Economic Reform When Institutional Quality is Weak PDF Download
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Author: Tony Addison
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Institutional improvement can be a very slow and uncertain process when institutional quality is weak. In the meantime, countries have launched far-reaching economic reforms whose success is predicated on a large investment response. However, the uncertainties attending institutional reform can raise perceptions of risk, thereby muting investment responses. Using new values of institutional quality for three Maghreb countries (Algeria, Morocco and Tunisia), which we derive from fuzzy-set based transformations on freedom indices, we show that moving from low institutional quality to a stage of 'partial improvement' may reduce income per capita, with financial and trade reforms having unintended negative effects.
Author: Tony Addison
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Institutional improvement can be a very slow and uncertain process when institutional quality is weak. In the meantime, countries have launched far-reaching economic reforms whose success is predicated on a large investment response. However, the uncertainties attending institutional reform can raise perceptions of risk, thereby muting investment responses. Using new values of institutional quality for three Maghreb countries (Algeria, Morocco and Tunisia), which we derive from fuzzy-set based transformations on freedom indices, we show that moving from low institutional quality to a stage of 'partial improvement' may reduce income per capita, with financial and trade reforms having unintended negative effects.
Author: Usman Khalid
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
There is a growing consensus among economists and policy makers that institutions matter for economic development and that institutional reforms should be a priority for developing economies. Considering the emphasis on institutional reforms, this study asks whether a catch-up in institutional quality has occurred across countries. The study uses data on 81 countries from 1985 to 2010 and tests the catch-up hypothesis using three different measures of institutional quality that capture both political and economic dimensions of institutions. The results indicate that a catch-up in economic institutional quality has occurred and that most countries with weak economic institutions have a higher rate of change than that of countries with strong economic institutions. In contrast, for political institutions, the catch-up process lasts only a few years.
Author: Hamid E. Ali
Publisher: Palgrave Macmillan
ISBN: 9783030822569
Category : Political Science
Languages : en
Pages : 301
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Book Description
This edited book explores the link between institutional reforms, governance and services delivery in the Global South, mapping how and to what extent resource-poor governments deliver public services to their citizens. The book concludes that delivery of public services responsibly and efficiently remains largely unachievable because of weaker institutions and poor quality of governance in the Global South countries. Reforms to governance and institutions are generally considered fitting measures to overcome public service delivery challenges.
Author: Mr.Jonathan David Ostry
Publisher: International Monetary Fund
ISBN: 1589068181
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821360439
Category : Business & Economics
Languages : en
Pages : 384
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Book Description
This report was prepared by a team led by Roberto Zagha, under the general direction of Gobind Nankani.
Author: Inter-American Development Bank
Publisher: Springer
ISBN: 1137393998
Category : Business & Economics
Languages : en
Pages : 643
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Book Description
Productive transformation requires seizing the opportunities available and opening new ones in a competitive world. Rethinking Productive Development examines the market failures impeding transformation and the government failures that may make the policy remedies worse than the market illness. To address market failures, the authors propose a simple conceptual framework based on the scope and nature of the policy approach. They then systematically analyze country policies through this lens in key areas such as innovation, new firms, financing, human capital, and internationalization to show the power of this way of thinking. Still, the book warns that policymakers cannot be sure what the right policy interventions are and must set up a process to discover them that calls for public-private collaboration. Recognizing that the risk of capture needs to be checked and that even the best policies will fail without the technical, organizational, and political capacity to implement them, the book concludes with ideas on how to design institutions fostering the right incentives and how to grow public sector capabilities over time.
Author: Daniel M. Brinks
Publisher: Cambridge University Press
ISBN: 9781108738880
Category : Political Science
Languages : en
Pages : 75
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Book Description
This Element introduces the concept of institutional weakness, arguing that weakness or strength is a function of the extent to which an institution actually matters to social, economic or political outcomes. It then presents a typology of three forms of institutional weakness: insignificance, in which rules are complied with but do not affect the way actors behave; non-compliance, in which state elites either choose not to enforce the rules or fail to gain societal cooperation with them; and instability, in which the rules are changed at an unusually high rate. The Element then examines the sources of institutional weakness.
Author: Mr.Hamid R Davoodi
Publisher: International Monetary Fund
ISBN: 9781589062290
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Author: Daniel M. Brinks
Publisher: Cambridge University Press
ISBN: 1108803172
Category : Political Science
Languages : en
Pages : 359
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Book Description
Analysts and policymakers often decry the failure of institutions to accomplish their stated purpose. Bringing together leading scholars of Latin American politics, this volume helps us understand why. The volume offers a conceptual and theoretical framework for studying weak institutions. It introduces different dimensions of institutional weakness and explores the origins and consequences of that weakness. Drawing on recent research on constitutional and electoral reform, executive-legislative relations, property rights, environmental and labor regulation, indigenous rights, squatters and street vendors, and anti-domestic violence laws in Latin America, the volume's chapters show us that politicians often design institutions that they cannot or do not want to enforce or comply with. Challenging existing theories of institutional design, the volume helps us understand the logic that drives the creation of weak institutions, as well as the conditions under which they may be transformed into institutions that matter.
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513547437
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
