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Trust As a Means of Improving Corporate Governance and Efficiency
Chami, Ralph; Fullenkamp, Connel - International Monetary Fund (IMF) - 2002
Agency problems within the firm are a significant hindrance to efficiency. We propose trust between coworkers as a superior alternative to the standard tools used to mitigate agency problems: increased monitoring and incentive-based pay. We show how trust induces employees to work harder,...
Persistent link: https://www.econbiz.de/10005826212
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Conditional Lending Under Altruism
Mourmouras, Alex; Rangazas, Peter - International Monetary Fund (IMF) - 2004
We analyze how the altruism of an international financial institution (IFI) towards its lowincome member countries …. Thus, IFI altruism and the inability to commit are sufficient reasons to equip loans with conditions. Conditional loans … produce an efficient allocation of resources, so altruism is not a fundamental reason that loans fail to increase welfare. …
Persistent link: https://www.econbiz.de/10005604948
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Japan; Spillover Report for the 2011 Article IV Consultation and Selected Issues
International Monetary Fund (IMF); International … - 2011
Japan’s position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive to spillovers being larger than captured by the empirical analysis. Apart...
Persistent link: https://www.econbiz.de/10011244326
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Philippines; Selected Issues
International Monetary Fund (IMF); International … - 2012
This Selected Issues paper reports that the Philippines is influenced by global developments through both trade and financial channels. Weaker global growth hurts demand for Philippine exports, which in turn affects consumption and investment. The financial system has only limited exposure to...
Persistent link: https://www.econbiz.de/10011244763
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Germany; Staff Report for the 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2012
This 2012 Article IV Consultation reports that the German economy’s performance has been remarkable despite facing considerable headwinds. Several conditions are now in place in Germany for a domestic demand-led recovery. Employment creation has been robust and unemployment at 5.3 percent...
Persistent link: https://www.econbiz.de/10011245124
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Indonesia; Staff Report for the 2012 Article IV Consultation
International Monetary Fund (IMF); International … - 2012
Staff Report for the 2012 Article IV consultation, prepared by a staff team of the IMF, following discussions that ended on July 6, 2012, with the officials of Indonesia on economic developments and policies. Based on information available at the time of these discussions, the staff report was...
Persistent link: https://www.econbiz.de/10011245431
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People's Republic of China; Spillover Report for the 2011 Article IV Consultation and Selected Issues.
International Monetary Fund (IMF); International … - 2011
The Chinese authorities welcomed the spillover analysis, noting that their policies have important global spillover effects. The note also discusses China’s evolving role in global trade, impact of rebalancing on the supply chain, estimating China’s spillovers, elasticities...
Persistent link: https://www.econbiz.de/10011245636
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Japan; 2006 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2006
Japan showed strong economic recovery from the crisis. Executive Directors welcomed the development and stressed the need for a strong monetary framework, well-designed fiscal consolidation, and structural reforms. Directors agreed that the Bank of Japan’s monetary framework is well...
Persistent link: https://www.econbiz.de/10011245637
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Germany; 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany
International Monetary Fund (IMF); International … - 2011
Germany’s economic growth and recovery from the global crisis are explained in this study. Tax, education, and innovation policies are specific measures supported by the authorities. External and financial shocks received by Germany and other outward spillovers are outlined. Germany has a...
Persistent link: https://www.econbiz.de/10011245844
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Singapore; 2005 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of Singapore
International Monetary Fund (IMF); International … - 2006
This 2005 Article IV Consultation highlights that Singapore’s economy has recovered rapidly since mid-2003, having weathered a series of adverse shocks since the Asian crisis. This turnaround owes much to a favorable external environment, supportive macroeconomic policies, and continued...
Persistent link: https://www.econbiz.de/10011245850