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Taking Stock of Risk Management Techniques for Sovereigns

Stijn Claessens

出版	World Bank Publications, 2005
ISBN	05042513419780504251344
URL	http://books.google.com.hk/books?id=MaEvz_UvXk8C&hl=&source=gbs_api
EBook	SAMPLE

註釋

This paper reviews the current state of affairs and thinking on external risk management for developing countries. It tries to identify the reasons behind the limited risk management by sovereigns. Perverse incentives arising from a too generous international safety net, limited access to international financial markets by developing countries arising from low creditworthiness, a limited supply of financial risk management tools suited to developing countries, and a poor supply of skills have inhibited risk management. Another constraint has been the limited attention given to the strategic objectives for risk management. Going forward, the paper identifies actions by international financial markets, countries and international financial institutions that can help improve risk management.