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Is Policy Ownership An Operational Concept?

Author/Editor: Boughton, James M. | Mourmouras, Alex
Authorized for Distribution: April 1, 2002
Electronic Access: Free Full Text (PDF file size is 1,950KB)
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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.

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.
 
Series: Working Paper No. 02/72
Subject(s): Conditionality | Fund | Economic models
Author's keyword(s): Ownership | IMF | conditionality | common agency models
 
English  
    Published:   April 1, 2002        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0722002   Pages:   31
    Price:   US$15.00
       
     
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