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Dynamic Incentives and the Optimal Delegation of Political Power

Dynamic Incentives and the Optimal Delegation of Political Power »

Volume/Issue: 2007/91

Series: IMF Working Papers

Author(s): Eric Le Borgne , and Gauti Eggertsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

DOI: http://dx.doi.org/10.5089/9781451866551.001

ISBN: 9781451866551

Keywords: Delegation, Elections, Career Concerns, Learning-by-doing, Insulation, public opinion, inflation, central bank, monetary policy, political economy

This paper proposes a theory to explain why a politician delegates policy tasks to a technocrat in an independent institution. It formalizes the rationales for delegation highlighted by Hamilton (1788) and by Blind...

Resource Windfalls, Macroeconomic Stability and Growth
			: The Role of Political Institutions

Resource Windfalls, Macroeconomic Stability and Growth : The Role of Political Institutions »

Volume/Issue: 2011/142

Series: IMF Working Papers

Author(s): Kazim Kazimov , Kirk Hamilton , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455266432.001

ISBN: 9781455266432

Keywords: Commodity, macroeconomic stability, government spending, standard deviation, economic performance, Fiscal Policies and Behavior of Economic Agents: General, Multiple or Simultaneous Equation Models: Models with Panel Data,

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-...

Systemic Weaknesses of Budget Management in Anglophone Africa

Systemic Weaknesses of Budget Management in Anglophone Africa »

Volume/Issue: 2001/211

Series: IMF Working Papers

Author(s): Ian Lienert , and Feridoun Sarraf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451874846.001

ISBN: 9781451874846

Keywords: systemic, British, budget institutions, government expenditure, audit, expenditure, expenditures, budget management, Structure, Scope

This paper examines the merits of the British budget management system that was inherited in Anglophone African countries and which has changed substantially in the United Kingdom since the 1960s. It considers whet...

Can Budget Institutions Counteract Political Indiscipline?

Can Budget Institutions Counteract Political Indiscipline? »

Volume/Issue: 2006/123

Series: IMF Working Papers

Author(s): Ashoka Mody , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

DOI: http://dx.doi.org/10.5089/9781451863833.001

ISBN: 9781451863833

Keywords: budget institutions, electoral rules, government fragmentation, government ideology, ethnic fractionalization, voter turnover, fiscal institutions, fiscal performance, fiscal discipline, Analysis of Collective Decision-Making: General

The budget is an expression of political rather than economic priorities. We confirm this proposition for a group of new and potential members of the European Union, finding that politics dominates. The contemporar...

Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries
			: A Case for "Gulfstat"

Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries : A Case for "Gulfstat" »

Volume/Issue: 2006/38

Series: IMF Working Papers

Author(s): Abdulrahman Al-Mansouri , and Claudia Dziobek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2006

DOI: http://dx.doi.org/10.5089/9781451862980.001

ISBN: 9781451862980

Keywords: Data Quality, Gulf Cooperation Council, eurostat, surveys, statistical system, statistician, Structure, Scope, and Performance of Government, General Regional Economics (includes Regional Data)

The six member states of the Gulf Cooperation Council (GCC)-Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE)-have laid out a path to a common market by 2007 and monetary union by 2010, bas...

Who Controls the Budget
			: The Legislature or the Executive?

Who Controls the Budget : The Legislature or the Executive? »

Volume/Issue: 2005/115

Series: IMF Working Papers

Author(s): Ian Lienert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

DOI: http://dx.doi.org/10.5089/9781451861341.001

ISBN: 9781451861341

Keywords: Legislature, executive, presidential, parliament, budget, power, annual budget, budget law, fiscal rules, budget systems

Country-specific factors prevent a strong linear relationship between the legislature's budgetary powers and the extent of its separation from the executive. Electoral and voting systems, bicameralism, constitution...

Democracy and Foreign Education

Democracy and Foreign Education »

Volume/Issue: 2007/51

Series: IMF Working Papers

Author(s): Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

DOI: http://dx.doi.org/10.5089/9781451866155.001

ISBN: 9781451866155

Keywords: democracy, institutions, international students, host country, foreign investors, host countries, foreign national, Models of Political Processes: Rent-seeking, Elections, Legislatures

Do foreign-educated individuals play a role in promoting democracy in their home countries? Despite the large amount of private and public resources spent on foreign education, there is no systematic evidence that...

The Economic Crisis
			: Did Financial Supervision Matter?

The Economic Crisis : Did Financial Supervision Matter? »

Volume/Issue: 2011/261

Series: IMF Working Papers

Author(s): Marc Quintyn , Rosaria Vega Pansini , and Donato Masciandaro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2011

DOI: http://dx.doi.org/10.5089/9781463924560.001

ISBN: 9781463924560

Keywords: financial supervision, global crisis, supervisory architecture, supervisory governance, banking, bank involvement, financial sector, financial structure, deposit money, Financial Markets and the Macroeconomy

The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007?08 was a crude awakening: several of these improv...

Choosing a Budget Management System
			: The Case of Rwanda

Choosing a Budget Management System : The Case of Rwanda »

Volume/Issue: 2004/132

Series: IMF Working Papers

Author(s): Ian Lienert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

DOI: http://dx.doi.org/10.5089/9781451855418.001

ISBN: 9781451855418

Keywords: budget system, public management, Constitution, budget law, budget management, annual budget, budget process, budget execution, Structure, Scope

Rwanda is making important choices concerning budget processes. A program-oriented budget framework is now used. A new Constitution, adopted in May 2003, has made some important choices concerning the public manage...

Competition in the Financial Sector
			: Overview of Competition Policies

Competition in the Financial Sector : Overview of Competition Policies »

Volume/Issue: 2009/45

Series: IMF Working Papers

Author(s): Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871937.001

ISBN: 9781451871937

Keywords: competition policy, contestability, stability, degree of competition, General Financial Markets: General (includes Measurement and Data), General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation, Market Structure, Firm Strategy, And Market Performance

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance....