DOCSLIB.ORG

Download the Farsi Version

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Download the Farsi Version : : Public Choicce- A primer . -1952 : Butler, Eamonn / : . .1391 : : . 136 : 978-964-5890-92-4 : : PublicChoicceAprimer,2012 : : . : : -- : -1344 : -1359 : HB846/8/27 1391 : 302/1301 : 2827315 : . ( ) : : : : : 1391 - : 500 : 978-964-5890-92-4 : 8,000 : -14 - - - : 88950475 : 88983324-88954041 : www.goto847.ir 7 9 13 15 « » -1 15 16 18 « » 20 22 23 24 « » 25 – « » -2 26 « » 27 « » 29 30 31 32 33 35 37 -3 39 40 41 42 44 45 47 -4 47 49 50 52 53 55 57 -5 57 59 60 61 63 64 67 ( ) : -6 68 70 71 73 74 76 77 : -7 78 80 82 83 85 -8 85 87 88 89 93 -9 95 96 98 99 101 -10 102 104 105 107 109 111 -11 111 112 114 116 « » 119 -12 121 123 124 125 127 129 133 « » First published in Great Britain in 2012 by The Institute of Economic Affairs 2 Lord North Street, Westminster, London sw1p 3lb in association with Profile Books Ltd Copyright © The Institute of Economic Affairs 2012 The moral right of the author has been asserted. All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. A CIP catalogue record for this book is available from the British Library. ISBN 978 0 255 36650 2 eISBN 978 0 255 36677 9 Many IEA publications are translated into language s other than English or are reprinted. Permission to translate or to reprint should be sought from the Director General at the address above. Typeset in Stone by MacGuru Ltd [email protected] Printed and bound in Britain by Hobbs the Printer 1« » « » . « » 1978 1970 . « » . « » « » « » « » « » . » . . « » « » 2« » ) 3« 4« » ( - « » : . . » ) « 1 . Adam Smith Institute 2 . The Best Book on the Market 3 . The Rotten State of Britain 4 . The Alternative Manifesto ( . . . . . . . » « » . « . ( ) . « » - – . «» « » . . « » ( ) ( ) « » . . 1 « » . ( ) 1. Heathrow airport 10 ) 1« » « » . ( 2« » » 3« » . ) 4« » 5« » 7« » ( 6« ) . ( 8« » . . . . . 1. Arthur Seldon 2. The Economics of Politics 3. Gordon Tullock 4. James Buchanan 5. Yes, Minister 6. Yes, Prime Minister 7. IEA (Institute of Economic Affairs) 8. Eamonn Butler 11 - . . « » . « » . 2012 12 « » . . . . . . « » . » . « . « » . : . . » . 1« . . 1. median voter - ) . ( 1« » . . 2« » – » 3« . . 49 51 " : . ." . – – « » . 1. rational ignorance 2. rent seeking 3. logrolling 14 « » -1 « » « » . « » . – . . . 2«» 1«» . – . 1. economics 2. oikonomia - . . «» . ( ) . . . 2«» 1« » ( ) ) .( – 3«» . 4«» . « » – «» 1. opportunity cost 2. benefit 3. profit 4. loss 16 « » -1 . «» «» ) .( . ) ( ) 1.( – . . .
Load more

Recommended publications
  • Política Industrial Y Crecimiento Económico En Colombia 1992-2012
    POLÍTICA INDUSTRIAL Y CRECIMIENTO ECONÓMICO EN COLOMBIA 1992-2012. Tesis presentada por Oscar Fernando González Alayón para obtener el grado de MAESTRO EN ECONOMÍA APLICADA Tijuana, B. C., México 2016 CONSTANCIA DE APROBACIÓN Director(a) de Tesis: _______________________________________________ Dra. Leticia Hernández Bielma Aprobada por el Jurado Examinador: 1. ___________________________________________ 2. ___________________________________________ 3. ___________________________________________ A mis padres Isabel y Juan, a mis hermanas Mónica y Diana, a mis sobrinos Juan Camilo y Matías, a Luisa y a toda mi familia, fueron mi motivación. AGRADECIMIENTOS Al Consejo Nacional de Ciencia y Tecnología (CONACYT), por la beca otorgada para la realización de mis estudios de maestría, a El Colegio de la Frontera Norte (El Colef) por su apoyo continuo y las atenciones recibidas durante la estancia en esta institución. Un agradecimiento especial a la Dra. Leticia Hernández Bielma, por su apoyo en la dirección de mi tesis, por sus observaciones, consejos y sugerencias. A todos los profesores e investigadores de la Maestría en Economía Aplicada por el conocimiento transmitido y la formación recibida. De igual forma agradezco a la Dirección General de Docencia por su apoyo, al Dr. Oscar Peláez Herreros quien desde la coordinación siempre estuvo dispuesto a brindarme su apoyo. A la Dra. Araceli Almaraz que fungió como lectora interna y aportó observaciones importantes al tema de investigación. Al Dr. Victor Manuel Cuevas Ahumada que participó como lector externo, gracias por su paciencia y observaciones en el manejo de la metodología y técnica de investigación. Por último, un agradecimiento a mis compañeros, colegas y amigos de la maestría por su acogida y por las jornadas de estudio compartidas.
    [Show full text]
  • Università Degli Studi Di Urbino Carlo Bo WHISTLEBLOWING GAME. UN
    Università degli studi di Urbino Carlo Bo Scienze di Base e Applicazioni Scienza della Complessità XXIX ciclo WHISTLEBLOWING GAME. UN APPROCCIO SPERIMENTALE ALLA LOTTA ALLA CORRUZIONE Settore Scientifico Disciplinare: M-FIL/02 Relatore Chiar.mo Prof.VINCENZO FANO Dottorando Dott. CALBOLI STEFANO Esame finale anno accademico 2015-2016 Whistleblowing Game. Un approccio sperimentale alla lotta alla corruzione Indice Introduzione..............................................................3 1. Il criterio di preferenza fra le teorie sul whistleblowing 1. Scienza positiva, scienza normativa e arte......................24 2. Friedman e la scatola misteriosa....................................27 3. Irreale come astrazione..................................................39 4. Irreale come sostituzione...............................................48 5. Il criterio di semplicità....................................................54 6. Potere predittivo come accuratezza predittiva...............59 7. Il criterio di preferenza di Friedman e l'attività del policy maker.................................................................................66 8. Realismo necessario: guardare sotto il cofano...............71 2. La decisione del whistleblower...........................83 1. La scelta del whistleblower in laboratorio: il Whistleblower Game.........................................................94 2. Gli assiomi e la predizione della teoria della scelta economica razionale.........................................................105 3. Violazioni
    [Show full text]
  • Intellectual History As Legal Analysis Yoram Margalioth
    Cornell Law Review Volume 96 Issue 4 May 2011 - Symposium: The Future of Legal Article 32 Theory Intellectual History as Legal Analysis Yoram Margalioth Follow this and additional works at: http://scholarship.law.cornell.edu/clr Part of the Law Commons Recommended Citation Yoram Margalioth, Intellectual History as Legal Analysis, 96 Cornell L. Rev. 1025 (2011) Available at: http://scholarship.law.cornell.edu/clr/vol96/iss4/32 This Article is brought to you for free and open access by the Journals at Scholarship@Cornell Law: A Digital Repository. It has been accepted for inclusion in Cornell Law Review by an authorized administrator of Scholarship@Cornell Law: A Digital Repository. For more information, please contact [email protected]. COMMENT INTELLECTUAL HISTORY AS LEGAL ANALYSIS Yoram Margaliotht The world's GDP per capita has grown significantly since World War II, but the distribution of wealth across countries has been ex- tremely unequal.' As William J. Baumol first noted, two clusters formed: one around wealth and one around poverty.2 The wealthy countries converged.3 While a number of developing countries, most notably China and India,4 also seem to be on the path to prosperity, other countries, home to more than one billion people, seem doomed to their poverty cluster.5 Economists have found that even after controlling for differences in resources, including physical and human capital, large differences in GDP per capita across countries remain.6 This has led them to think that the existence of differences in the quality of institutions across countries explains the persistent divergence in income per cap- ita.7 Their theory's main premise is that institutions influence the form and rate of technological progress, which is the engine of sus- tained economic growth, and shape the incentives of economic and political agents, which are the bread and butter of economics.
    [Show full text]
  • Bir Regülasyon Modeli Olarak “Kamusal Taşıyıcılık”
    T.C. Đstanbul Üniversitesi Sosyal Bilimler Enstitüsü Siyaset Bilimi ve Uluslar arası Đli şkiler Yüksek Lisans Tezi Bir Regülasyon Modeli Olarak “Kamusal Ta şıyıcılık” Mustafa Can Türe 2501080468 Tez Danı şmanı Doç. Dr. Levent Ürer Đstanbul 2011 Öz Çalı şmada, devletin yüzyıllardır vatanda şlarına “temel hizmetler” olarak sundu ğu kamu hizmetlerinin ve altyapı niteli ği ta şıyan yatırımların özel sermayeli şirketler tarafından sa ğlanması durumunda, bu i ş alanlarının devlet tarafından nasıl düzenlenece ği ara ştırılmı ş, bu konuda Amerika Birle şik Devletleri örne ği incelenmi ştir. Bir regülasyon modeli olarak Kamusal Ta şıyıcılık ele alınmı ş ve bu modelin çe şitli hukuksal kaynaklardaki tanımlarından yola çıkılarak, Kamusal Ta şıyıcılık’a dair genel ve kapsayıcı bir teorik çerçeveye ula şılmaya çalı şılmı ştır. Modelin tarihsel geli şimi ele alınarak, politik ve iktisadi geli şmelerle olan etkile şimi ortaya konulmu ştur. Modelin ortaya çıktı ğı alan olan ta şımacılık ve ula ştırmadaki kullanımı ve ileti şim ve telekomünikasyon sektöründeki uygulamaları ayrıntılı olarak incelenmi ş ve di ğer alanlarındaki kullanımlarından söz edilmi ştir. Modelin, Anglo-Amerikan literatürde şu ana kadar incelenmi ş olan hukuki ve iktisadi yönünden ziyade, sosyal ve siyasi yanları ele alınmı ştır. Bununla modelin toplumsal ve kalkınmaya yönelik ekonomi-politik bir araç niteli ği ta şıdı ğı gösterilmi ştir. Đzleyen bölümde, Kamusal Ta şıyıcılık regülasyonunun uygulamasını gerçekle ştiren ba ğımsız idari otoritelerin yapısı ve faaliyetleri ele alınarak, sonuç bölümünde kısaca üçünü dünya için sa ğlıklı Kamusal Ta şıyıcılık modelleri tartı şılmı ştır. iii Abstract In the thesis, regulation means of public services which state offers to its citizens since centuries as “essential services” and investments defined as infrastructure have been studied when these businesses are provided by private enterprises.
    [Show full text]
  • Universidade Federal Do Rio De Janeiro Instituto De Economia Programa De Pós-Graduação Em Políticas Públicas Estratégias E Desenvolvimento
    1 UNIVERSIDADE FEDERAL DO RIO DE JANEIRO INSTITUTO DE ECONOMIA PROGRAMA DE PÓS-GRADUAÇÃO EM POLÍTICAS PÚBLICAS ESTRATÉGIAS E DESENVOLVIMENTO A DIMENSÃO POLÍTICA DO DESENVOLVIMENTO DO MUNICÍPIO BRASILEIRO DE GOIÁS-GO (1937-2010) Marcello Rodrigues Siqueira Maria Lúcia Teixeira Werneck Vianna (Orientadora) RIO DE JANEIRO 2014 2 Marcello Rodrigues Siqueira A DIMENSÃO POLÍTICA DO DESENVOLVIMENTO DO MUNICÍPIO BRASILEIRO DE GOIÁS-GO (1937-2010) Tese apresentada ao Corpo Docente do Instituto de Economia da Universidade Federal do Rio de Janeiro como parte dos requisitos necessários à obtenção do título de Doutor em Políticas Públicas, Estratégias e Desenvolvimento. Orientadora: Maria Lúcia Teixeira Werneck Vianna RIO DE JANEIRO 2014 3 FICHA CATALOGRÁFICA S618 Siqueira, Marcello Rodrigues. A dimensão política do desenvolvimento do município brasileiro de Goiás-GO (1937-2010) / Marcello Rodrigues Siqueira. – 2014. 274 f.; 31 cm. Orientadora: Maria Lúcia Teixeira Werneck Vianna. Tese (Doutorado) – Universidade Federal do Rio de Janeiro, Instituto de Economia, Programa de Pós-Graduação em Políticas Públicas, Estratégias e Desenvolvimento, 2014. Referências: f. 225-243 1. Desenvolvimento territorial – Goiás-GO. 2. Capital social. 3. Gestão social. I. Vianna, Maria Lúcia Teixeira Werneck, orient. II. Universidade Federal do Rio de Janeiro. Instituto de Economia. III. Título. 4 5 Dedico este trabalho ao meu pai, Joel Rodrigues Siqueira (in memorian) e a minha mãe, Vanda de Oliveira Siqueira. 6 Agradeço a Deus por ter me dado saúde e sabedoria ao longo desta caminhada. Aos meus pais Joel Rodrigues Siqueira e Vanda de Oliveira Siqueira e irmãos Alexandre Rodrigues Siqueira e Inez Rodrigues Siqueira. Agradeço de forma especial a minha querida esposa Suzana Rodrigues Floresta, companheira inseparável de todas as lutas desde a época de graduação, e aos meus filhos Gabriell Rodrigues Floresta e Siqueira, Hellena Rodrigues Floresta e Siqueira e a Laisa Beatriz Siqueira (porque ela mesma se considera assim) por terem suportado a ausência do pai nestes dias de muito trabalho.
    [Show full text]
  • Short Thought About One Calendar
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Marek, Petr Article Short Thought about One Calendar European Financial and Accounting Journal Provided in Cooperation with: Faculty of Finance and Accounting, University of Economics, Prague Suggested Citation: Marek, Petr (2010) : Short Thought about One Calendar, European Financial and Accounting Journal, ISSN 1805-4846, University of Economics, Faculty of Finance and Accounting, Prague, Vol. 5, Iss. 1, pp. 4-5, http://dx.doi.org/10.18267/j.efaj.41 This Version is available at: http://hdl.handle.net/10419/109839 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Short Thought about One Calendar Dear readers, I would like to devote the preface to this year’s first issue of the European Financial and Accounting Journal to a short thought about one wall calendar.
    [Show full text]
  • A Képzett És a Képzetlen Munkaerô Közötti Helyettesítési Rugalmasság Becslése
    Bördôs Katalin Major Klára A képzett és a képzetlen munkaerô közötti helyettesítési rugalmasság becslése 2017. Január 1 A KÉPZETT ÉS A KÉPZETLEN MUNKAERÔ KÖZÖTTI HELYETTESÍTÉSI RUGALMASSÁG BECSLÉSE HÉTFA Mûhelytanulmányok 2016/15 Budapest ISSN 2062-378X Készítette: Bördôs Katalin, Major Klára Szerkesztõ: Major Klára HÉTFA Kutatóintézet és Elemzô Központ "A használható tudásért" H-1051 Budapest, Október 6. u. 19. IV/2. Telefon: +36 30 730 6668, Fax: +36 1 700 2257 E-mail: [email protected] www.hetfa.hu A Hétfa Mûhelytanulmányok sorozat megjelenését a Pallas Athéné Domus Animé Alapítvány támogatta. Grafikai tervezés: Parádi Kriszta 2 ABSZTRAKT A tanulmány célja a különbözô munkaerô-csoportok közötti helyettesítési rugalmasságok becslése és a tudás- tôke komplementaritás hipotézisének tesztelése a magyar gazdaság 2000-es éveiben. Ennek érdekében a 2003- 2011-es idôszakra becsültünk termelési függvényt Magyarországra, vállalati szintû longitudinális adatok segítsé- gével. Transzlog termelési függvényünkben három termelési tényezô, a képzett munkaerô, a képzetlen munkaerô és a tôke szerepelt; a képzett munkaerôt a szellemi munkakörökben foglalkoztatottak létszámával, a képzetlen munkaerôt pedig a fizikai foglalkozásúakkal közelítettük. A becsléseket a gazdaság egészére, illetve 14 ágazatra kü- lön-külön is lefuttattuk. Az Allen-Uzawa-féle parciális helyettesítési rugalmasságok kiszámításához szükséges para- métereket egyrészt a termelési függvény közvetlen becslésével (OLS, fix hatás, fix hatás instrumentum változóval), másrészt pedig a különbözô feltevések mentén levezetett költségarány-egyenletek révén (SUR) is megbecsültük; emellett bizonyos specifikációkat az állandó mérethozadék feltevésével és ezen korlátozás nélkül is megbecsültük. A képzett és a képzetlen munkaerô közti helyettesítési rugalmasságok becsült értékei eltérô értékeket mutatnak attól függôen, hogy melyik becslési eljárással becsültük a termelési függvény paramétereit; összességében azon- ban úgy tûnik, a kétféle munkaerô-csoport között erôs helyettesítési viszony áll fenn.
    [Show full text]
  • Public Choice - Wikipedia
    16.9.2020 Public choice - Wikipedia Public choice Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science".[1] Its content includes the study of political behavior. In political science, it is the subset of positive political theory that studies self-interested agents (voters, politicians, bureaucrats) and their interactions, which can be represented in a number of ways – using (for example) standard constrained utility maximization, game theory, or decision theory.[1] Public choice analysis has roots in positive analysis ("what is") but is often used for normative purposes ("what ought to be") in order to identify a problem or to suggest improvements to constitutional rules (i.e., constitutional economics).[1][2][3] Public choice theory is also closely related to social choice theory, a mathematical approach to aggregation of individual interests, welfares, or votes.[4] Much early work had aspects of both, and both fields use the tools of economics and game theory. Since voter behavior influences the behavior of public officials, public-choice theory often uses results from social-choice theory. General treatments of public choice may also be classified under public economics.[5] Contents Background and development Decision-making processes and the state Bureaucracy "Expressive interests" and democratic irrationality Special interests Rent-seeking Political stance Recognition Limitations and critiques See also References Bibliography Further reading Background and development
    [Show full text]
  • IV Semester BAE-4.1 International Economics Module 1
    IV Semester BAE-4.1 International Economics Module 1: Introduction and Theories of International Trade. Meaning and importance of International Economics International economics refers to a study of international forces that influence the domestic conditions of an economy and shape the economic relationship between countries. In other words, it studies the economic interdependence between countries and its effects on economy. International trade studies goods-and-services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas. The scope of international economics is wide as it includes various concepts, such as globalization, gains from trade, pattern of trade, balance of payments, and FDI. Apart from this, international economics describes production, trade, and investment between countries. International economics has emerged as one of the most essential concepts for countries. Over the years, the field of international economics has developed drastically with various theoretical, empirical, and descriptive contributions. Generally, the economic activities between nations differ from activities within nations. For example, the factors of production are less mobile between countries due to various restrictions imposed by governments. The impact of various government restrictions on production, trade, consumption, and distribution of income are covered in the study of internal economics. Thus, it is important to study the international economics as a special field of economics. Difference between International Trade and Internal Trade There are, however, a number of things which make a difference between foreign trade and domestic trade and necessitate a separate theory of international trade. They are as under: (i) Immobility of Factors of Production: Labour and capital do not move freely from one country to another as they do within the same country.
    [Show full text]
  • Download International Business
    International Business ††††† Jitendra K. Gajera (M.A., M.Phil) & Dinesh R. Chavda (M.Com, M.Phil, G-slet) ☆ II ARTICLE BY Jitendra K. Gajera & Dinesh R. Chavda © Kinjal J. Gajera First edition: 2013 Prize: 150 Copy: 500 Type & Setting: Dinesh R. Chavda At. - Kerala, Ta-Dist Junagadh Pin: 362310 ISBN: 978-81-925441-8-2 Publisor: Jitendra K. Gajera, At. - Makhiyala, Ta - Dist Junagadh Pin: 362014 Printed by: Vaibhav Printing Press – Makhiyala III Dedication “Supreme sacred respected father and my mother stages” IV PREFACE The overarching logic of the book is intuitive organized around answers to the what, where, why, and how of international business. WHAT ? Section one introduces what is international business and who has an interest in it. Students will sift through the globalization debate and understanding the impact of ethics on global businesses. Additionally, students will explore the evolution of international trade from past to present, with a focus on how firms and professionals can better understand today’s complex global business arena by understanding the impact of political and legal factors. The section concludes with a chapter on understanding how cultures are defined and the impact on business interactions and practices with tangible tips for negotiating across cultures. WHERE ? Section two develops student knowledge about key facets of the global business environment and the key elements of trade and cooperation between nations and global organizations. Today, with increasing numbers of companies of all sizes operating internationally, no business or country can remain an island. Rather, the interconnections between countries, businesses, and institutions are inextricable. Even how we define the world is changing.
    [Show full text]
  • Os Burocratas Das Organizações Financeiras Internacionais
    Os burocratas das organizações financeiras internacionais Um estudo comparado entre o Banco Mundial e o FMI O poder dos burocratas_Falsa e folha.indd 1 19/03/2012 14:13:37 Os burocratas.indd 2 16/03/2012 16:32:41 Os burocratas das organizações financeiras internacionais Um estudo comparado entre o Banco Mundial e o FMI FELICIANO DE SÁ GUIMARÃES O poder dos burocratas_Falsa e folha2.indd 2 19/03/2012 17:00:56 Copyright © 2012 Feliciano de Sá Guimarães, alguns direitos reservados Esta obra é licenciada por uma Licença Creative Commons Atribuição — Uso Não Comercial — Compartilhamento pela mesma Licença, 2.5 Brasil. “Você pode usar, copiar, compartilhar, distribuir e modificar esta obra, sob as seguintes condições: 1. Você deve dar crédito aos autores originais, da forma especificada pelos autores ou licenciante. 2. Você não pode utilizar esta obra com finalidades comerciais. 3. Se você alterar, transformar, ou criar outra obra com base nesta, você somente poderá distri- buir a obra resultante sob uma licença idêntica a esta. 4. Qualquer outro uso, cópia, distribuição ou alteração desta obra que não obedeça os termos previstos nesta licença constituirá infração aos direitos autorais, passível de punição na esfera civil e criminal.” Os termos desta licença também estão disponíveis em: <http://creativecommons.org/licenses/ by-nc-sa/2.5/br/> Direitos desta edição reservados à EDITORA FGV, conforme ressalva da licença Creative Commons aqui utilizada: Rua Jornalista Orlando Dantas, 37 22231-010 | Rio de Janeiro, RJ | Brasil Tels.: 0800-021-7777 | 21-3799-4427 Fax: 21-3799-4430 [email protected] | [email protected] www.fgv.br/editora Impresso no Brasil | Printed in Brazil Os conceitos emitidos neste livro são de inteira responsabilidade do autor.
    [Show full text]
  • Signalling Credibility? the IMF and Catalytic Finance Martin S
    Signalling credibility? The IMF and catalytic finance Martin S. Edwards Department of Political Science, Texas Tech University, 17 Holden Hall, Lubbock, TX 79409-1015, USA. E-mail: [email protected] International Monetary Fund (IMF) programmes are thought to function as a seal of approval to international markets although evidence suggests that Fund programmes do not attract capital inflows. Existing studies fail to address the effects of selection into IMF programmes, which raises questions about the robustness of the findings. Correcting for selection bias, I find that states under Fund programmes experience significant outflows of portfolio investment, which is a ‘most likely case’ for catalytic effects. The source of this capital flight is the ‘medicine’ (the Fund programme), not the ‘disease’ (the economic downturn necessitating the IMF programme). I argue that austerity deters portfolio inflows through its effects on future returns. These findings confirm previous studies and have broader implications for both the influence of IMF programmes and the politics of economic reform. Journal of International Relations and Development (2006) 9, 27–52. doi:10.1057/palgrave.jird.1800079 Keywords: capital flight; catalytic finance; IMF; portfolio investment Apart from its financial value, this accord is a passport allowing Romania to return to the international markets (Romanian Prime Minister Radu Vasile, 9 August, 1999).1 International Financial Institutions (IFI) have been at the centre of public debate in recent years. In the policy community, the effects of International Monetary Fund (IMF) policies on developing countries have received close attention. Whether the focus is on the unintended consequences of Fund programmes and the danger of moral hazard (Calomiris and Meltzer 1998; International Financial Institutions Advisory Commission 2000) or the distributional consequences of Fund programmes (Pastor 1987; Danaher 1994; Thomas-Emeagwali 1995; Garuda 2000; Vreeland 2002), the increased scrutiny of IMF operations is the norm.
    [Show full text]