Is Policy Ownership An Operational Concept?
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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.
Series:
Working Paper No. 2002/072
Subject:
Banking Financial institutions Foreign aid Labor Macrostructural analysis Multilateral development institutions Political economy Structural reforms
English
Publication Date:
April 1, 2002
ISBN/ISSN:
9781451849356/1018-5941
Stock No:
WPIEA0722002
Pages:
31
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