IDEAS home Printed from https://ideas.repec.org/p/avg/wpaper/fr11708.html
   My bibliography  Save this paper

Contrôles et équilibres, leadership politique et autonomie bureaucratique : Constats au sujet des banques nationales de développement

Author

Listed:
  • Beichen HUANG
  • Tianyang XI
  • Jiajun XU

Abstract

Selon une opinion répandue depuis longtemps dans l'économie politique de la bureaucratie, la qualité de la gouvernance politique est le fondement des agences de développement de grande qualité. Cependant, la littérature existante ne rend pas compte de la manière dont le leadership politique façonne la capacité des agences de développement. Motivé par le décalage entre les institutions politiques formelles et la grande variation de la gouvernance bureaucratique dans la réalité, ce rapport soutient que la structure et la capacité de gouvernance des agences de développement dépendent de manière cruciale de l'interaction entre les contraintes institutionnelles formelles ancrées dans le système politique, et la force du leadership politique. Plus précisément, ni les contraintes institutionnelles ni un leadership fort ne garantissent à eux seuls un degré suffisant d'autonomie bureaucratique pour les agences de développement. Sans un leadership fort, les contrôles et l'équilibre institutionnels peuvent donner lieu à un nombre excessif de points de veto dans l'élaboration des politiques et miner l'autonomie bureaucratique. En l'absence d'un équilibre institutionnel approprié, l'autonomie et la capacité des agences de développement ont tendance à être compromises par le risque moral d'un leadership fort. Notre argument théorique prédit donc que les agences de développement font preuve d'une autonomie et d'une capacité fortes en présence à la fois d'un leadership fort et de contraintes institutionnelles. Nous utilisons un ensemble de données transnationales sur les banques nationales de développement pour tester cette théorie. Les résultats de la régression et les études de cas confirment cette théorie.Ce papier de recherche est publié dans le cadre des groupes de travail de l'International Research Initiative on Public Development Banks, et à l'occasion de la 14ème conférence internationale de recherche de l’AFD sur le développement.Réaliser le potentiel des banques publiques de développement pour atteindre les objectifs de développement durable, c’est l’ambition du programme de recherche lancé par l'Institut de la nouvelle économie structurelle de l'université de Pékin (INSE), et soutenu par l’Agence française de développement, la Fondation Ford et l’International Development Finance Club (IDFC).Consulter la synthèse pour un aperçu rapide de ce travail et des résultats de rechercheVisionner le pitch vidéo

Suggested Citation

  • Beichen HUANG & Tianyang XI & Jiajun XU, 2020. "Contrôles et équilibres, leadership politique et autonomie bureaucratique : Constats au sujet des banques nationales de développement," Working Paper 6fb72d50-b8e9-40a3-9021-8, Agence française de développement.
  • Handle: RePEc:avg:wpaper:fr11708
    as

    Download full text from publisher

    File URL: https://www.afd.fr/sites/afd/files/2020-11-12-25-57/political-leadership-bureaucratic-autonomy-national-development-banks.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lohmann, Susanne, 1997. "Partisan control of the money supply and decentralized appointment powers," European Journal of Political Economy, Elsevier, vol. 13(2), pages 225-246, May.
    2. Hallerberg, Mark, 2002. "Veto Players and the Choice of Monetary Institutions," International Organization, Cambridge University Press, vol. 56(4), pages 775-802, October.
    3. Teodoro, Manuel P. & Pitcher, M. Anne, 2017. "Contingent technocracy: bureaucratic independence in developing countries," Journal of Public Policy, Cambridge University Press, vol. 37(4), pages 401-429, December.
    4. Witold J. Henisz, 2002. "The institutional environment for infrastructure investment," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(2), pages 355-389.
    5. Dreher, Axel & Lamla, Michael J. & Lein, Sarah M. & Somogyi, Frank, 2009. "The impact of political leaders' profession and education on reforms," Journal of Comparative Economics, Elsevier, vol. 37(1), pages 169-193, March.
    6. Alberto Alesina & Nouriel Roubini & Gerald D. Cohen, 1997. "Political Cycles and the Macroeconomy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510944, April.
    7. Daron Acemoglu & James A. Robinson & Ragnar Torvik, 2013. "Why Do Voters Dismantle Checks and Balances?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(3), pages 845-875.
    8. Ragnar Torvik & Daron Acemoglu & James A. Robinson, 2013. "Why Do Voters Dismantle Checks and Balances? Extensions and Robustness," Working Paper Series 14013, Department of Economics, Norwegian University of Science and Technology.
    9. Li, Jingheng & Xi, Tianyang & Yao, Yang, 2020. "Empowering knowledge: Political leaders, education, and economic liberalization," European Journal of Political Economy, Elsevier, vol. 61(C).
    10. Bernhard, William, 1998. "A Political Explanation of Variations in Central Bank Independence," American Political Science Review, Cambridge University Press, vol. 92(2), pages 311-327, June.
    11. Cukierman, Alex & Webb, Steven B & Neyapti, Bilin, 1992. "Measuring the Independence of Central Banks and Its Effect on Policy Outcomes," The World Bank Economic Review, World Bank, vol. 6(3), pages 353-398, September.
    12. Abel E. Ezeoha, 2007. "Industrial Development Banking in Nigeria: A Forty Year Failed Experiment," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 10(3), pages 193-208.
    13. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, September.
    14. Yonatan Lupu, 2015. "Legislative Veto Players and the Effects of International Human Rights Agreements," American Journal of Political Science, John Wiley & Sons, vol. 59(3), pages 578-594, July.
    15. Horowitz, Michael C. & Stam, Allan C., 2014. "How Prior Military Experience Influences the Future Militarized Behavior of Leaders," International Organization, Cambridge University Press, vol. 68(3), pages 527-559, July.
    16. Eijffinger, S. & De Hann, J., 1995. "The Political Economy of Central Bank Independence," Papers 9587, Tilburg - Center for Economic Research.
    17. Keefer, Philip & Stasavage, David, 2003. "The Limits of Delegation: Veto Players, Central Bank Independence, and the Credibility of Monetary Policy," American Political Science Review, Cambridge University Press, vol. 97(3), pages 407-423, August.
    18. Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
    19. Daniel Carvalho, 2014. "The Real Effects of Government-Owned Banks: Evidence from an Emerging Market," Journal of Finance, American Finance Association, vol. 69(2), pages 577-609, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:avg:wpaper:en11708 is not listed on IDEAS
    2. Joon Hyeok Lee, 2024. "Consecutive decentralization: The effect of central bank independence on capital account liberalization," Economics and Politics, Wiley Blackwell, vol. 36(2), pages 809-831, July.
    3. Masciandaro, Donato & Romelli, Davide, 2015. "Ups and downs of central bank independence from the Great Inflation to the Great Recession: theory, institutions and empirics," Financial History Review, Cambridge University Press, vol. 22(3), pages 259-289, December.
    4. de Haan, J. & Eijffinger, Sylvester, 2016. "The Politics of Central Bank Independence," Other publications TiSEM 54f2c3e3-46f2-4763-b1ac-b, Tilburg University, School of Economics and Management.
    5. Bodea, Cristina & Hicks, Raymond, 2015. "Price Stability and Central Bank Independence: Discipline, Credibility, and Democratic Institutions," International Organization, Cambridge University Press, vol. 69(1), pages 35-61, January.
    6. de Haan, J. & Eijffinger, Sylvester, 2016. "The Politics of Central Bank Independence," Discussion Paper 2016-047, Tilburg University, Center for Economic Research.
    7. Donato Masciandaro & Davide Romelli, 2018. "To Be or not to Be a Euro Country? The Behavioural Political Economics of Currency Unions," BAFFI CAREFIN Working Papers 1883, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    8. Kern, Andreas & Reinsberg, Bernhard & Rau-Göhring, Matthias, 2019. "IMF conditionality and central bank independence," European Journal of Political Economy, Elsevier, vol. 59(C), pages 212-229.
    9. Masciandaro, Donato, 2022. "Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)," Journal of International Money and Finance, Elsevier, vol. 122(C).
    10. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy and Psychology," World Scientific Book Chapters, in: Behavioral Finance The Coming of Age, chapter 9, pages 285-329, World Scientific Publishing Co. Pte. Ltd..
    11. Cristina Bodea, 2014. "Fixed exchange rates, independent central banks and price stability in postcommunist countries: Conservatism and credibility," Economics and Politics, Wiley Blackwell, vol. 26(2), pages 185-211, July.
    12. Kwabi, Frank O. & Boateng, Agyenim & Du, Min, 2020. "Impact of central bank independence and transparency on international equity portfolio allocation: A cross-country analysis," International Review of Financial Analysis, Elsevier, vol. 69(C).
    13. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    14. Betz, Timm & Pond, Amy, 2023. "Democratic institutions and regulatory privileges for government debt," European Journal of Political Economy, Elsevier, vol. 79(C).
    15. Manuela Moschella & Luca Pinto, 2022. "The multi‐agencies dilemma of delegation: Why do policymakers choose one or multiple agencies for financial regulation?," Regulation & Governance, John Wiley & Sons, vol. 16(4), pages 1250-1264, October.
    16. Bodea, Cristina & Higashijima, Masaaki, 2017. "Central Bank Independence and Fiscal Policy: Can the Central Bank Restrain Deficit Spending?," British Journal of Political Science, Cambridge University Press, vol. 47(1), pages 47-70, January.
    17. Andrea Sáenz de Viteri Vázquez & Christian Bjørnskov, 2020. "Constitutional power concentration and corruption: evidence from Latin America and the Caribbean," Constitutional Political Economy, Springer, vol. 31(4), pages 509-536, December.
    18. Crowe, Christopher & Meade, Ellen E., 2008. "Central bank independence and transparency: Evolution and effectiveness," European Journal of Political Economy, Elsevier, vol. 24(4), pages 763-777, December.
    19. MARTÍNEZ-RUIZ, Elena & NOGUES-MARCO, Pilar, 2018. "The Political Economy of Exchange Rate Stability During the Gold Standard. Spain 1874—1914," Discussion paper series HIAS-E-75, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    20. CHOI, Jay Pil & FURUSAWA, Taiji, 2018. "Transfer Pricing and the Arm's Length Principle under Imperfect Competition," Discussion paper series HIAS-E-73, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    21. Alpanda, Sami & Honig, Adam, 2010. "Political monetary cycles and a de facto ranking of central bank independence," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 1003-1023, October.

    More about this item

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:avg:wpaper:fr11708. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AFD (email available below). General contact details of provider: https://edirc.repec.org/data/afdgvfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.