Primer on Reforms in a Second-Best Ambiguous Environment: A Case for Gradualism PDF Download
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Author: S. Nuri Erbas
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: S. Nuri Erbas
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: S. Nuri Erbas
Publisher:
ISBN:
Category : Ambiguity
Languages : en
Pages : 62
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Author: Mr.S. Nuri Erbas
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451846980
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Ambiguity, as opposed to uncertainty, reflects lack of sufficient information about distribution and payoffs of infrequent events. Reforms are infrequent events, undertaken in ambiguous second-best environments where bad reform outcomes are feasible. A general case for the gradualist reform strategy is that it may pay to defer some reforms until relevant information about possible reform outcomes and associated probabilities is revealed, and ambiguity is reduced over time. Gradualism may dominate the big bang strategy, if some of the reforms in a reform sequence are not sure bets and waiting costs do not dominate reversal costs under some information sets forthcoming over time. The relation to Ellsberg's Paradox is discussed. Some cases for and against gradualism are reviewed.
Author: Mr.S. Nuri Erbas
Publisher: International Monetary Fund
ISBN: 1451852169
Category : Business & Economics
Languages : en
Pages : 19
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Book Description
Program conditionality and ownership are important considerations in the IMF's current rethinking of program design. This paper contributes to the literature by developing a theory of program conditionality and ownership on the basis of Cumulative Prospect Theory. The policymaker may value a set of programs, each with fewer conditions, more than an extended program with as many conditions. This valuation bias is greater in ambiguity (Knightian uncertainty) than under uncertainty. If greater valuation of a program engenders more explicit and implicit ownership, then programs with fewer conditions may have a better chance of success. Less is more.
Author: Ishtiaq Jamil
Publisher: Springer
ISBN: 3319152181
Category : Law
Languages : en
Pages : 258
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Book Description
This book explores and analyzes governance and policy issues in South, Southeast, and East Asia. It maps governance challenges and analyzes current trends from the perspectives of democracy, public policy, and public institutions. Regional public administration and governance systems have undergone some phenomenal changes over the last three decades and have played a key role in the economic progress of the area, especially in the Southeast and East Asian nations. Rich with country-specific evidence and analyses, the chapters in the book apply empirical and other research methods to examine shifting paradigms and best practices. This book develops an understanding of changes in the forms, process and practices of governance, both within the context of each nation and in a comparative perspective. The book will appeal to scholars, academics, students, and practitioners of public administration, political science, and policy issues.
Author: Saleh M. Nsouli
Publisher: International Monetary Fund
ISBN:
Category : Developing countries
Languages : en
Pages : 44
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Author:
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 444
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Author: Vŭ Thành Tư Anh
Publisher:
ISBN:
Category : Privatization
Languages : en
Pages : 152
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This dissertation consists of three self-contained papers on economic reform in transition economies, with a special focus on Vietnam.
Author: International Monetary Fund
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 444
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Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 286
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