Managing Fiscal Risk

Murray Petrie ()

Chapter 28 in The International Handbook of Public Financial Management, 2013, pp 590-618 from Palgrave Macmillan

Abstract: Abstract Fiscal risk has been the subject of increasing attention over the last two decades. The financial crises of the 1990s, the extensive use of guarantees by transition economies, and the global financial crisis (GFC) and sovereign debt crisis have all shown that even apparently sound budget and debt positions can be subject to large hidden risks from off-budget or off-balance sheet fiscal activities and implicit liabilities. Pressures to reduce budget deficits and debt continue to induce some governments to shift activities off-budget or off-balance sheet in ways that often increase cost and risk.

Keywords: Public Debt; Global Financial Crisis; International Financial Reporting Standard; Risk Mitigation; Asset Management (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31530-4_29

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DOI: 10.1057/9781137315304_29

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