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Cooperation, Emergence of the Economic Agency Role of Government, and Governance
Author:
Mr. Omotunde E. G. Johnson
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Series:
IMF Working Papers
Volume/Issue:
Volume 1997: Issue 150
Language:
English
Publication Date:
01 Nov 1997
DOI:
https://doi.org/10.5089/9781451923247.001
ISBN:
9781451923247
ISSN:
1018-5941
Pages:
45
Keywords:
WP; government corruption; economic activity; government-civil service-business coalition
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper focuses on the emergence of the economic agency role of government and its relationship with cooperation and economic management. It distinguishes emergence under war, domination or capitulation, perfect cooperation, and strategic bargaining. Good governance is a consequence of constraints designed by principals with the incentive and ability to do so. The incentives are related inversely to the expected relative frequency of controlling government and directly to the expected relative share of costs of poor agency. The ability is directly related to bargaining power in determining the agency role. There are implications for the evolution of cooperation in the society and for macroeconomic performance.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund