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Reforming the Russian Budget System; A Move to More Devolved Budget Management?
Diamond, Jack - International Monetary Fund (IMF) - 2005
The Russian federal government has recently initiated a fundamental reform of its budget system, encompassing important policy, procedural, and institutional changes. This paper reviews this reform agenda with reference to the experience of industrial countries that over the past two to three...
Persistent link: https://www.econbiz.de/10005768760
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Institutional Arrangements for Macroprudential Policy in Asia
Lim, Cheng Hoon; Ramchand, Rishi S; Wang, Hong; Wu, Xiaoyong - International Monetary Fund (IMF) - 2013
This paper surveys institutional arrangements for macroprudential policy in Asia. Central banks in Asia typically have a financial stability mandate, and play a key role in the macroprudential framework. Smaller and more open economies with prudential regulation inside the central bank tend to...
Persistent link: https://www.econbiz.de/10010790389
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Reforming the Corporate Governance of Italian Banks
Jassaud, Nadège - International Monetary Fund (IMF) - 2014
Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets …. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges … improving their corporate governance, more needs to be done. In this regard, further improvements should include: (i …
Persistent link: https://www.econbiz.de/10010959465
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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
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Financial Globalization and the Governance of Domestic Financial Intermediaries
Tressel, Thierry; Verdier, Thierry - International Monetary Fund (IMF) - 2007
the general equilibrium effects of capital flows (portfolio investments and loans, FDI) on the governance of domestic … banks. We find that liberalization of capital flows may deteriorate the governance of the domestic financial system by …
Persistent link: https://www.econbiz.de/10005248244
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Dynamic Incentives and the Optimal Delegation of Political Power
Borgne, Eric Le; Eggertsson, Gauti B. - International Monetary Fund (IMF) - 2007
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 Blinder (1998). Delegation trades-off the cost of having a possibly incompetent...
Persistent link: https://www.econbiz.de/10005263663
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Did Botswana Escape From the Resource Curse?
Iimi, Atsushi - International Monetary Fund (IMF) - 2006
resource abundance can contribute to growth. It finds that governance determines the extent to which the growth effects of …
Persistent link: https://www.econbiz.de/10005263757
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Monetary Policy and Corporate Behaviour in India
International Monetary Fund (IMF); International … - 2005
The paper examines the association and corporate behavior for a sample of manufacturing firms in India for the post-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt, although the lagged response is positive, and listed...
Persistent link: https://www.econbiz.de/10005263785
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Big Government, High Debt, and Fiscal Adjustment in Small States
Ota, Rui; Cas, Stephanie Medina - International Monetary Fund (IMF) - 2008
restraint, can underpin growth, although sometimes other elements can also impact. Since better governance is associated with … lower debt, fiscal adjustment should be supported by governance improvements. …
Persistent link: https://www.econbiz.de/10005263886
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Does Trade and Technology Transmission Facilitate Inequality Convergence? An inquiry Into the Role of Technology in Reducing the Poverty of Nations
Das, Gouranga Gopal - International Monetary Fund (IMF) - 2007
capability, better governance and institutions, technological symmetry and social acceptance-causes income to increase and income …
Persistent link: https://www.econbiz.de/10005264015