Sovereign debt, volatility, and insurance

International capital inflows should, in theory, enable emerging market economies to reduce the volatility of private and public consumption in the presence of income volatility, in addition to allowing foreign savings to finance domestic capital accumulation. Access to international financial marke...

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Autor principal:	Kletzer, Kenneth M.
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	DEUDA SEGUROS
Acceso en línea:	https://hdl.handle.net/20.500.12580/3714
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spelling	oai-20.500.12580-37142021-04-24T10:31:43Z Sovereign debt, volatility, and insurance Kletzer, Kenneth M. DEUDA SEGUROS International capital inflows should, in theory, enable emerging market economies to reduce the volatility of private and public consumption in the presence of income volatility, in addition to allowing foreign savings to finance domestic capital accumulation. Access to international financial markets should provide opportunities for the domestic private sector and government to diversify against aggregate country-specific income risk. In practice, international capital flows to emerging markets are themselves volatile and sometimes propagate external shocks to domestic consumption and investment or exacerbate domestic shocks. Higher levels of external debt increase the exposure of developing countries to world output and interest rate fluctuations and to the possibility of sudden capital flow reversals that may be poorly explained by country fundamentals. 2019-11-01T00:03:14Z 2019-11-01T00:03:14Z 2006 Artículo 956-7421-23-4 https://hdl.handle.net/20.500.12580/3714 eng Series on Central Banking, Analysis, and Economic Policies, no. 10 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 327-352 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	DEUDA SEGUROS
spellingShingle	DEUDA SEGUROS Kletzer, Kenneth M. Sovereign debt, volatility, and insurance
description	International capital inflows should, in theory, enable emerging market economies to reduce the volatility of private and public consumption in the presence of income volatility, in addition to allowing foreign savings to finance domestic capital accumulation. Access to international financial markets should provide opportunities for the domestic private sector and government to diversify against aggregate country-specific income risk. In practice, international capital flows to emerging markets are themselves volatile and sometimes propagate external shocks to domestic consumption and investment or exacerbate domestic shocks. Higher levels of external debt increase the exposure of developing countries to world output and interest rate fluctuations and to the possibility of sudden capital flow reversals that may be poorly explained by country fundamentals.
format	Artículo
author	Kletzer, Kenneth M.
author_facet	Kletzer, Kenneth M.
author_sort	Kletzer, Kenneth M.
title	Sovereign debt, volatility, and insurance
title_short	Sovereign debt, volatility, and insurance
title_full	Sovereign debt, volatility, and insurance
title_fullStr	Sovereign debt, volatility, and insurance
title_full_unstemmed	Sovereign debt, volatility, and insurance
title_sort	sovereign debt, volatility, and insurance
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3714
work_keys_str_mv	AT kletzerkennethm sovereigndebtvolatilityandinsurance
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Sovereign debt, volatility, and insurance

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