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Claessens, Stijn

Taking Stock of Risk Management Techniques for Sovereigns Claessens, Stijn [electronic resource] / Claessens, Stijn - Washington, D.C., The World Bank, 2005 - 1 online resource (35 p.) - Policy research working papers. World Bank e-Library. .

This paper reviews the current state of affairs and thinking on external risk management for developing countries. It tries to identify the reasons behind the limited risk management by sovereigns. Perverse incentives arising from a too generous international safety net, limited access to international financial markets by developing countries arising from low creditworthiness, a limited supply of financial risk management tools suited to developing countries, and a poor supply of skills have inhibited risk management. Another constraint has been the limited attention given to the strategic objectives for risk management. Going forward, the paper identifies actions by international financial markets, countries and international financial institutions that can help improve risk management.

Standard No.: 10.1596/1813-9450-3570

Subjects--Topical Terms:
Bank Policy
Banks and Banking Reform
Commodity Prices
Creditworthiness
Currencies and Exchange Rates
Debt Markets
Developing Countries
Emerging Markets
Exchange
Finance and Financial Sector Development
Financial Literacy
Financial Risk
Global Capital
Global Capital Markets
Instruments
Insurance and Risk Mitigation
International Financial Institutions
International Financial Markets
International Markets
Investment
Labor Policies
Natural Disasters
Non Bank Financial Institutions
Private Sector Development
Risk Management
Risk Management Tools
Safety Net
Social Protections and Labor
Sovereign Debt
Sovereign Risk
Stock