Title: Country insurance
Description: "Countries face a range of shocks that can contribute to higher volatility in aggregate output and, in extreme cases, to economic crises.  The presence of such risks underlies a potential demand for mechanism to soften the blow from adverse economic shocks.  Such a protective infrastructure is referred to in this paper as "country insurance." Protective measures that countries can take themselves ("self-insurance") include sound economic policies, robust financial structures, and adequate reserve coverage. Beyond self-insurance, countries have also established regional arrangements that pool risks while, at the multilateral level, the IMF plays a central role through the temporary provision of its resources when shocks create balance of payments difficulties for a member, and through the policy advice it provides under surveillance.  The Occasional paper focuses on what countries can do on their own -- that is, on the role of domestic policies -- with respect to country insurance."--Preface.
Subjects: Public Debts, Debt service, Balance of payments, Reserves (Accounting), Financial crises, Crises financières, Balance des paiements, Wirtschaftskrise, Réserves (Comptabilité), Gestion de la dette, Gestion financière, Service de la dette, Dettes publiques, Risques financiers, Analyse des risques, Politique économique, Debts, public, Reserves (Comptabilite?), Crises financieres, Self-insurance
Places: Developing countries