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|c 5.00 USD
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|z 9781484311059
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Henao Arbelaez, Camila.
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|a Government Financial Assets and Debt Sustainability /
|c Camila Henao Arbelaez, Nelson Sobrinho.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Do government financial assets help improve public debt sustainability? To answer this question, we assemble a comprehensive dataset on government assets using multiple sources and covering 110 advanced and emerging market economies since the late 1980s. We then use this rich database to estimate the impact of assets on two key dimensions of debt sustainability: borrowing costs and the probability of debt distress. Government financial assets significantly reduce sovereign spreads and the probability of debt crises in emerging economies but not in advanced economies, and the effect varies with asset characteristics, notably liquidity. Government finacial assets also help discriminate countries across the distribution of sovereign spreads, thus signaling information about emerging economies' creditworthiness.
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|a Mode of access: Internet
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|a Sobrinho, Nelson.
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|a IMF Working Papers; Working Paper ;
|v No. 2017/173
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/173/001.2017.issue-173-en.xml
|z IMF e-Library
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