Author: Yongseok Shin
Publisher: International Monetary Fund
Published: 2003-06-01
Total Pages: 48
ISBN-13: 1451855400
DOWNLOAD EBOOK →This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.
Author: Yongseok Shin
Publisher: International Monetary Fund
Published: 2003-06-01
Total Pages: 48
ISBN-13: 1451900651
DOWNLOAD EBOOK →This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.
Author: Mr.J. D. Craig
Publisher: International Monetary Fund
Published: 1998-02-03
Total Pages: 50
ISBN-13: 155775697X
DOWNLOAD EBOOK →Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Author: Mr.Bernardin Akitoby
Publisher: International Monetary Fund
Published: 2020-05-11
Total Pages: 66
ISBN-13: 1513532839
DOWNLOAD EBOOK →This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 1998-09-01
Total Pages: 26
ISBN-13: 9781557756909
DOWNLOAD EBOOK →Good governance is important for countries at all stages of development... Our approach is to concentrate on those aspects of good governance that are most closely related to our surveillance over macroeconomic policies- namely, the transparency of government accounts, the effectiveness of public resource management, and the stability and transparency of the economic and regulatory environment for privalte sector activity. Michael Camdessus, IMF Managing Director
Author: Ann Florini
Publisher: Columbia University Press
Published: 2007
Total Pages: 378
ISBN-13: 0231141580
DOWNLOAD EBOOK →The Right to Know is a timely and compelling consideration of a vital question: What information should governments and other powerful organizations disclose? Excessive secrecy corrodes democracy, facilitates corruption, and undermines good public policymaking, but keeping a lid on military strategies, personal data, and trade secrets is crucial to the protection of the public interest. Over the past several years, transparency has swept the world. India and South Africa have adopted groundbreaking national freedom of information laws. China is on the verge of promulgating new openness regulations that build on the successful experiments of such major municipalities as Shanghai. From Asia to Africa to Europe to Latin America, countries are struggling to overcome entrenched secrecy and establish effective disclosure policies. More than seventy now have or are developing major disclosure policies or laws. But most of the world's nearly 200 nations do not have coherent disclosure laws; implementation of existing rules often proves difficult; and there is no consensus about what disclosure standards should apply to the increasingly powerful private sector. As governments and corporations battle with citizens and one another over the growing demand to submit their secrets to public scrutiny, they need new insights into whether, how, and when greater openness can serve the public interest, and how to bring about beneficial forms of greater disclosure. The Right to Know distills the lessons of many nations' often bitter experience and provides careful analysis of transparency's impact on governance, business regulation, environmental protection, and national security. Its powerful lessons make it a critical companion for policymakers, executives, and activists, as well as students and scholars seeking a better understanding of how to make information policy serve the public interest.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2014-06-30
Total Pages: 44
ISBN-13: 1498343155
DOWNLOAD EBOOK →The framework guiding the IMF’s communications—established by the Executive Board in 2007—has enabled the institution to respond flexibly to the changing global context. The framework is based on four guiding principles: (i) deepening understanding and support for the Fund’s role and policies; (ii) better integrating communications into the IMF’s daily operations; (iii) raising the impact of new communications materials and technologies; and (iv) rebalancing outreach efforts to take account of different audiences. In addition, greater emphasis has been placed on strengthening internal communications to help ensure institutional coherence in the Fund’s outreach activities. Continued efforts are needed to strengthen communications going forward. Several issues deserve particular attention. First, taking further steps to ensure clarity and consistency in communication in a world where demand for Fund services continues to rise. Second, doing more to assess the impact of IMF communications and thus better inform efforts going forward. Third, engaging strategically and prudently with new media—including social media.
Author: Andrea Bianchi
Publisher: Cambridge University Press
Published: 2013-11-07
Total Pages: 641
ISBN-13: 1107470242
DOWNLOAD EBOOK →While its importance in domestic law has long been acknowledged, transparency has until now remained largely unexplored in international law. This study of transparency issues in key areas such as international economic law, environmental law, human rights law and humanitarian law brings together new and important insights on this pressing issue. Contributors explore the framing and content of transparency in their respective fields with regard to proceedings, institutions, law-making processes and legal culture, and a selection of cross-cutting essays completes the study by examining transparency in international law-making and adjudication.
Author: International Monetary Fund. Fiscal Affairs Department
Publisher: International Monetary Fund
Published: 2007-10-19
Total Pages: 82
ISBN-13:
DOWNLOAD EBOOK →This publication applies the principles of the revised IMF Code of Good Practices on Fiscal Transparency to the unique set of transparency problems faced by countries that derive a significant share of their revenues from natural resources and need to address complex and volatile transaction flows. The guide identifies and explains generally recognized good or best practices for transparency of resource revenue management. It supplements the IMF Manual on Fiscal Transparency. It is designed to give a framework for assessing resource-specific issues within broader fiscal transparency assessments (including so-called 'fiscal ROSCs').--Publisher's description.