{
  "title": "Paraguay: Corruption, Reform, and the Financial System",
  "publication": "IMF Special Issues, September 7, 2005",
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  "summary": "Following some historical background, this paper describes how corruption is manifested in Paraguay. The paper distinguishes between factors that explain the growth performance of Paraguay since 1960 (where corruption does not directly enter as a significant factor) and factors that explain the rela",
  "sections": [
    {
      "heading": "Summary and scope",
      "content": "- Follows historical background and describes how corruption is manifested in Paraguay.\n- Distinguishes between:\n  - Factors that explain Paraguay's growth performance since 1960 (where corruption does not directly enter as a significant factor).\n  - Factors that explain the relative level of income of Paraguay in the past 40 or 50 years compared with other countries.\n- Illustrates how Paraguay's weak institutions may have led to long-term growth below its potential.\n- Briefly considers how Paraguay could improve its institutions.\n- Argues that prudent policies and willingness to consider adoption of international best practices will exert pressure for change, leading to gradual improvement of institutional quality necessary for sustained long-run growth."
    },
    {
      "heading": "Key findings and analysis",
      "content": "- Corruption manifestations in Paraguay are described (details provided in the full paper).\n- Corruption is separated from the determinants of growth since 1960, implying it is not a primary direct factor for growth performance in that period.\n- Weak institutions are linked to long-term growth outcomes below potential.\n- Institutional quality is presented as a necessary condition for sustained long-run growth."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Adoption of international best practices is recommended as a lever to exert pressure for institutional change.\n- Prudent macroeconomic and structural policies, combined with openness to reforms, are posited to produce gradual improvement in institutional quality.\n- Improvements in institutional quality are necessary for achieving sustained long-run growth."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Authors: Jeffrey R. Franks, Randa Sab, Valerie A Mercer-Blackman, Roberto Benelli\n- Publication date: September 7, 2005\n- Pages: 129\n- DOI: https://doi.org/10.5089/9781589064201.058\n- Stock No: ISIEA2005003\n- ISBN: 9781589064201\n- Subjects: Banking, Expenditure, Foreign exchange, Labor, Pension spending, Pensions, Real effective exchange rates, Real exchange rates, Retirement, Wages\n- Keywords include: exchange rate, government effectiveness, pension recipient, Pension spending, Pensions, Real effective exchange rates, real exchange rate, Real exchange rates, Retirement, retirement age, SI, South America, Sub-Saharan Africa, survivor pension, terms of trade, wage inflation, Wages\n\nParaguay: Corruption, Reform, and the Financial System (International Monetary Fund, 2005).\n\n---\n\n Content in this bundle\n\n- Paraguay:  Corruption, Reform, and the Financial System; Jeffrey Franks et. al; September 7, 2005\n  - Paraguay:  Corruption, Reform, and the Financial System; Jeffrey Franks et. al; September 7, 2005 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Paraguay:  Corruption, Reform, and the Financial System; Jeffrey Franks et. al; September 7, 2005 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/imf-special-issues/issues/2016/12/31/paraguay-corruption-reform-and-the-financial-system-18195"
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    "Authors: Jeffrey R. Franks, Randa Sab, Valerie A Mercer-Blackman, Roberto Benelli",
    "Published: September 7, 2005",
    "Series: IMF Special Issues",
    "DOI: https://doi.org/10.5089/9781589064201.058",
    "Follows historical background and describes how corruption is manifested in Paraguay.",
    "Distinguishes between:",
    "Illustrates how Paraguay's weak institutions may have led to long-term growth below its potential.",
    "Briefly considers how Paraguay could improve its institutions.",
    "Argues that prudent policies and willingness to consider adoption of international best practices will exert pressure for change, leading to gradual improvement of institutional quality necessary for sustained long-run growth.",
    "Corruption manifestations in Paraguay are described (details provided in the full paper).",
    "Corruption is separated from the determinants of growth since 1960, implying it is not a primary direct factor for growth performance in that period.",
    "Weak institutions are linked to long-term growth outcomes below potential.",
    "Institutional quality is presented as a necessary condition for sustained long-run growth.",
    "Adoption of international best practices is recommended as a lever to exert pressure for institutional change.",
    "Prudent macroeconomic and structural policies, combined with openness to reforms, are posited to produce gradual improvement in institutional quality.",
    "Improvements in institutional quality are necessary for achieving sustained long-run growth.",
    "Authors: Jeffrey R. Franks, Randa Sab, Valerie A Mercer-Blackman, Roberto Benelli",
    "Publication date: September 7, 2005",
    "Pages: 129",
    "DOI: https://doi.org/10.5089/9781589064201.058",
    "Stock No: ISIEA2005003",
    "ISBN: 9781589064201",
    "Subjects: Banking, Expenditure, Foreign exchange, Labor, Pension spending, Pensions, Real effective exchange rates, Real exchange rates, Retirement, Wages",
    "Keywords include: exchange rate, government effectiveness, pension recipient, Pension spending, Pensions, Real effective exchange rates, real exchange rate, Real exchange rates, Retirement, retirement age, SI, South America, Sub-Saharan Africa, survivor pension, terms of trade, wage inflation, Wages",
    "**Paraguay:  Corruption, Reform, and the Financial System; Jeffrey Franks et. al; September 7, 2005**"
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