Item Details

Country Insurance: The Role of Domestic Politics

Torbjörn Becker...[et. al.]
Format
Book; Government Document
Published
Washington, DC : International Monetary Fund, 2007
Language
English
Series
Occasional Paper
Occasional Paper (International Monetary Fund)
ISBN
9781589066076, 1589066073
Summary
"Countries face a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises. The presence of such risks underlies a potential demand for mechanism to soften the blow from adverse economic shocks. Such a protective infrastructure is referred to in this paper as "country insurance." Protective measures that countries can take themselves ("self-insurance") include sound economic policies, robust financial structures, and adequate reserve coverage. Beyond self-insurance, countries have also established regional arrangements that pool risks while, at the multilateral level, the IMF plays a central role through the temporary provision of its resources when shocks create balance of payments difficulties for a member, and through the policy advice it provides under surveillance. The Occasional paper focuses on what countries can do on their own -- that is, on the role of domestic policies -- with respect to country insurance."--Preface
Contents
  • Introduction
  • Insurance against what? : shocks and their costs
  • Sound fundamentals and liability structures
  • Self-insurance through international reserves
  • Conclusion
  • Appendex I. Data sources and definitions
  • Appendix II. Behavior of different types of financial flow
  • Appendix III. A model of optimal reserves.
Description
v, 36 p. : ill. ; 28 cm.
Notes
Includes bibliographical references (p. 32-34).
Series Statement
Occasional paper ; 254
Occasional paper (International Monetary Fund) ; 254
Technical Details
  • Access in Virgo Classic

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