Contingent Liabilities : A Threat to Fiscal Stability

The economic policy note discusses the issue of serious fiscal instability faced by many governments as a result of their contingent liabilities, which are associated with major hidden fiscal risks. Direct liabilities are predictable obligations th...

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Main Author:	Polackova, Hana
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AUTHORITY BALANCE SHEETS BANK BAILOUTS BANK FAILURES BUDGET EXPENDITURES CENTRAL GOVERNMENTS CONTINGENT LIABILITIES CROP INSURANCE DEPOSIT INSURANCE DISCLOSURE ECONOMICS EXCHANGE RATE FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL FISCAL POLICY FISCAL PRESSURES FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FISCAL YEAR FLOOD INSURANCE FOREIGN EXCHANGE GOVERNMENT POLICIES GOVERNMENT PROGRAMS HEALTH CARE HEALTH CARE FINANCING INFORMATION DISCLOSURE INSURANCE MARKET INSTITUTIONS MINISTRY OF FINANCE MORAL HAZARD MORTGAGE LOANS PENSIONS POLICY RESEARCH PRESIDENCY PRIVATE PENSION FUNDS PRIVATE SECTOR PUBLIC AGENCIES PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INVESTMENTS PUBLIC RESOURCES RATING AGENCIES RESERVE £ ADEQUACY RISK ASSESSMENT RISK FACTORS RISK INSURANCE RISK MANAGEMENT RISK PREFERENCE SOCIAL SECURITY STATE GUARANTEES SUBNATIONAL GOVERNMENTS FISCAL PRESSURES FISCAL MANAGEMENT CONTINGENT LIABILITY POLICY REFORM RISKS ECONOMIC POLICY
Online Access:	http://documents.worldbank.org/curated/en/1998/11/438760/contingent-liabilities-threat-fiscal-stability http://hdl.handle.net/10986/11522

id	okr-10986-11522
recordtype	oai_dc
spelling	okr-10986-115222021-06-14T11:03:00Z Contingent Liabilities : A Threat to Fiscal Stability Polackova, Hana AUTHORITY BALANCE SHEETS BANK BAILOUTS BANK FAILURES BUDGET EXPENDITURES CENTRAL GOVERNMENTS CONTINGENT LIABILITIES CROP INSURANCE DEPOSIT INSURANCE DISCLOSURE ECONOMICS EXCHANGE RATE FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL FISCAL POLICY FISCAL PRESSURES FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FISCAL YEAR FLOOD INSURANCE FOREIGN EXCHANGE GOVERNMENT POLICIES GOVERNMENT PROGRAMS HEALTH CARE HEALTH CARE FINANCING INFORMATION DISCLOSURE INSURANCE MARKET INSTITUTIONS MINISTRY OF FINANCE MORAL HAZARD MORTGAGE LOANS PENSIONS POLICY RESEARCH PRESIDENCY PRIVATE PENSION FUNDS PRIVATE SECTOR PUBLIC AGENCIES PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INVESTMENTS PUBLIC RESOURCES RATING AGENCIES RESERVE £ ADEQUACY RISK ASSESSMENT RISK FACTORS RISK INSURANCE RISK MANAGEMENT RISK PREFERENCE SOCIAL SECURITY STATE GUARANTEES SUBNATIONAL GOVERNMENTS FISCAL PRESSURES FISCAL MANAGEMENT CONTINGENT LIABILITY FISCAL SUSTAINABILITY POLICY REFORM RISKS ECONOMIC POLICY The economic policy note discusses the issue of serious fiscal instability faced by many governments as a result of their contingent liabilities, which are associated with major hidden fiscal risks. Direct liabilities are predictable obligations that will arise in any event, and are the main subject of conventional fiscal analysis. Conversely, contingent liabilities are obligations triggered by a discreet but uncertain event, and are not always accounted for fully. The note further discusses explicit and implicit liabilities of a central government, suggesting ways to reduce fiscal risks for the policy makers. 2012-08-13T15:17:44Z 2012-08-13T15:17:44Z 1998-11 http://documents.worldbank.org/curated/en/1998/11/438760/contingent-liabilities-threat-fiscal-stability http://hdl.handle.net/10986/11522 English PREM Notes; No. 9 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	AUTHORITY BALANCE SHEETS BANK BAILOUTS BANK FAILURES BUDGET EXPENDITURES CENTRAL GOVERNMENTS CONTINGENT LIABILITIES CROP INSURANCE DEPOSIT INSURANCE DISCLOSURE ECONOMICS EXCHANGE RATE FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL FISCAL POLICY FISCAL PRESSURES FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FISCAL YEAR FLOOD INSURANCE FOREIGN EXCHANGE GOVERNMENT POLICIES GOVERNMENT PROGRAMS HEALTH CARE HEALTH CARE FINANCING INFORMATION DISCLOSURE INSURANCE MARKET INSTITUTIONS MINISTRY OF FINANCE MORAL HAZARD MORTGAGE LOANS PENSIONS POLICY RESEARCH PRESIDENCY PRIVATE PENSION FUNDS PRIVATE SECTOR PUBLIC AGENCIES PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INVESTMENTS PUBLIC RESOURCES RATING AGENCIES RESERVE £ ADEQUACY RISK ASSESSMENT RISK FACTORS RISK INSURANCE RISK MANAGEMENT RISK PREFERENCE SOCIAL SECURITY STATE GUARANTEES SUBNATIONAL GOVERNMENTS FISCAL PRESSURES FISCAL MANAGEMENT CONTINGENT LIABILITY FISCAL SUSTAINABILITY POLICY REFORM RISKS ECONOMIC POLICY
spellingShingle	AUTHORITY BALANCE SHEETS BANK BAILOUTS BANK FAILURES BUDGET EXPENDITURES CENTRAL GOVERNMENTS CONTINGENT LIABILITIES CROP INSURANCE DEPOSIT INSURANCE DISCLOSURE ECONOMICS EXCHANGE RATE FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL FISCAL POLICY FISCAL PRESSURES FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FISCAL YEAR FLOOD INSURANCE FOREIGN EXCHANGE GOVERNMENT POLICIES GOVERNMENT PROGRAMS HEALTH CARE HEALTH CARE FINANCING INFORMATION DISCLOSURE INSURANCE MARKET INSTITUTIONS MINISTRY OF FINANCE MORAL HAZARD MORTGAGE LOANS PENSIONS POLICY RESEARCH PRESIDENCY PRIVATE PENSION FUNDS PRIVATE SECTOR PUBLIC AGENCIES PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCING PUBLIC INVESTMENTS PUBLIC RESOURCES RATING AGENCIES RESERVE £ ADEQUACY RISK ASSESSMENT RISK FACTORS RISK INSURANCE RISK MANAGEMENT RISK PREFERENCE SOCIAL SECURITY STATE GUARANTEES SUBNATIONAL GOVERNMENTS FISCAL PRESSURES FISCAL MANAGEMENT CONTINGENT LIABILITY FISCAL SUSTAINABILITY POLICY REFORM RISKS ECONOMIC POLICY Polackova, Hana Contingent Liabilities : A Threat to Fiscal Stability
relation	PREM Notes; No. 9
description	The economic policy note discusses the issue of serious fiscal instability faced by many governments as a result of their contingent liabilities, which are associated with major hidden fiscal risks. Direct liabilities are predictable obligations that will arise in any event, and are the main subject of conventional fiscal analysis. Conversely, contingent liabilities are obligations triggered by a discreet but uncertain event, and are not always accounted for fully. The note further discusses explicit and implicit liabilities of a central government, suggesting ways to reduce fiscal risks for the policy makers.
format	Publications & Research :: Brief
author	Polackova, Hana
author_facet	Polackova, Hana
author_sort	Polackova, Hana
title	Contingent Liabilities : A Threat to Fiscal Stability
title_short	Contingent Liabilities : A Threat to Fiscal Stability
title_full	Contingent Liabilities : A Threat to Fiscal Stability
title_fullStr	Contingent Liabilities : A Threat to Fiscal Stability
title_full_unstemmed	Contingent Liabilities : A Threat to Fiscal Stability
title_sort	contingent liabilities : a threat to fiscal stability
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/1998/11/438760/contingent-liabilities-threat-fiscal-stability http://hdl.handle.net/10986/11522
_version_	1764417038668791808

Contingent Liabilities : A Threat to Fiscal Stability

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