Reconsidering External Financing of Domestic Budget Deficits [electronic resource] : Debunking Some Received Wisdom, Woo, D..
- Washington, D.C. : International Monetary Fund, 2000.
- IMF eLibrary
IMF Policy Discussion Papers; Policy Discussion Paper No. 00/8.
IMF Policy Discussion Papers; Policy Discussion Paper No. 00/8
- Government document
1 online resource (24 p.)
- Local subjects:
- Balance of payment.
Currency diversification of debt.
Debt management policy.
Domestic capital markets.
External debt service.
Foreign currency debt.
International capital market.
Net external debt.
Private sector borrowing.
Public debt management.
- The past decade has witnessed a steady increase in outstanding external sovereign debt issued by emerging market economies. This paper examines some of the “received wisdom” regarding the benefits of external financing of domestic budget deficits and argues that it is often predicated on a narrow set of assumptions and incomplete evaluation of the underlying costs. The paper also suggests alternative sources of financing that can help capture some of the benefits associated with foreign financing without all of its costs.
- Description based on print version record.
- Gray, Simon.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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