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Is Policy Ownership An Operational Concept?
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Author/Editor: |
Boughton, James M. | Mourmouras, Alex |
| Authorized for Distribution: |
April 1, 2002 |
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Electronic Access: |
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: 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.
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Series: |
Working Paper No. 02/72 |
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Subject(s): |
Conditionality | Fund | Economic models |
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Author's keyword(s): |
Ownership | IMF | conditionality | common agency models |
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Published: |
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April 1, 2002 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA0722002 |
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Pages: |
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31 |
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Price: |
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US$15.00
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