TY  - BOOK
AU  - Claessens,Stijn
AU  - Claessens,Stijn
TI  - Taking Stock of Risk Management Techniques for Sovereigns
PY  - 2005///
CY  - Washington, D.C.
PB  - The World Bank
KW  - Bank Policy
KW  - Banks and Banking Reform
KW  - Commodity Prices
KW  - Creditworthiness
KW  - Currencies and Exchange Rates
KW  - Debt Markets
KW  - Developing Countries
KW  - Emerging Markets
KW  - Exchange
KW  - Finance and Financial Sector Development
KW  - Financial Literacy
KW  - Financial Risk
KW  - Global Capital
KW  - Global Capital Markets
KW  - Instruments
KW  - Insurance and Risk Mitigation
KW  - International Financial Institutions
KW  - International Financial Markets
KW  - International Markets
KW  - Investment
KW  - Labor Policies
KW  - Natural Disasters
KW  - Non Bank Financial Institutions
KW  - Private Sector Development
KW  - Risk Management
KW  - Risk Management Tools
KW  - Safety Net
KW  - Social Protections and Labor
KW  - Sovereign Debt
KW  - Sovereign Risk
KW  - Stock
N2  - 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
UR  - http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-3570
ER  -