LEADER 06403oam 22014534 450 001 9910973682503321 005 20251116154218.0 010 $a9781475518207 010 $a147551820X 010 $a9781475542479 010 $a147554247X 035 $a(CKB)2550000000106459 035 $a(EBL)1606721 035 $a(SSID)ssj0001036168 035 $a(PQKBManifestationID)11662593 035 $a(PQKBTitleCode)TC0001036168 035 $a(PQKBWorkID)11041671 035 $a(PQKB)11279432 035 $a(Au-PeEL)EBL1606721 035 $a(CaPaEBR)ebr10569537 035 $a(OCoLC)870244995 035 $a(IMF)WPIEE2012117 035 $a(IMF)WPIEA2012116 035 $a(MiAaPQ)EBC1606721 035 $aWPIEA2012116 035 $a(EXLCZ)992550000000106459 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCountry Stress Events : $eDoes Governance Matter? /$fAnna Kochanova, Carlos Caceres 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (46 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/12/116 300 $aDescription based upon print version of record. 311 08$a9781475570687 311 08$a1475570686 311 08$a9781475503456 311 08$a1475503458 320 $aIncludes bibliographical references. 327 $aCover; 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 RESULTS 327 $aANNEX VI: PREDICTED VALUES FROM STRESS EVENT MODEL 330 3 $aThis paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduced. The results suggest that weaker governance quality is associated with a higher incidence of both fiscal and political stress events. In particular, internal accountability, which measures the responsiveness of governments to improving the quality of the bureaucracy, public service provision, and respect for the institutional framework in place, is positively associated with fiscal stress events. However, external accountability, which captures government accountability before the public in general, through elections and the democratic process, seems to be more important for political stress events. These results hold when using balanced country samples where region, oil-exporter status, income level, and time are taken into account. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/116 606 $aEconomic policy 606 $aEconomics 606 $aAdministrative Processes in Public Organizations$2imf 606 $aBureaucracy$2imf 606 $aCorporate crime$2imf 606 $aCorporate Finance and Governance: Government Policy and Regulation$2imf 606 $aCorruption$2imf 606 $aCriminology$2imf 606 $aDebt default$2imf 606 $aDebts, External$2imf 606 $aExports and Imports$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial services industry$2imf 606 $aFinancial soundness indicators$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal risks$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aIncome$2imf 606 $aInstitutions and the Macroeconomy$2imf 606 $aInternational economics$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aLaw and Economics: General (including Data Sources and Description)$2imf 606 $aMacroeconomics$2imf 606 $aPersonal income$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aPublic Administration$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aPublic Sector Accounting and Audits$2imf 606 $aRelation of Economics to Other Disciplines$2imf 606 $aWhite-collar crime$2imf 607 $aRussian Federation$2imf 615 0$aEconomic policy. 615 0$aEconomics. 615 7$aAdministrative Processes in Public Organizations 615 7$aBureaucracy 615 7$aCorporate crime 615 7$aCorporate Finance and Governance: Government Policy and Regulation 615 7$aCorruption 615 7$aCriminology 615 7$aDebt default 615 7$aDebts, External 615 7$aExports and Imports 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial services industry 615 7$aFinancial soundness indicators 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal risks 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aIncome 615 7$aInstitutions and the Macroeconomy 615 7$aInternational economics 615 7$aInternational Lending and Debt Problems 615 7$aLaw and Economics: General (including Data Sources and Description) 615 7$aMacroeconomics 615 7$aPersonal income 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aPublic Administration 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aPublic Sector Accounting and Audits 615 7$aRelation of Economics to Other Disciplines 615 7$aWhite-collar crime 676 $a332.10973 700 $aKochanova$b Anna$01815889 701 $aCa?ceres$b Carlos$00 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910973682503321 996 $aCountry Stress Events$94371500 997 $aUNINA