Publication: Room for discretion? Biased decision-making in international financial institutions
Room for discretion? Biased decision-making in international financial institutions
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Lang, V. F., & Presbitero, A. F. (2018). Room for discretion? Biased decision-making in international financial institutions. Journal of Development Economics, 130, 1–16. https://doi.org/10.1016/j.jdeveco.2017.09.001
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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 tha
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- Lang, Valentin F
- Presbitero, Andrea F
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Lang, V. F., & Presbitero, A. F. (2018). Room for discretion? Biased decision-making in international financial institutions. Journal of Development Economics, 130, 1–16. https://doi.org/10.1016/j.jdeveco.2017.09.001
