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Africa > Zimbabwe

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Institutions and the Macroeconomy x
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Cover IMF Working Papers
Pace and Sequencing of Economic Policies
Mr. Juan Zalduendo
This paper examines the design of economic policies using factor analysis, which has several advantages; in particular, it limits the problems that typically arise from the high correlation of economic policy indicators, it helps in identifying clusters of economic policy, and it facilitates the derivation of policy design indicators that represent the pace and sequence of economic policies. Econometric results show that the introduction of sound economic policies has both level effects and growth effects, suggesting it is necessary to exercise caution when assessing a country's growth prospects immediately following the introduction of new policies. In addition, the results suggest that growth strengthens when a country implements policies that outpace either a notional measure of "world average policies" or a country's own policy trend, and highlight the critical role played by macroeconomic vis-à-vis microeconomic policies. The latter also reveals the existence of sequencing factors in policy implementation; for example, trade liberalization and financial liberalization positively affect growth, but more so if economic stability and fiscal sustainability have been secured.
Keywords:
WP; coefficient estimate; factor analysis technique; trade liberalization; private sector; policy cluster
Cover IMF Survey
IMF Survey, Volume 34, Issue 21
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; SDR interest rate; IMF S; IMF Executive Board; IMF quota; IMF HIPC assistance; IMF review; IMF finance department; Bonds; Securities markets; Corporate bonds; Financial sector; Structural reforms; Global; Asia and Pacific; Europe; Eastern Europe; Africa; East Asia; Sub-Saharan Africa
Cover IMF Survey
Calendario
International Monetary Fund. External Relations Dept.
La edición en Internet del Boletín del FMI, que se actualiza varias veces a la semana, contiene numerosos artículos sobre temas de actualidad en el ámbito de las políticas y la economía. Consulte las últimas investigaciones del FMI, lea entrevistas y escuche podcasts de los principales economistas del FMI sobre importantes temas relacionados con la economía mundial. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; SDR interest rate; IMF S; IMF Executive Board; IMF quota
Cover IMF Survey
Calendrier
International Monetary Fund. External Relations Dept.
L’édition web du Bulletin du FMI est mise à jour plusieurs fois par semaine et contient de nombreux articles sur des questions de politique générale et de politique économique d'actualité. Accédez aux dernières recherches du FMI, lisez des interviews et écoutez des podcasts proposés par les principaux économistes du FMI sur des questions importantes de l'économie mondiale. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; SDR interest rate; IMF S; IMF Executive Board; IMF quota
Cover IMF Working Papers
Is Policy Ownership An Operational Concept?
Mr. James M. Boughton and Mr. Alex Mourmouras
IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated compromises between policies initially favored by the Fund and by the country's authorities. In some cases the authorities might be satisfied enough with the outcome to take responsibility for it ("own" it) even though it was not their original preference. In other cases, they might accept the outcome only to obtain financing, in which case weak commitment might lead to poor implementation. This paper reviews the theoretical basis for the importance of ownership, summarizes what is known about its empirical effects, and suggests a strategy for strengthening it.
Keywords:
WP; recipient country government; government need; government decision-makers; policy reaction function; ownership; IMF; conditionality; common agency models; State capture; representative government; recipient government; central bank carrying out; government ownership; government failure; country's authorities; Multilateral development institutions; Structural reforms