Reconsidering External Financing of Domestic Budget Deficits: Debunking Some Received Wisdom

Reconsidering External Financing of Domestic Budget Deficits: Debunking Some Received Wisdom

by Mr. D. Woo, Simon Gray

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Overview

The past decade has witnessed a steady increase in outstanding external sovereign debt issued by emerging market economies. This paper examines some of the “received wisdom” regarding the benefits of external financing of domestic budget deficits and argues that it is often predicated on a narrow set of assumptions and incomplete evaluation of the underlying costs. The paper also suggests alternative sources of financing that can help capture some of the benefits associated with foreign financing without all of its costs.

Product Details

ISBN-13: 9781455259878
Publisher: INTERNATIONAL MONETARY FUND
Publication date: 07/01/2000
Sold by: Barnes & Noble
Format: NOOK Book
File size: 858 KB

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