In this paper we suggest that the dual role played by the IMF, as a creditor and as a monitor of economic reforms, might explain the lack of credibility of the Fund threat of sanctioning non-compliance with conditionality. Specifically,we show that the IMF desire to preserve its reputation as a...

Ex-post evaluation of infrastructure projects is attempted by international and national organisations in different ways. Qualitative case studies, relying on documentary analysis, interviews and surveys, are regularly carried out, for example, by the European Commission, the World Bank, the...

This paper discusses some conditions under which the Cohesion Policy of the European Union can effectively contribute to enhance R&I in Europe and the extent to which it offers a relevant framework for devising Research & Innovation policies at regional level overcoming possible tensions and...

This paper illustrates the story of the Port of Gioia Tauro, a major infrastructure investment co-financed by the European Regional Development Fund in the period 1994-1998, but whose origin dates back to the beginning of the 1970s. It draws from a recent ex-post evaluation carried out for the...

This paper illustrates the story of the Port of Gioia Tauro, a major infrastructure investment co-financed by the European Regional Development Fund in the period 1994-1998, but whose origin dates back to the beginning of the 1970s. It draws from a recent ex-post evaluation carried out for the...

We estimate the impact on economic growth of the joint participation in both IMF and WB programs. More specifically, using panel data for 128 developing countries over the period 1982-2005, and employing 2SLS to control for the possible endogeneity of participation in an IMF/WB program, we find...

Discounting enables to express future monetary or socio-economic effects in terms of present values when inter-temporal decisions are to be taken. In the context of the cost-benefit analysis, this allows for directly comparing net benefits expressed in terms of their net present values, and,...

This paper explores the role of information transmission and misaligned interests across levels of government in explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal-agent framework, it analyzes two alternative...