

Author(s): Roxana Mihet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

DOI: http://dx.doi.org/10.5089/9781475505603.001

ISBN: 9781475505603

Keywords: National culture, corporate risk-taking, industry opacity, risk-taking, shareholders, shareholder, shareholders ? rights, Firm Objectives, Organization, and Behavior: General

This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic fir...

Spain
			: The Reform of Spanish Savings Banks Technical Notes

Spain : The Reform of Spanish Savings Banks Technical Notes »

Volume/Issue: 2012/141

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2012

DOI: http://dx.doi.org/10.5089/9781475504286.002

ISBN: 9781475504286

Keywords: shareholders, commercial banks, corporate governance, stakeholders

This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial d...

Spain

Spain »

Source: Spain : The Reform of Spanish Savings Banks Technical Notes

Volume/Issue: 2012/141

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2012

ISBN: 9781475504286

Keywords: shareholders, commercial banks, corporate governance, stakeholders

This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial d...

CHAPTER 5 Adequacy of Indonesia’s Foreign Exchange Reserves

CHAPTER 5 Adequacy of Indonesia’s Foreign Exchange Reserves »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Indonesia has seen a sharp increase in its international reserves holdings in recent years. Reserves have increased from less than $10 billion (6 percent of GDP) in the early 1990s to $120 billion (14.8 perc...

CHAPTER 7 Assessing Corporate Sector Vulnerabilities

CHAPTER 7 Assessing Corporate Sector Vulnerabilities »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

This chapter discusses how the nonfinancial corporate sector in Indonesia was affected by the 2008–09 global financial crisis and recovery. It then uses contingent claims analysis to assess how vulnerable th...

CHAPTER 6 Corporate Governance and Leverage Trends

CHAPTER 6 Corporate Governance and Leverage Trends »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Serious corporate governance problems may lead to overborrowing by firms in a weak institutional environment. However, improvements in governance can help increase leverage when access to credit has been con...

CHAPTER 8 Enhancing Financial Stability

CHAPTER 8 Enhancing Financial Stability »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Indonesia has made great strides in the last decade in improving macroeconomic and financial stability. As a result, the country’s financial system withstood the contagion from the global financial crisis th...

CHAPTER 1 Explaining Higher Inflation in Indonesia: A Regional Comparison

CHAPTER 1 Explaining Higher Inflation in Indonesia: A Regional Comparison »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Over the 20 years beginning in 1990, inflation in Indonesia has been consistently higher than elsewhere in the Asia region. 1 Indeed, inflation has often exceeded the 7–11 percen...

CHAPTER 2 Inflation Uncertainty and the Term Premium

CHAPTER 2 Inflation Uncertainty and the Term Premium »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Based on the term structure model for determining nominal bond yields, this chapter identifies the impact on the cost of borrowing of Indonesia’s relatively higher inflation level and volatility relative to...

CHAPTER 3 Maintaining Fiscal Sustainability Under Uncertainty

CHAPTER 3 Maintaining Fiscal Sustainability Under Uncertainty »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Indonesia’s public debt outlook is stronger than in many advanced and emerging economies. Nevertheless, Indonesia, like other emerging economies with relatively low debt levels, is still exposed to shocks. T...

CHAPTER 4 Volatility in External Demand: Indonesia’s Commodity Boom and Overall Competitiveness

CHAPTER 4 Volatility in External Demand: Indonesia’s Commodity Boom and Overall Competitiveness »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Indonesia experienced a remarkable export boom in the years preceding the 2008–09 global economic and financial crisis, driven mainly by surging commodity exports. While helping to sustain high economic grow...

Indonesia
			: Sustaining Growth During Global Volatility

Indonesia : Sustaining Growth During Global Volatility »

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

DOI: http://dx.doi.org/10.5089/9781616352028.071

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Over the past decade, Indonesia has developed into an important regional and global economy, as well as an active participant in the G20. The chapters in this book document the substantial improvements in the quali...

Front Matter

Front Matter »

Source: Indonesia : Sustaining Growth During Global Volatility

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2012

ISBN: 9781616352028

Keywords: inflation, monetary policy, corporate governance, oil and gas, corporate sector

Over the past decade, Indonesia has developed into an important regional and global economy, as well as an active participant in the G20. The chapters in this book document the substantial improvements in the quali...

CHAPTER 2 Evaluation Framework

CHAPTER 2 Evaluation Framework »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

A. Scope of Evaluation 7. The evaluation assesses the IMF’s performance during the period up to the crisis, focusing primarily on 2004 through 2007. 5...

CHAPTER 3 IMF Messages in the Run-Up to the Crisis

CHAPTER 3 IMF Messages in the Run-Up to the Crisis »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

A. Overview of Main Findings 11. During the period 2004 through the start of the crisis in mid-2007, the IMF did not warn the countries at the center of the crisis, nor the membershi...

CHAPTER 1 Introduction

CHAPTER 1 Introduction »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

1. This evaluation assesses the performance of IMF surveillance in the run-up to the global financial and economic crisis. It examines whether the IMF identified the mounting risks...

CHAPTER 5 Toward More Effective IMF Surveillance

CHAPTER 5 Toward More Effective IMF Surveillance »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

66. In considering recommendations, the aim is not to predict a crisis, as crises and their triggers are inherently unpredictable. It is rather to strengthen the IMF’s working envir...

CHAPTER 4 Why Did the IMF Fail to Give Clear Warning?

CHAPTER 4 Why Did the IMF Fail to Give Clear Warning? »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

40. Various factors played a role in the IMF’s failure to identify risks and give clear warnings. Many of these factors represent long-standing problems that had been highlighted fo...

IMF Performance in the Run-Up to the Financial and Economic Crisis
			: IMF Surveillance in 2004-07

IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07 »

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

DOI: http://dx.doi.org/10.5089/9781616350789.017

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

The report assesses IMF surveillance in the period leading up to the global financial and economic crisis and offers recommendations on how to strengthen the IMF's ability to discern risks and vulnerabilities in th...

Back Matter

Back Matter »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

The report assesses IMF surveillance in the period leading up to the global financial and economic crisis and offers recommendations on how to strengthen the IMF's ability to discern risks and vulnerabilities in th...

Front Matter

Front Matter »

Source: IMF Performance in the Run-Up to the Financial and Economic Crisis : IMF Surveillance in 2004-07

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 August 2011

ISBN: 9781616350789

Keywords: financial sector, financial stability, financial institutions, financial markets, financial system

The report assesses IMF surveillance in the period leading up to the global financial and economic crisis and offers recommendations on how to strengthen the IMF's ability to discern risks and vulnerabilities in th...

Banks and Labor as Stakeholders

Banks and Labor as Stakeholders »

Source: Banks and Labor as Stakeholders : Impact on Economic Performance

Volume/Issue: 2008/229

Series: IMF Working Papers

Author(s): Kenichi Ueda , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

ISBN: 9781451870879

Keywords: stakeholders, shareholders&;amp;#x2019; maximization, financial liberalization, employment protection, employment, shareholders,

Traditionally, the impacts of the rights of financial institutions and workers on corporate performance have been analyzed independently. Yet, theory clearly indicates that the combination of relative powers of dif...

Banks and Labor as Stakeholders
			: Impact on Economic Performance

Banks and Labor as Stakeholders : Impact on Economic Performance »

Volume/Issue: 2008/229

Series: IMF Working Papers

Author(s): Kenichi Ueda , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2008

DOI: http://dx.doi.org/10.5089/9781451870879.001

ISBN: 9781451870879

Keywords: stakeholders, shareholders&;amp;#x2019; maximization, financial liberalization, employment protection, employment, shareholders,

Traditionally, the impacts of the rights of financial institutions and workers on corporate performance have been analyzed independently. Yet, theory clearly indicates that the combination of relative powers of dif...

Germany's Corporate Governance Reforms

Germany's Corporate Governance Reforms »

Source: Germany's Corporate Governance Reforms : Has the System Become Flexible Enough?

Volume/Issue: 2008/179

Series: IMF Working Papers

Author(s): Jürgen Odenius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870374

Keywords: internal control, self-dealing, external control, shareholders, shareholder, minority shareholders, corporate governance system,

This article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important ele...

Germany's Corporate Governance Reforms
			: Has the System Become Flexible Enough?

Germany's Corporate Governance Reforms : Has the System Become Flexible Enough? »

Volume/Issue: 2008/179

Series: IMF Working Papers

Author(s): Jürgen Odenius

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

DOI: http://dx.doi.org/10.5089/9781451870374.001

ISBN: 9781451870374

Keywords: internal control, self-dealing, external control, shareholders, shareholder, minority shareholders, corporate governance system,

This article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important ele...

Corporate Governance Reforms in the EU

Corporate Governance Reforms in the EU »

Source: Corporate Governance Reforms in the EU : Do They Matter and How?

Volume/Issue: 2008/91

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Petya Koeva Brooks

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869521

Keywords: reforms, voting premiums, integration, voting, corporate governance reforms, shareholders, shareholder,

This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The...

Corporate Governance Reforms in the EU
			: Do They Matter and How?

Corporate Governance Reforms in the EU : Do They Matter and How? »

Volume/Issue: 2008/91

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Petya Koeva Brooks

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

DOI: http://dx.doi.org/10.5089/9781451869521.001

ISBN: 9781451869521

Keywords: reforms, voting premiums, integration, voting, corporate governance reforms, shareholders, shareholder,

This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The...

Complex Ownership Structures and Corporate Valuations

Complex Ownership Structures and Corporate Valuations »

Source: Complex Ownership Structures and Corporate Valuations

Volume/Issue: 2007/140

Series: IMF Working Papers

Author(s): Luc Laeven , and Ross Levine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

ISBN: 9781451867046

Keywords: Large shareholders, Blockholders, shareholder, shareholders, corporate valuations, dummy variable,

The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders...

Complex Ownership Structures and Corporate Valuations

Complex Ownership Structures and Corporate Valuations »

Volume/Issue: 2007/140

Series: IMF Working Papers

Author(s): Luc Laeven , and Ross Levine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867046.001

ISBN: 9781451867046

Keywords: Large shareholders, Blockholders, shareholder, shareholders, corporate valuations, dummy variable,

The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders...

Portugal
			: Financial Sector Assessment Program:  Technical Note:  Investor Protection, Disclosure, and Financial Literacy

Portugal : Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy »

Volume/Issue: 2007/35

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2007

DOI: http://dx.doi.org/10.5089/9781451832273.002

ISBN: 9781451832273

Keywords: corporate governance, shareholders, corporate governance practices, disclosure of information, listed companies

This technical note on Investor Protection, Disclosure, and Financial Literacy for Portugal explains investor protection and corporate governance. Comissão do Mercado de Valores Mobiliários (CMVM) is the regulator...

Portugal

Portugal »

Source: Portugal : Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy

Volume/Issue: 2007/35

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2007

ISBN: 9781451832273

Keywords: corporate governance, shareholders, corporate governance practices, disclosure of information, listed companies

This technical note on Investor Protection, Disclosure, and Financial Literacy for Portugal explains investor protection and corporate governance. Comissão do Mercado de Valores Mobiliários (CMVM) is the regulator...

Australia

Australia »

Source: Australia : Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy

Volume/Issue: 2006/437

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2006

ISBN: 9781451802160

Keywords: corporate governance, continuous disclosure, disclosure requirements, corporate governance principles, shareholders

This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic....

Australia
			: Financial Sector Assessment Program:  Technical Note:  Investor Protection, Disclosure, and Financial Literacy

Australia : Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy »

Volume/Issue: 2006/437

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2006

DOI: http://dx.doi.org/10.5089/9781451802160.002

ISBN: 9781451802160

Keywords: corporate governance, continuous disclosure, disclosure requirements, corporate governance principles, shareholders

This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic....

Corporate Governance Quality

Corporate Governance Quality »

Source: Corporate Governance Quality : Trends and Real Effects

Volume/Issue: 2006/293

Series: IMF Working Papers

Author(s): Kenichi Ueda , Gianni De Nicolo , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865530

Keywords: disclosure, shareholders, corporate governance reform, shareholder, shareholders ? rights, stakeholders, Corporate Finance and Governance: General,

This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corpora...

Corporate Governance Quality
			: Trends and Real Effects

Corporate Governance Quality : Trends and Real Effects »

Volume/Issue: 2006/293

Series: IMF Working Papers

Author(s): Kenichi Ueda , Gianni De Nicolo , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865530.001

ISBN: 9781451865530

Keywords: disclosure, shareholders, corporate governance reform, shareholder, shareholders ? rights, stakeholders, Corporate Finance and Governance: General,

This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corpora...

The Acting Chair’s Summing Up Evaluation Report of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility by the Independent Evaluation Office

The Acting Chair’s Summing Up Evaluation Report of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility by the Independent Evaluation Office »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

General Remarks Executive Directors welcomed the timely report of the Independent Evaluation Office (IEO). The report has a number of constructive recommendations, which will require...

Annex 4 Assessment of the Adaptation of the IMF’s Internal Policy Process

Annex 4 Assessment of the Adaptation of the IMF’s Internal Policy Process »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Table A4.1. An Assessment of the Adaptation of the IMF’s Internal Policy Process Between the ESAF and the PRGF Based on Briefing Pa...

Annex 9 Changes in Domestic Policy Processes and Institutions: Evidence from Case Studies

Annex 9 Changes in Domestic Policy Processes and Institutions: Evidence from Case Studies »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Table A9.1. What Happened to Domestic Policy Formation Under the PRSP Approach? Some Examples from the Case Studies...

Annex 8 Composition of Targeted Changes in Expenditures and External Financing in IMF-Supported Programs

Annex 8 Composition of Targeted Changes in Expenditures and External Financing in IMF-Supported Programs »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The Composition of Programmed Fiscal Adjustment As discussed in Chapter 4, PRGF-supported programs target, on average, greater increases in revenues and smaller expenditure cuts than...

Annex 7 Determinants of Targeted and Actual Fiscal Adjustment

Annex 7 Determinants of Targeted and Actual Fiscal Adjustment »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

This annex presents details of regression analyses that underlay some of the results discussed in Chapter 4. The regressions were based on data from 88 new arrangements approved by the IMF under either the E...

Annex 5 Modalities of Participatory Processes: How Broad-Based Has Participation Been?

Annex 5 Modalities of Participatory Processes: How Broad-Based Has Participation Been? »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Many of the countries concerned had no tradition of participatory policy formulation (e.g., Albania, Cambodia, and Tajikistan). Others did have a partici-patory tradition or experience, but a separate partic...

Annex 3 PRSP Sourcebook: Does It Provide Adequate Space for Policy Flexibility, and Is It Based on Strong Empirical Evidence?

Annex 3 PRSP Sourcebook: Does It Provide Adequate Space for Policy Flexibility, and Is It Based on Strong Empirical Evidence? »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Policy Prescription in the PRSP Sourcebook 1...

Annex 6 Qualitative Appraisal of JointStaff Assessments

Annex 6 Qualitative Appraisal of JointStaff Assessments »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The IEO undertook a desk review of the 28 JSAs sents the criteria used in assigning quality ratings to of full PRSPs issued through May 2003, involving a selected aspects of JSAs, as well as the average and...

Annex 2 Results from Survey of IMF Staff1

Annex 2 Results from Survey of IMF Staff1 »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Methodology The survey was undertaken during December 2003 and January 2004. It targeted mission chiefs and resi-dent representatives for PRGF-eligible countries. A total of 75 IMF s...

Annex 1 Survey of PRSP Stakeholders

Annex 1 Survey of PRSP Stakeholders »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Global Results As part of the OED and IEO evaluations of the PRSP process and the PRGF, a survey of PRSP stakeholders was administered in each of the ten countries where a case study...

Chapter 2 Implementation of the PRS Approach in Areas Relevant to the IMF Mandate

Chapter 2 Implementation of the PRS Approach in Areas Relevant to the IMF Mandate »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Key Messages The design of the PRSP approach incorporates critical but largely unrecognized internal tensions: the PRS is to be country owned, but BWI policy assessme...

Chapter 1 Introduction: Origin and Objectives of the PRSP and the PRGF and Scope of the Evaluation

Chapter 1 Introduction: Origin and Objectives of the PRSP and the PRGF and Scope of the Evaluation »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The IMF and the World Bank introduced the Poverty Reduction Strategy Paper (PRSP) approach in 1999 to strengthen their approach to providing assistance to low-income countries, including both new financial a...

Chapter 6 Is the New Approach Making a Difference?

Chapter 6 Is the New Approach Making a Difference? »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Key Messages The most significant improvements in domestic policy processes include a better diagnosis of the nature of poverty and greater inclusion of various group...

Chapter 3 Joint Staff Assessments

Chapter 3 Joint Staff Assessments »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Key Messages On balance, Joint Staff Assessments (JSAs) do not perform adequately the many tasks expected of them. JSAs generally cover mo...

Chapter 4 PRGF-Supported Program Design

Chapter 4 PRGF-Supported Program Design »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Key Messages In most PRGFs, key strategic priorities and policy choices in both macroeconomic and structural areas in program design are still not guided by the PRSP....

Chapter 5 The IMF’s Way of Doing Business

Chapter 5 The IMF’s Way of Doing Business »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Key Messages The 1999 policy papers launching the PRSP/PRGF called for far-reaching changes in the nature of the IMF’s involvement in low-income countries. These expe...

Evaluation of the IMF’s Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Evaluation of the IMF’s Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

Bibliography ActionAid, 2002, “Inclusive Circles Lost i...

Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility »

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

DOI: http://dx.doi.org/10.5089/9781589063679.017

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

In 1999, the IMF and the World Bank adopted a new frame work for supporting economic reform in low-income member countries to achieve the objectives of poverty reduction and economic growth. The frame work consists...

Front Matter

Front Matter »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

In 1999, the IMF and the World Bank adopted a new frame work for supporting economic reform in low-income member countries to achieve the objectives of poverty reduction and economic growth. The frame work consists...

Independent Evaluation Office Comments on Management/Staff Responses to the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Independent Evaluation Office Comments on Management/Staff Responses to the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The comprehensive nature of the management/staff responses is welcome. They provide a basis for a substantive debate on the major issues raised in the evaluation. The staff has noted a number of areas where...

Staff Response to the Independent Evaluation Office Report on the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Staff Response to the Independent Evaluation Office Report on the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

I. Introduction 1. The Independent Evaluation Office (IEO) report offers a trenchant analysis of the Poverty Reduction Strategy (PRS) approach. The report con-cludes that the PRS app...

Statement by the Managing Director on the Independent Evaluation Office Report on the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Statement by the Managing Director on the Independent Evaluation Office Report on the Evaluation of Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The Independent Evaluation Office is to be com-mended for its wide-ranging and informative report on the Poverty Reduction Strategy Paper (PRSP) approach and the Poverty Reduction and Growth Facil-ity (PRGF)...

Statement by the Managing DirectorIMF Staff ResponseIEO Comments on ManagementStaff ResponsesSumming Up by the Acting Chair

Statement by the Managing DirectorIMF Staff ResponseIEO Comments on ManagementStaff ResponsesSumming Up by the Acting Chair »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

...

Summary of Major Findings, Lessons, and Recommendations

Summary of Major Findings, Lessons, and Recommendations »

Source: Evaluation of the IMF's Role in Poverty Reduction Strategy Papers and the Poverty Reduction and Growth Facility

Series: Independent Evaluation Office Reports

Author(s): David Goldsbrough , Isabelle Mateos y Lago , Martin Kaufman , Daouda Sembene , Tsidi Tsikata , Steve Mugerwa , Alex Segura-Ubiergo , and Jeff Chelsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

ISBN: 9781589063679

Keywords: expenditure, conditionality, poverty reduction strategy, expenditures, macroeconomic framework

The Poverty Reduction Strategy (PRS) approach consists of a series of process innovations designed to encourage broader-based participation in the development of a country-owned, lo...

Contributors

Contributors »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Contributors include only authors of papers published in this volume. Their affiliations are as of the time of the conference, December 2002. Isaac Aluko-Olokun...

11 Developments and Actions in NEPAD’s Implementation

11 Developments and Actions in NEPAD’s Implementation »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

The New Partnership for Africa’s Development (NEPAD) represents Africa’s response to UN Secretary-General Kofi Annan’s call at the Millennium Summit for a higher priority to achieve “the twin goals of freedo...

1 Introduction: NEPAD—A New Vision

1 Introduction: NEPAD—A New Vision »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

What will determine the success of the New Partnership for Africa’s Development (NEPAD)? Which policies and measures envisaged under NEPAD need to receive highest priority? Who should be responsible for whic...

3 Keynote Address

3 Keynote Address »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

This high-level seminar on the New Partnership for Africa’s Development (NEPAD) deals with an especially topical issue at a time when the courageous people of Africa are making enormous sacrifices to free th...

New Partnership for Africa's Development
			: Macroeconomics, Institutions, and Poverty

New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty »

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

DOI: http://dx.doi.org/10.5089/9781589062627.072

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Adopted in 2001, the New Partnership for Africa's Development (NEPAD) represents a new vision to place African countries on a path toward poverty reduction, sustainable growth, and full integration in the world eco...

Front Matter

Front Matter »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Adopted in 2001, the New Partnership for Africa's Development (NEPAD) represents a new vision to place African countries on a path toward poverty reduction, sustainable growth, and full integration in the world eco...

2 Opening Remarks

2 Opening Remarks »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Welcoming Address, Saleh M. Nsouli On behalf of the International Monetary Fund, it is a great pleasure to welcome you to this high-level seminar on the New Partnership for Africa’s...

7 Policy Reform and Foreign Direct Investment in Africa: Absolute Progress but Relative Decline

7 Policy Reform and Foreign Direct Investment in Africa: Absolute Progress but Relative Decline »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Foreign direct investment (FDI) in Sub-Saharan Africa increased substantially in the 1990s. However, the rate of increase was meager compared with that in other regions. As shown in Table 7.1, for example, b...

5 Poverty and Its Eradication

5 Poverty and Its Eradication »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Eradication of absolute poverty was the overarching objective of policymakers in most of the developing countries that achieved political independence after the Second World War. They were determined to corr...

6 Promoting Trade: Regional Integration and the Global Economy

6 Promoting Trade: Regional Integration and the Global Economy »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

One of the important characteristics of evolving globalization is the marked increase in world output and trade. Rapid global integration has led to significant economic expansion, notably in industrialized...

12 Summing Up: Taking Stock and Future Steps

12 Summing Up: Taking Stock and Future Steps »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

This has been a fine seminar on the New Partnership for Africa’s Development (NEPAD). Since it was adopted in 2001, NEPAD has attracted worldwide interest and enthusiasm because of its new vision for Africa...

8 The NEPAD Economic and Corporate Governance Initiative: Building Institutions for Sustainable Development

8 The NEPAD Economic and Corporate Governance Initiative: Building Institutions for Sustainable Development »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

At the summit of the Organization for African Unity held in Lusaka, Zambia, in July 2001, the African heads of state and of government adopted the New Africa Initiative, a merger of the previous Millennium P...

4 The New Partnership for Africa’s Development: Opportunities and Challenges

4 The New Partnership for Africa’s Development: Opportunities and Challenges »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

The New Partnership for Africa’s Development (NEPAD), adopted in 2001, is a pledge by African leaders to eliminate poverty and to achieve a sustainable path of growth and development on the continent. Althou...

9 The Role of Regional Institutions in Achieving NEPAD’s Goals

9 The Role of Regional Institutions in Achieving NEPAD’s Goals »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

Let me start by touching upon a number of salient features of NEPAD, which the African authorities have identified as crucial for jointly addressing the growing underdevelopment of Africa. Next, I want to sh...

10 What the IMF Can Do to Support NEPAD

10 What the IMF Can Do to Support NEPAD »

Source: New Partnership for Africa's Development : Macroeconomics, Institutions, and Poverty

Series: Seminar Volumes

Author(s): Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2004

ISBN: 9781589062627

Keywords: regional integration, fdi, corporate governance, direct investment, foreign direct investment

We have already found one concrete way for the IMF to support NEPAD: bring together the people who will make it work—the politicians and officials who can encourage, design, and implement open, poverty-reduc...

Structural Vulnerabilities and Currency Crises

Structural Vulnerabilities and Currency Crises »

Volume/Issue: 2002/9

Series: IMF Working Papers

Author(s): Swart Ghosh , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2002

DOI: http://dx.doi.org/10.5089/9781451842609.001

ISBN: 9781451842609

Keywords: Corporate governance, Currency crises, Currencies, Financial crisis, Foreign exchange, structural indicators, binary recursive trees, shareholders, current account, shareholder

This paper examines the role of structural factors-governance and rule of law, corporate sector governance (creditor rights and shareholder rights), corporate financing structure-as well as macroeconomic variables...

Structural Vulnerabilities and Currency Crises

Structural Vulnerabilities and Currency Crises »

Source: Structural Vulnerabilities and Currency Crises

Volume/Issue: 2002/9

Series: IMF Working Papers

Author(s): Swart Ghosh , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2002

ISBN: 9781451842609

Keywords: Corporate governance, Currency crises, Currencies, Financial crisis, Foreign exchange, structural indicators, binary recursive trees, shareholders, current account, shareholder

This paper examines the role of structural factors-governance and rule of law, corporate sector governance (creditor rights and shareholder rights), corporate financing structure-as well as macroeconomic variables...

Corporate Restructuring in Japan

Corporate Restructuring in Japan »

Source: Corporate Restructuring in Japan : An Event-Study Analysis

Volume/Issue: 2001/202

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874402

Keywords: corporate restructuring, event-study analysis, stock price, shareholders, stock prices,

The implementation of the Commercial Rehabilitation Law (CRL) on April 1, 2000 was considered a key event in setting up the official infrastructure supporting corporate restructuring in Japan. This study evaluates...

Corporate Restructuring in Japan
			: An Event-Study Analysis

Corporate Restructuring in Japan : An Event-Study Analysis »

Volume/Issue: 2001/202

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451874402.001

ISBN: 9781451874402

Keywords: corporate restructuring, event-study analysis, stock price, shareholders, stock prices,

The implementation of the Commercial Rehabilitation Law (CRL) on April 1, 2000 was considered a key event in setting up the official infrastructure supporting corporate restructuring in Japan. This study evaluates...