This paper underscores the importance of the assessment of incentives of the main agents in a financial system as a key … diagnostic approach for the assessment of incentives. This approach highlights the need for additional research on the …

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

This paper deals with efficiency in the public sector. It argues that the habit of relating efficiency to public …, buildings, etc.) without imputing a cost for that use. The paper argues that, because of lack of incentives, governments are … could be used for several purposes including increasing public sector efficiency …