کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5094193 | 1478481 | 2018 | 45 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Room for discretion? Biased decision-making in international financial institutions
ترجمه فارسی عنوان
اتاق برای اختیار؟ تصمیم گیری بی طرفانه در موسسات مالی بین المللی
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
We exploit the degree of discretion embedded in the World Bank-IMF Debt Sustainability Framework (DSF) to understand the decision-making process of international financial institutions. The unique, internal dataset we use covers the universe of debt sustainability analyses conducted between December 2006 and January 2015 for low-income countries. These data allow us to identify cases where the risk rating implied by the application of the DSF's mechanical rules was overridden to assign a different official rating. Our results show that both political interests and bureaucratic incentives influence the decision to intervene in the mechanical decision-making process. Countries that are politically aligned with the institutions' major shareholders are more likely to receive an improved rating; especially in election years and when the mechanical assessment is not clear-cut. These results suggest that the room for discretion international financial institutions have can be a channel for informal governance and a source of biased decision-making.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Development Economics - Volume 130, January 2018, Pages 1-16
Journal: Journal of Development Economics - Volume 130, January 2018, Pages 1-16
نویسندگان
Valentin F. Lang, Andrea F. Presbitero,