Country insurance : the role of domestic policies /
"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...
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| Format: | Book |
| Language: | English |
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Washington, DC :
International Monetary Fund,
2007.
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| Series: | Occasional paper (International Monetary Fund) ;
no. 254. |
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| Summary: | "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 |
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| Physical Description: | v, 36 pages : illustrations ; 28 cm. |
| Bibliography: | Includes bibliographical references (pages 32-34). |
| ISBN: | 9781589066076 1589066073 |