Search Results

You are looking at 1 - 10 of 51 items for :

  • "agent's choice" x
Clear All
Boriana Yontcheva
This paper presents a dynamic game of strategic delegation between a principal and an agent. The principal can choose between two organizational designs: a traditional hierarchy where she retains authority over the choice of projects to be implemented or a delegation where she allows her agent to select the project. The key objectives of this model are to identify the long-run determinants of the principal’s choice and verify the impact of the authority allocation on the agent’s effort levels and on the principal’s payoffs. We apply the model to the relationships between institutional donors and nongovernmental organizations.
Mr. Biaggio Bossone, Mr. Sandeep Mahajan, and Mr. Farah Zahir

Front Matter Page Office of the Executive Director Authorized for distribution by Pier Carlo Padoan Contents I. Introduction II. Financial Infrastructure and Incentives for Finance A. Banks and Underdeveloped Financial Infrastructure B. Banks and Developed Financial Infrastructure III. Theory C. The Economy Investors Firms Banks Information producers Providers of (non-information) financial infrastructural services D. Agent Choices Investor’s choice Information producer’s choice Bank’s choice: Collective

International Monetary Fund

countries. The following sections attempt to answer this question, drawing on the theoretical literature and an empirical study of saving behavior in selected transition countries. C. Prospects for Private Saving in Poland International evidence on the behavior of private savings 4. Saving represents economic agentschoice between current and future consumption. The theoretical literature, underpinned by the life cycle hypothesis (LCH) and the permanent income hypothesis (PIH), emphasizes the role of private saving in the intertemporal smoothing of the

International Monetary Fund. African Dept.
This Joint Staff Advisory Note on the Poverty Reduction Strategy Paper for Togo, discusses that the new Strategy for Boosting Growth and Promoting Employment (SCAPE) presents the overarching reference framework for the Government’s development agenda and reflects the authorities’ aspiration to become, over the next 15–20 years, a middle income country, in which the rule of law and human rights are respected. The SCAPE draws upon the results of a nationally representative household survey (QUIBB). Being comprehensive, the SCAPE offers less in terms of prioritization. In light of persistent capacity constraints and limited financing, it would have been advantageous if the SCAPE had presented a clearer perspective on the Government’s role in the development process, if a more focused growth and social development strategy had been articulated, and if SCAPE’s implementation mechanisms had been closer aligned with existing decision-making mechanisms. The IMF staff suggests that the SCAPE’s analysis could be supplemented with additional analyses on the impact of SCAPE policies on poverty, inequality and (rural) employment.
International Monetary Fund. African Dept.

development hubs . The World Development Report 2009 demonstrates that unequal growth is a result of economic agentschoices to do business where returns are highest. Markets, not governments, decide which locations are best; the government’s role is to accommodate emerging locations of high productivity and to ensure, through social policies and investments in infrastructure, that the benefits of growth can spread and places of high productivity can be accessed. 51. Staffs would instead suggest policies that are supportive of enhanced rural growth and internal labor

Mr. Biaggio Bossone, Mr. Sandeep Mahajan, and Mr. Farah Zahir
This study presents a theory of financial infrastructure - or the set of rules, institutions, and systems within which agents carry out financial transactions. It investigates the effects of financial infrastructure development on financial architecture and real capital accumulation, taking into account financial-sector special interests. It shows that a more developed infrastructure promotes financial market growth, reduces the scope of traditional banking, and helps investors make more efficient investment decisions. The theory presented explains why traditional banking predominates in the early stages of economic development and becomes relatively less important as the economy develops, and why banks may retard financial sector development. The study provides evidence in support of its predictions.