Towards a Market Economy Structures of Governance

This paper proposes an operational interpretation of the concept of economic governance. It argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated. Such an environment—which is essential for s...

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Bibliographic Details
Main Author: Dhonte, Pierre
Other Authors: Kapur, Ishan
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Towards a Market Economy  |b Structures of Governance  |c Pierre Dhonte, Ishan Kapur 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1997 
300 |a 16 pages 
651 4 |a United States 
653 |a Environmental Economics: General 
653 |a Environmental Economics 
653 |a Securities 
653 |a Environmental economics 
653 |a Financial institutions 
653 |a Environment 
653 |a Policy Designs and Consistency 
653 |a Structure, Scope, and Performance of Government 
653 |a Crime 
653 |a Bureaucracy 
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653 |a Administrative Processes in Public Organizations 
653 |a Positive Analysis of Policy-Making and Implementation 
653 |a Corruption 
653 |a Criminology 
653 |a Policy Objectives 
653 |a Policy Coordination 
653 |a Financial instruments 
653 |a Investments: General 
653 |a Corporate crime; white-collar crime 
653 |a Investment & securities 
700 1 |a Kapur, Ishan 
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520 |a This paper proposes an operational interpretation of the concept of economic governance. It argues that the capacity of governments to credibly ensure a secure economic environment provides an important benchmark against which governance can be evaluated. Such an environment—which is essential for sustained growth in a market economy—can be established through a rules–based system which ensures freedom of entry into the market, access to information, and sanctity of contracts. Since creating a secure economic environment involves profound, far–reaching social change, it has historically been a complex and lengthy process in most societies. However, basing policy prescriptions on this benchmark helps avoid possible conflicts between different social and moral values