Monitoring and Analysis of Contingent Budget Liabilities to Financial System
Igor Belyakov ()
Finansovyj žhurnal — Financial Journal, 2017, issue 4, 71-84
Abstract:
The last global financial crisis has demonstrated that when contingent budget liabilities risks materialize, the resulted budget losses can be huge even in advanced economies. Thus, the importance of the topic raised due to the need to mitigate these risks. On the other hand, monitoring and analysis of contingent budget liabilities are necessary for reliability of budget forecast, which is the basis for the future budget policy. The recent surveys of the OECD (2014) and the IMF (2016) have revealed that monitoring and analysis of the budget risks of contingent liabilities generally are not well-organized in most of countries. Nevertheless, it is possible to formulate several verified recommendations and point out some of the best practices in this field. These include regular and comprehensive reporting on budget risks, application of stress-testing and probability approach, and also calculation of quantitative indicators that measure implicit budget liabilities. As an illustration, two of such indicators, based on the Russian data for 2012–2016, are calculated and considered in the article.
Keywords: budget risks; contingent liabilities; financial system; banking crisis (search for similar items in EconPapers)
JEL-codes: G12 G15 H63 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://www.nifi.ru/images/FILES/Journal/Archive/20 ... 7_4/fm_2017_4_06.pdf (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:170406:p:71-84
Access Statistics for this article
Finansovyj žhurnal — Financial Journal is currently edited by Vladimir S. Nazarov
More articles in Finansovyj žhurnal — Financial Journal from Financial Research Institute, Moscow 125375, Russia Contact information at EDIRC.
Bibliographic data for series maintained by Gennady Ageev ().