08492oam 22020294 450 991081330240332120240402045132.01-4755-1820-X1-4755-4247-X(CKB)2550000000106459(EBL)1606721(SSID)ssj0001036168(PQKBManifestationID)11662593(PQKBTitleCode)TC0001036168(PQKBWorkID)11041671(PQKB)11279432(Au-PeEL)EBL1606721(CaPaEBR)ebr10569537(OCoLC)870244995(IMF)WPIEE2012117(IMF)WPIEA2012116(MiAaPQ)EBC1606721(EXLCZ)99255000000010645920020129d2012 uf 0engur|n|---|||||txtccrCountry Stress Events : Does Governance Matter? /Anna Kochanova, Carlos Caceres1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (46 p.)IMF Working PapersIMF working paper ;WP/12/116Description based upon print version of record.1-4755-7068-6 1-4755-0345-8 Includes bibliographical references.Cover; CONTENTS; I. INTRODUCTION; II. DATA AND CONSTRUCTION OF THE MAIN VARIABLES; A. GOVERNANCE MEASURES; B. FISCAL STRESS INDICATOR (FSI); C. POLITICAL STRESS INDICATOR (PSI); D. OTHER VARIABLES; III. ESTIMATION METHODOLOGY AND MAIN RESULTS; A. ESTIMATION TECHNIQUE; B. ESTIMATION RESULTS; IV. DISCUSSION OF THE RESULTS; A. FISCAL STRESS; B. POLITICAL STRESS; V. CONCLUSION; REFERENCES; ANNEX I: DATA AND DESCRIPTIVE STATISTICS; ANNEX II: DATA SOURCES; ANNEX III: FISCAL AND POLITICAL STRESS EVENTS; ANNEX IV: GROUPING OF COUNTRIES BY REGION AND HYDROCARBON EXPORT; ANNEX V: ESTIMATION RESULTSANNEX VI: PREDICTED VALUES FROM STRESS EVENT MODELThis paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduced. The results suggest that weaker governance quality is associated with a higher incidence of both fiscal and political stress events. In particular, internal accountability, which measures the responsiveness of governments to improving the quality of the bureaucracy, public service provision, and respect for the institutional framework in place, is positively associated with fiscal stress events. However, external accountability, which captures government accountability before the public in general, through elections and the democratic process, seems to be more important for political stress events. These results hold when using balanced country samples where region, oil-exporter status, income level, and time are taken into account.IMF Working Papers; Working Paper ;No. 2012/116Economic policyEconomicsBanks and BankingimfMoney and Monetary PolicyimfIndustries: Financial ServicesimfFinancial Risk Managementimf'Panel Data ModelsimfSpatio-temporal Models'imfFinancial Aspects of Economic IntegrationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfSocialist Institutions and Their Transitions: Financial EconomicsimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfFinancial CrisesimfBankingimfMonetary economicsimfFinanceimfEconomic & financial crises & disastersimfForeign banksimfBank creditimfCreditimfLoansimfFinancial institutionsimfMoneyimfFinancial crisesimfBanks and bankingimfBanks and banking, ForeignimfExports and ImportsimfFinance: GeneralimfMacroeconomicsimfPublic FinanceimfCriminologyimfRelation of Economics to Other DisciplinesimfInstitutions and the MacroeconomyimfFiscal PolicyimfCorporate Finance and Governance: Government Policy and RegulationimfLaw and Economics: General (including Data Sources and Description)imfPublic AdministrationimfPublic Sector Accounting and AuditsimfPersonal Income, Wealth, and Their DistributionsimfBureaucracyimfAdministrative Processes in Public OrganizationsimfCorruptionimfInternational Lending and Debt ProblemsimfGeneral Financial Markets: Government Policy and RegulationimfPublic finance & taxationimfCorporate crimeimfwhite-collar crimeimfInternational economicsimfFiscal risksimfPersonal incomeimfDebt defaultimfFinancial soundness indicatorsimfFiscal policyimfIncomeimfDebts, ExternalimfFinancial services industryimfSerbia, Republic ofimfRussian FederationimfEconomic policy.Economics.Banks and BankingMoney and Monetary PolicyIndustries: Financial ServicesFinancial Risk Management'Panel Data ModelsSpatio-temporal Models'Financial Aspects of Economic IntegrationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesSocialist Institutions and Their Transitions: Financial EconomicsMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralFinancial CrisesBankingMonetary economicsFinanceEconomic & financial crises & disastersForeign banksBank creditCreditLoansFinancial institutionsMoneyFinancial crisesBanks and bankingBanks and banking, ForeignExports and ImportsFinance: GeneralMacroeconomicsPublic FinanceCriminologyRelation of Economics to Other DisciplinesInstitutions and the MacroeconomyFiscal PolicyCorporate Finance and Governance: Government Policy and RegulationLaw and Economics: General (including Data Sources and Description)Public AdministrationPublic Sector Accounting and AuditsPersonal Income, Wealth, and Their DistributionsBureaucracyAdministrative Processes in Public OrganizationsCorruptionInternational Lending and Debt ProblemsGeneral Financial Markets: Government Policy and RegulationPublic finance & taxationCorporate crimewhite-collar crimeInternational economicsFiscal risksPersonal incomeDebt defaultFinancial soundness indicatorsFiscal policyIncomeDebts, ExternalFinancial services industry332.10973Kochanova Anna1636709Caceres Carlos882223International Monetary Fund.DcWaIMFBOOK9910813302403321Country Stress Events3978112UNINA