Sovereign debt, volatility, and insurance

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dc.contributor.authorKletzer, Kenneth M.
dc.date.accessioned2019-11-01T00:03:14Z
dc.date.available2019-11-01T00:03:14Z
dc.date.issued2006
dc.descriptionInternational 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.
dc.file.nameBCCh-sbc-v10-p327_352
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 327-352
dc.identifier.isbn956-7421-23-4
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3714
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 10
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectDEUDAes_ES
dc.subjectSEGUROSes_ES
dc.titleSovereign debt, volatility, and insurance
dc.type.docArtículo

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