Adler, Gustavo.
External Conditions and Debt Sustainability in Latin America Gustavo Adler. [electronic resource] / Gustavo Adler. - Washington, D.C. : International Monetary Fund, 2013. - 1 online resource (51 p.) - IMF Working Papers; Working Paper ; No. 13/27 . - IMF Working Papers; Working Paper ; No. 13/27 .
Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external environment? This paper addresses this question by developing a simple framework that integrates econometric estimates of the effect of global factors on key domestic variables that determine public and external debt dynamics, with the IMF's standard debt sustainability framework. Results suggest that, while some countries in the region are well placed to withstand moderate or even large shocks, many would benefit from having stronger buffers to be in a position to deploy countercyclical policies, especially under tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
1475588836 : 18.00 USD
1018-5941
10.5089/9781475588835.001 doi
Debt Dynamics
Debt Ratios
Deficit
Forecasting and Simulation
Open Economy Macroeconomics
Time-Series Models
Bolivia
Brazil
Chile
Ecuador
Mexico
External Conditions and Debt Sustainability in Latin America Gustavo Adler. [electronic resource] / Gustavo Adler. - Washington, D.C. : International Monetary Fund, 2013. - 1 online resource (51 p.) - IMF Working Papers; Working Paper ; No. 13/27 . - IMF Working Papers; Working Paper ; No. 13/27 .
Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external environment? This paper addresses this question by developing a simple framework that integrates econometric estimates of the effect of global factors on key domestic variables that determine public and external debt dynamics, with the IMF's standard debt sustainability framework. Results suggest that, while some countries in the region are well placed to withstand moderate or even large shocks, many would benefit from having stronger buffers to be in a position to deploy countercyclical policies, especially under tail events. External sustainability, on the other hand, does not appear to be a source of concern for most countries.
1475588836 : 18.00 USD
1018-5941
10.5089/9781475588835.001 doi
Debt Dynamics
Debt Ratios
Deficit
Forecasting and Simulation
Open Economy Macroeconomics
Time-Series Models
Bolivia
Brazil
Chile
Ecuador
Mexico