Assessing Debt Sustainability in Emerging Market Economies : Using Stochastic Simulation Methods

The authors apply stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium term. The vulnerability of public debt to adverse shocks is determined by a number of int...

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Bibliographic Details
Main Authors:	Hostland, Doug, Karam, Philippe
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTING ADVANCED COUNTRIES ADVERSE SHOCKS AGGREGATE DEMAND ASSET PRICES AUTOREGRESSION BENCHMARK BONDS BORROWING BUSINESS CYCLE CAPITAL ACCOUNT CAPITAL FLOWS CAPITAL INFLOWS CAPITAL MARKETS CREDIT RATING CREDITORS CURRENCY CRISES CURRENT ACCOUNT CURRENT ACCOUNT ADJUSTMENTS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT BALANCES CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT REVERSALS DEBT DEBT BURDEN DEBT BURDENS DEBT CRISIS DEBT DEFAULT DEBT DYNAMICS DEBT INTOLERANCE DEBT LEVEL DEBT MANAGEMENT DEBT MARKETS DEBT OBLIGATIONS DEBT RESCHEDULING DEBT SERVICE DEBT SERVICE BURDEN DEBT SERVICE PAYMENTS DEBT STOCKS DEBT SUSTAINABILITY DEBTOR DEBTOR REPORTING DEBTOR REPORTING SYSTEM DEBTORS DEFAULT RISK DEFAULTS DEVALUATION DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISCOUNTED VALUE DISTORTIONARY TAXES DOMESTIC CURRENCY DOMESTIC DEBT ECONOMIC GROWTH ECONOMIC OUTCOMES ECONOMIC OUTLOOK ECONOMIC STRUCTURE EMERGING MARKET ECONOMIES EMPIRICAL EVIDENCE EMPIRICAL STUDIES ENDOGENOUS VARIABLES EXCHANGE RATE EXCHANGE RATE DEPRECIATION EXCHANGE RATES EXPORTS EXTERNAL DEBT EXTERNAL DEBT BURDEN FINANCIAL CRISES FINANCIAL FRAGILITY FISCAL POLICY FOREIGN CURRENCY FUTURE RESEARCH GDP GROWTH RATE INCOME INFLATION INFLATION TARGETING INTEREST RATE INTEREST RATES INTERNATIONAL FINANCE LIQUIDITY LIQUIDITY CRISES LOCAL CURRENCY LONG TERM LOW-INCOME COUNTRIES MACRO MODELS MACRO POLICIES MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC VOLATILITY MATURITY STRUCTURE OF DEBT MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MONETARY POLICY NOMINAL INTEREST RATE OPEN ECONOMIES OPEN ECONOMY OUTPUT GROWTH OUTPUT VOLATILITY POLICY INSTRUMENTS POLICY RESEARCH PRIMARY SURPLUS PRIVATE SECTOR PUBLIC DEBT REAL EXCHANGE REAL GDP REAL INTEREST REAL INTEREST RATE REFINANCE RESERVE MANAGEMENT RISK PREMIUM SERIAL DEFAULTERS SOLVENCY SOVEREIGN DEBT STABLE INFLATION STANDARD DEVIATION STATISTICAL ANALYSIS STRUCTURAL REFORMS TAX REVENUES TRADE BALANCE TRADE SHOCKS
Online Access:	http://documents.worldbank.org/curated/en/2006/01/6534214/assessing-debt-sustainability-emerging-market-economies-using-stochastic-simulation-methods http://hdl.handle.net/10986/8800

Internet

http://documents.worldbank.org/curated/en/2006/01/6534214/assessing-debt-sustainability-emerging-market-economies-using-stochastic-simulation-methods
http://hdl.handle.net/10986/8800

Assessing Debt Sustainability in Emerging Market Economies : Using Stochastic Simulation Methods

Internet

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