06406oam 22014534 450 991097368250332120250426110451.09781475518207147551820X9781475542479147554247X(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)EBC1606721WPIEA2012116(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.9781475570687 1475570686 9781475503456 1475503458 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 policyEconomicsAdministrative Processes in Public OrganizationsimfBureaucracyimfCorporate crimeimfCorporate Finance and Governance: Government Policy and RegulationimfCorruptionimfCriminologyimfDebt defaultimfDebts, ExternalimfExports and ImportsimfFinanceimfFinance: GeneralimfFinancial services industryimfFinancial soundness indicatorsimfFiscal PolicyimfFiscal policyimfFiscal risksimfGeneral Financial Markets: Government Policy and RegulationimfIncomeimfInstitutions and the MacroeconomyimfInternational economicsimfInternational Lending and Debt ProblemsimfLaw and Economics: General (including Data Sources and Description)imfMacroeconomicsimfPersonal incomeimfPersonal Income, Wealth, and Their DistributionsimfPublic AdministrationimfPublic finance & taxationimfPublic FinanceimfPublic Sector Accounting and AuditsimfRelation of Economics to Other DisciplinesimfWhite-collar crimeimfRussian FederationimfEconomic policy.Economics.Administrative Processes in Public OrganizationsBureaucracyCorporate crimeCorporate Finance and Governance: Government Policy and RegulationCorruptionCriminologyDebt defaultDebts, ExternalExports and ImportsFinanceFinance: GeneralFinancial services industryFinancial soundness indicatorsFiscal PolicyFiscal policyFiscal risksGeneral Financial Markets: Government Policy and RegulationIncomeInstitutions and the MacroeconomyInternational economicsInternational Lending and Debt ProblemsLaw and Economics: General (including Data Sources and Description)MacroeconomicsPersonal incomePersonal Income, Wealth, and Their DistributionsPublic AdministrationPublic finance & taxationPublic FinancePublic Sector Accounting and AuditsRelation of Economics to Other DisciplinesWhite-collar crime332.10973Kochanova Anna1815889Caceres Carlos882223International Monetary Fund.DcWaIMFBOOK9910973682503321Country Stress Events4371500UNINA