{
  "title": "Towards a Market Economy: Structures of Governance",
  "publication": "IMF Working Papers, January 1, 1997",
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  "summary": "This paper proposes an operational interpretation of the concept of economic governance. It argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Proposes an operational interpretation of the concept of economic governance.\n- Argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated.\n- Emphasizes that a secure economic environment is essential for sustained growth in a market economy and can be established through a rules–based system."
    },
    {
      "heading": "Key propositions and findings",
      "content": "- A rules–based system should ensure:\n  - freedom of entry into the market,\n  - access to information,\n  - sanctity of contracts.\n- Creating a secure economic environment involves profound, far–reaching social change and has historically been a complex and lengthy process in most societies.\n- Basing policy prescriptions on the benchmark of government capacity to secure the economic environment helps avoid possible conflicts between different social and moral values."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Evaluate governance against the benchmark of credible governmental capacity to ensure a secure economic environment.\n- Design and implement rules–based systems that operationalize:\n  - market entry freedom,\n  - information access,\n  - contract sanctity.\n- Recognize that reforms will be socially transformative and likely protracted; tailor sequencing and communication to manage social and moral value tensions."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Corruption, Crime, Environment, Financial institutions, Securities.\n- Keywords include: authority; consists of policy action; Corruption; discretionary power; economic policy; economic system; economy; governance consist; government; government activity; government behavior; government credibility; government decision; government policy; government predictability; investment; market economy; Securities; WP."
    },
    {
      "heading": "Publication metadata (as provided in source)",
      "content": "- Authors: Pierre Dhonte, Ishan Kapur\n- Date: January 1, 1997\n- Pages: 16\n- Volume: 1997\n- Issue: 011\n- Series: Working Paper No. 1997/011\n- DOI: https://doi.org/10.5089/9781451842746.001\n- Stock No: WPIEA0111997\n- ISBN: 9781451842746\n- ISSN: 1018-5941\n\nSource: Towards a Market Economy: Structures of Governance, IMF Working Paper 1997/011.\n\n---\n\n Content in this bundle\n\n- Towards a Market Economy: Structures of Governance  WP/97/11\n  - Towards a Market Economy: Structures of Governance  WP/97/11 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Towards a Market Economy: Structures of Governance  WP/97/11 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/towards-a-market-economy-structures-of-governance-2103"
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    "Authors: Pierre Dhonte, Ishan Kapur",
    "Published: January 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451842746.001",
    "Proposes an operational interpretation of the concept of economic governance.",
    "Argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated.",
    "Emphasizes that a secure economic environment is essential for sustained growth in a market economy and can be established through a rules–based system.",
    "A rules–based system should ensure:",
    "Creating a secure economic environment involves profound, far–reaching social change and has historically been a complex and lengthy process in most societies.",
    "Basing policy prescriptions on the benchmark of government capacity to secure the economic environment helps avoid possible conflicts between different social and moral values.",
    "Evaluate governance against the benchmark of credible governmental capacity to ensure a secure economic environment.",
    "Design and implement rules–based systems that operationalize:",
    "Recognize that reforms will be socially transformative and likely protracted; tailor sequencing and communication to manage social and moral value tensions.",
    "Subject areas: Corruption, Crime, Environment, Financial institutions, Securities.",
    "Keywords include: authority; consists of policy action; Corruption; discretionary power; economic policy; economic system; economy; governance consist; government; government activity; government behavior; government credibility; government decision; government policy; government predictability; investment; market economy; Securities; WP.",
    "Authors: Pierre Dhonte, Ishan Kapur",
    "Date: January 1, 1997",
    "Pages: 16",
    "Volume: 1997",
    "Issue: 011",
    "Series: Working Paper No. 1997/011",
    "DOI: https://doi.org/10.5089/9781451842746.001",
    "Stock No: WPIEA0111997",
    "ISBN: 9781451842746",
    "ISSN: 1018-5941",
    "**Towards a Market Economy: Structures of Governance  WP/97/11**"
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