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Explain the open method of coordination
There are at least five levels at which coordination can occur such as, - international, regional, national, sub-national and sectoral and three levels of content and intensity. The 'content' of coordination includes broad policy objectives, embracing both principles and priorities; formal procedures, i.e. institutional rules and regulations and informal practices. The three degrees of 'intensity' range from 'consultation', with information sharing, through 'co-operation', where discussion takes place in order to identify areas in which harmonisation is possible, to "collaboration" where there is shared implementation of common policies. The question to be addressed here is how far the Open Method of Coordination (OMC) can contribute to increasing the intensity of policy coordination across all three aspects of 'content' - from policy convergence to informal practices in the country Delegations.
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what kind of thing should an analyst keep in mind when evaluating financial statements?
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