Living with debt : how to limit the risks of sovereign finance / Eduardo Borensztein ... [et al.].

Format:

Book

Government document

Contributor:

Borensztein, Eduardo.

Series:

Inter-American Development Bank. Economic and social progress in Latin America ; 2007 report.

Economic and social progress in Latin America, 0095-2850 ; 2007 report

Language:

English

Subjects (All):

Debts, External--Latin America.

Debts, External.

Finance, Public--Latin America.

Finance, Public.

Physical Description:

xiii, 326 p. : col. ill.

Place of Publication:

Washington, DC : Inter-American Development Bank, 2006.

Language Note:

English

Summary:

Living with Debt focuses on how to manage sovereign debt safely and effectively. The report traces the history of sovereign borrowing in Latin America, releases a new data set on public debt, and analyzes the evolution of debt, highlighting the recent trend toward higher levels of domestic debt and lower external borrowing. The report also includes a detailed study of the costs of sovereign defaults such as those that have affected some Latin American countries in recent years. Drawing from in-depth country studies, the report notes the development of domestic debt markets, which have the potential to increase the availability of finance for the private sector and enhance financial markets' stability more generally. However, the report concludes that safely managing domestic debt presents somewhat different--but not necessarily simpler--challenges. In particular, the broader range of debt instruments interacts with the variety of shocks to which economies are exposed, requiring a more comprehensive approach to debt sustainability analysis, which the report outlines.

Contents:

Intro

CONTENTS

PREFACE

Acknowledgments

Executive summary

I. Stylized facts

Chapter 1 Introduction

Chapter 2 Public Debt in Latin America and around the World

Chapter 3 How Does Debt Grow?

II. International borrowing

Chapter 4 History of Sovereign Debt in Latin America

Chapter 5 The International Emerging Bond Market Today

Chapter 6 The Role of Multilateral Lending

III. The domestic market

Chapter 7 The Dawn of the Domestic Bond Market

Chapter 8 Institutional Investors and the Domestic Debt Market

IV. debt and the economy

Chapter 9 The Political Economy of Debt

Chapter 10 Debt and Development

Chapter 11 Fiscal Sustainability in Latin America: Old and New Approaches

Chapter 12 The Costs of Default

V. Toward Safer debt

Chapter 13 The Risks of Sovereign Finance

Chapter 14 Lowering the Risks of Sovereign Finance

Appendix Public Debt in Latin America and the Caribbean: Country Profiles

References.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references (p. [305]-326).

OCLC:

230205511