Public debt sustainability
Includes bibliography
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oai-11362-110492020-03-04T19:57:23Z Public debt sustainability Martner Fanta, Ricardo Tromben, Varinia CONDICIONES ECONOMICAS DEUDA PUBLICA LIQUIDEZ POLITICA FISCAL ECONOMIC CONDITIONS FISCAL POLICY LIQUIDITY PUBLIC DEBT Includes bibliography 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. / 2014-01-02T18:43:53Z 2014-01-02T18:43:53Z 2004-12 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/11049 LC/G.2258-P en CEPAL Review CEPAL Review 84 application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN |
institution |
Cepal |
collection |
Cepal |
language |
English |
topic |
CONDICIONES ECONOMICAS DEUDA PUBLICA LIQUIDEZ POLITICA FISCAL ECONOMIC CONDITIONS FISCAL POLICY LIQUIDITY PUBLIC DEBT |
spellingShingle |
CONDICIONES ECONOMICAS DEUDA PUBLICA LIQUIDEZ POLITICA FISCAL ECONOMIC CONDITIONS FISCAL POLICY LIQUIDITY PUBLIC DEBT Martner Fanta, Ricardo Tromben, Varinia Public debt sustainability |
description |
Includes bibliography |
format |
Texto |
author |
Martner Fanta, Ricardo Tromben, Varinia |
author_facet |
Martner Fanta, Ricardo Tromben, Varinia |
author_sort |
Martner Fanta, Ricardo |
title |
Public debt sustainability |
title_short |
Public debt sustainability |
title_full |
Public debt sustainability |
title_fullStr |
Public debt sustainability |
title_full_unstemmed |
Public debt sustainability |
title_sort |
public debt sustainability |
publishDate |
2014 |
url |
http://hdl.handle.net/11362/11049 |
work_keys_str_mv |
AT martnerfantaricardo publicdebtsustainability AT trombenvarinia publicdebtsustainability |
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1718440403058819072 |