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Paraguay
Corruption, Reform, and the Financial System
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Abstract

Following some historical background, this paper describes how corruption is manifested in Paraguay. The paper distinguishes between factors that explain the growth performance of Paraguay since 1960 (where corruption does not directly enter as a significant factor) and factors that explain the relative level of income of Paraguay in the past 40 or 50 years compared with other countries. It then illustrates how Paraguay's weak institutions may have led to long-term growth below its potential. Finally, the authors briefly consider how Paraguay could improve its institutions. To the extent that prudent policies and the willingness to consider the adoption of international best practices will exert pressure for change in Paraguay, a gradual improvement of institutional quality will ensue, which is necessary for sustained long-run growth.

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Author:
Mr. Jeffrey R. Franks
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,
Miss Randa Sab
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Ms. Valerie A Mercer-Blackman
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Roberto Benelli https://isni.org/isni/0000000404811396 International Monetary Fund

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Series:
IMF Special Issues
Publisher:
International Monetary Fund
Language:
English
Publication Date:
07 Sep 2005
DOI:
https://doi.org/10.5089/9781589064201.058
ISBN:
9781589064201
Pages:
129
Keywords:
ISI; SI; exchange rate; real exchange rate; terms of trade; Chaco War pension; survivor pension; wage inflation; pension recipient; Pensions; Real exchange rates; Pension spending; Wages; Retirement; Sub-Saharan Africa; South America; Africa; East Asia; Caribbean; retirement age; government effectiveness; Real effective exchange rates
Legal-disclaimer:
This publication should not be reported as representing the views or policies of the International Monetary Fund. The views expressed in this work are those of the authors and do not necessarily represent those of the IMF, its Executive Board, or its management.
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