Imf Conditionality and Program Ownership: A Case for Streamlined Conditionality
Program conditionality and ownership are important considerations in the IMF''s current rethinking of program design. This paper contributes to the literature by developing a theory of program conditionality and ownership on the basis of Cumulative Prospect Theory. The policymaker may valu...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2003
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Schriftenreihe: | IMF Working Papers
Working Paper No. 03/98 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Program conditionality and ownership are important considerations in the IMF''s current rethinking of program design. This paper contributes to the literature by developing a theory of program conditionality and ownership on the basis of Cumulative Prospect Theory. The policymaker may value a set of programs, each with fewer conditions, more than an extended program with as many conditions. This valuation bias is greater in ambiguity (Knightian uncertainty) than under uncertainty. If greater valuation of a program engenders more explicit and implicit ownership, then programs with fewer conditions may have a better chance of success. Less is more |
Beschreibung: | 1 Online-Ressource (18 p) |
ISBN: | 1451852169 9781451852165 |
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spelling | Erbas, S. Nuri Verfasser aut Imf Conditionality and Program Ownership A Case for Streamlined Conditionality Erbas, S. Nuri Washington, D.C International Monetary Fund 2003 1 Online-Ressource (18 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 03/98 Program conditionality and ownership are important considerations in the IMF''s current rethinking of program design. This paper contributes to the literature by developing a theory of program conditionality and ownership on the basis of Cumulative Prospect Theory. The policymaker may value a set of programs, each with fewer conditions, more than an extended program with as many conditions. This valuation bias is greater in ambiguity (Knightian uncertainty) than under uncertainty. If greater valuation of a program engenders more explicit and implicit ownership, then programs with fewer conditions may have a better chance of success. Less is more Online-Ausg http://elibrary.imf.org/view/IMF001/03290-9781451852165/03290-9781451852165/03290-9781451852165.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Erbas, S. Nuri Imf Conditionality and Program Ownership A Case for Streamlined Conditionality |
title | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality |
title_auth | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality |
title_exact_search | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality |
title_exact_search_txtP | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality |
title_full | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality Erbas, S. Nuri |
title_fullStr | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality Erbas, S. Nuri |
title_full_unstemmed | Imf Conditionality and Program Ownership A Case for Streamlined Conditionality Erbas, S. Nuri |
title_short | Imf Conditionality and Program Ownership |
title_sort | imf conditionality and program ownership a case for streamlined conditionality |
title_sub | A Case for Streamlined Conditionality |
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