Country insurance : the role of domestic policies /
Torbjörn Becker...[et. al.]
- Washington, DC : International Monetary Fund, 2007
- v, 36 p. : ill. (some col.) ; 28 cm.
- Occasional paper ; 254 .
- Occasional paper (International Monetary Fund) ; no. 254. .
Includes bibliographical references (p. 32-34).
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.
"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
9781589066076 1589066073
2007297568
Balance of payments--Developing countries. Ödemeler dengesi--Gelişmekte olan ülkeler.