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Is Policy Ownership An Operational Concept?
Author:
Mr. James M. Boughton
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and
Mr. Alex Mourmouras
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Series:
IMF Working Papers
Volume/Issue:
Volume 2002: Issue 072
Language:
English
Publication Date:
01 Apr 2002
DOI:
https://doi.org/10.5089/9781451849356.001
ISBN:
9781451849356
ISSN:
1018-5941
Pages:
31
Keywords:
WP; recipient country government; government need; government decision-makers; policy reaction function; ownership; IMF; conditionality; common agency models; State capture; representative government; recipient government; central bank carrying out; government ownership; government failure; country's authorities; Multilateral development institutions; Structural reforms
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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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IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated compromises between policies initially favored by the Fund and by the country's authorities. In some cases the authorities might be satisfied enough with the outcome to take responsibility for it ("own" it) even though it was not their original preference. In other cases, they might accept the outcome only to obtain financing, in which case weak commitment might lead to poor implementation. This paper reviews the theoretical basis for the importance of ownership, summarizes what is known about its empirical effects, and suggests a strategy for strengthening it.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund