Impact of macroeconomic, political, and institutional factors on the structure of government debt in emerging market countries /

Debt crises that have shaken Latin America, Asia, and Russia have brought an increasing attention to the structure of debt in emerging market countries. Using the newly released Jeanne-Guscina EM Government Debt Database 2006 this paper empirically explores the role of macroeconomic, political, and...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Guscina, Anastasia (Autor)
Autor Corporativo: IMF Institute
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, ©2008.
Colección:IMF working paper ; WP/08/205.
Temas:
Debts, Public > Developing countries > Econometric models.
Fiscal policy > Developing countries > Econometric models.
Dettes publiques > Nouveaux pays industrialisés > Modèles économétriques.
Politique fiscale > Nouveaux pays industrialisés > Modèles économétriques.
Debts, Public > Econometric models
Economic history
Fiscal policy > Econometric models
Politics and government
Öffentliche Schulden.
Debt Management.
Aufstrebende Märkte.
Developing countries > Economic conditions > Econometric models.
Developing countries > Politics and government.
Nouveaux pays industrialisés > Conditions économiques > Modèles économétriques.
Nouveaux pays industrialisés > Politique et gouvernement.
Developing countries
Acceso en línea:Texto completo
Descripción
Sumario:Debt crises that have shaken Latin America, Asia, and Russia have brought an increasing attention to the structure of debt in emerging market countries. Using the newly released Jeanne-Guscina EM Government Debt Database 2006 this paper empirically explores the role of macroeconomic, political, and institutional factors in determining the structure of government debt. Results show that unstable macroeconomic environment, poor quality institutions, and uncertain political climate hinder the development of domestic debt market. Moreover, such instability shifts the debt structure away from long-term local currency fixed rate debt towards short-term debt or to debt indexed to foreign currency, short-term interest rates or inflation. Original sin seems to be on the way out, as more and more countries are issuing local currency debt at longer maturities--which can be explained by successful macroeconomic stabilization policies and lessons learned from the debt crises.
Notas:At head of title: IMF Institute.
"August 2008."
Descripción Física:1 online resource (43 pages)
Bibliografía:Includes bibliographical references (pages 41-43).
ISBN:1451915160
9781451915167

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