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The Discipline-Enhancing Role of Fiscal Institutions; Theory and Empirical Evidence

Debrun, Xavier; Kumar, Manmohan S. - International Monetary Fund (IMF) - 2007

This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal institutions lack credibility unless the costs to bypass them are sufficiently high. In our model, a...

Persistent link: https://www.econbiz.de/10005825631

Rethinking the Governance of the International Monetary Fund

Mirakhor, Abbas; Zaidi, Iqbal Mehdi - International Monetary Fund (IMF) - 2006

This paper attempts to set out the principal issues that need to be resolved in formulating a proposal for quotas and voice reform in the IMF that could command broad support. Following John Rawls, we argue that "justice is the first virtue of social institutions," and we use his theory of...

Persistent link: https://www.econbiz.de/10005825790

Political Budget Cycles in Papua New Guinea

Faal, Ebrima - International Monetary Fund (IMF) - 2007

noteworthy that revenue was not statistically significantly related to elections, either in the pre- or post-election period. In …

Persistent link: https://www.econbiz.de/10005826270

Political Price Cycles in Regulated Industries; Theory and Evidence

Paiva, Claudio; Moita, Rodrigo - International Monetary Fund (IMF) - 2006

This paper develops a model of political regulation in which politicians set the regulated price in order to maximize electoral support by signaling to voters a pro-consumer behavior. Political incentives and welfare constraints interact in the model, yielding an equilibrium in which the real...

Persistent link: https://www.econbiz.de/10005826438

Papua New Guinea; Selected Issues Paper and Statistical Appendix

International Monetary Fund (IMF); International … - 2007

This paper examines and tests the existence of political budget cycles in Papua New Guinea during the period 1988â€“2004. Several factors point to the existence of political budget cycles in Papua New Guinea. The paper provides an overview of the political business cycle literature, and...

Persistent link: https://www.econbiz.de/10011245020

Hold Your Nose and Vote; Why Do Some Democracies tolerate Corruption?

Pani, Marco - International Monetary Fund (IMF) - 2009

This paper analyses why corruption can persist for long periods in a democracy and inquires whether this can result from a well-informed rational choice of the citizens. By applying a citizen-candidate model of representative democracy, the paper analyzes how corruption distortsthe allocation of...

Persistent link: https://www.econbiz.de/10004999974

Ghana; Economic Development in a Democratic Environment

Harnack, Joachim; Leite, Sérgio Pereira.; Fabrizio, … - International Monetary Fund (IMF) - 2000

Persistent link: https://www.econbiz.de/10005767349

Modeling Politics with Economics tools; A Critical Survey of the Literature

Olters, Jan-Peter - International Monetary Fund (IMF) - 2001

Whereas the economics discipline possesses a highly refined theoretical apparatus to analyze the effects of government behaviour on the economy, it has not (yet) managed to fully develop a positively formulated "economic theory of politics" that would permit the integration of the...

Persistent link: https://www.econbiz.de/10005605269

Do Elections Always Motivate Incumbents? Experimentation vs. Career Concerns

Lockwood, Ben; Borgne, Eric Le - International Monetary Fund (IMF) - 2003

effort so that performance becomes a more accurate signal of her ability. Elections reduce the experimentation effect, and … the reduction in this effect may more than offset the positive "career-concerns" effect of elections on effort. Moreover …, when this occurs, appointment of officeholders may Pareto-dominate elections. …

Persistent link: https://www.econbiz.de/10005605403

Ethnic Diversity, Democracy, and Corruption

Yehoue, Etienne B. - International Monetary Fund (IMF) - 2007

I study the link between ethnic diversity, democracy, and corruption. In a static model, I show that contrary to conventional wisdom, corruption might emerge as a negative externality of democracy. This occurs through ethnicity, which appears as a rent-extracting technology in a democratic...

Persistent link: https://www.econbiz.de/10005248127