Public debt sustainability

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(84/2004)
cepal.docTypeRevistas
cepal.idSade22343
cepal.topicEngFISCAL AFFAIRS
cepal.topicSpaASUNTOS FISCALES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorMartner Fanta, Ricardo
dc.contributor.authorTromben, Varinia
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2014-01-02T18:43:53Z
dc.date.available2014-01-02T18:43:53Z
dc.date.issued2004-12
dc.descriptionIncludes bibliography
dc.description.abstract Although in Latin America public debt-to-GDP ratios continue to be generally lower than in other emerging countries, it has nevertheless not been possible to avoid liquidity problems, which some authors attribute to the low level and high volatility of public revenue, the weakness of domestic financial systems, and the mediocre quality of fiscal institutions. This article also emphasizes some exogenous factors, however. The combination of low economic growth rates and devaluations in a context of dollarized liabilities has given rise to a huge "snowball effect", which is what has come to be called "original sin": the impossibility for an emerging country of borrowing abroad in its own currency. Although the effort to control the dynamics of the public debt will continue to be mainly at the internal level, the medium-term sustainability of that debt will depend on actions by international financial institutions aimed at improving the public debt conditions of emerging countries. /
dc.formatTexto
dc.format.extentpáginas. 97-113
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2258-P
dc.identifier.urihttps://hdl.handle.net/11362/11049
dc.language.isoeng
dc.physicalDescriptionp. 97-113
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo84
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngLIQUIDITY
dc.subject.unbisEngPUBLIC DEBT
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaDEUDA PUBLICA
dc.subject.unbisSpaLIQUIDEZ
dc.subject.unbisSpaPOLITICA FISCAL
dc.titlePublic debt sustainability
dc.type.coarrevista
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