Public debt sustainability. Notes on debt sustainability, development of a domestic governmet securities market and financial risks
The paper focuses on debt management, and examines the concept of debt sustainability as defined by different authors and applied by the IMF. However, proposes a new definition and a different approach. Assessment procedures for the new approach are suggested as also some actions to develop a govern...
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| Formato: | Artículo científico |
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Universidad Autónoma Metropolitana Unidad Azcapotzalco
2005
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| Acceso en línea: | http://www.redalyc.org/articulo.oa?id=41304409 http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-022&d=41304409oai |
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| Sumario: | The paper focuses on debt management, and examines the concept of debt sustainability as defined by different authors and applied by the IMF. However, proposes a new definition and a different approach. Assessment procedures for the new approach are suggested as also some actions to develop a government securities market. In the last part, it proposes an interpretation of Mexicos 1982 and 1994-95 crises, as a result of two factors, the overlooking of basic financial risks and a poor conception of debt sustainability. |
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