Policy Mix Public Debt Management and Fiscal Rules is popular PDF and ePub book, written by Santiago Herrera in 2005, it is a fantastic choice for those who relish reading online the Debts, Public genre. Let's immerse ourselves in this engaging Debts, Public book by exploring the summary and details provided below. Remember, Policy Mix Public Debt Management and Fiscal Rules can be Read Online from any device for your convenience.
Policy Mix Public Debt Management and Fiscal Rules Book PDF Summary
Abstract: "Despite significant progress in economic reform throughout the 1990s and an exemplary development of the policymaking framework in the second part of the decade, Brazil suffered a major public debt and currency crisis in 2002. Though the political origin of the uncertainty cannot be ignored, Herrera identifies other sources of uncertainty emanating from the policymaking framework: fiscal policy was not responsive to the shocks, public debt instruments were used with several objectives (to stabilize the currency and to lengthen maturity) and there was inadequate supervision of agents holding public debt. Most of the flaws have been fixed following the crisis: * The primary fiscal balance has been increased, sending the signal that it is a flexible instrument that will be used to ensure commitment of the sovereign to honor its obligations. * The central bank formally transferred to the Treasury the remaining debt-issuance functions, facilitating a more adequate balancing of different risks involved in debt management. * Mutual funds' public debt holdings are better regulated, ensuring that end-investors have the proper information to assess the risk of the institutions in which they invest. This paper--a product of the Economic Policy Division, Poverty Reduction and Economic Management Network--is part of a larger effort in the network to disseminate country experiences in the design of policymaking frameworks that facilitate adjustment of the economy to external shocks"--World Bank web site.
Detail Book of Policy Mix Public Debt Management and Fiscal Rules PDF
- Author : Santiago Herrera
- Release : 27 September 2024
- Publisher : World Bank Publications
- ISBN : 978186723xxxx
- Genre : Debts, Public
- Total Page : 33 pages
- Language : English
- PDF File Size : 19,6 Mb
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