Government at Risk : Contingent Liabilities and Fiscal Risk
Conventional fiscal analysis fails to address contingent fiscal risk. The government budget process and documentation generally fail to scrutinize the substantial claims on public resources that are associated with government contingent liabilities...
| Main Authors: | , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank and Oxford University Press
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2002/04/2017569/government-risk-contingent-liabilities-fiscal-risk http://hdl.handle.net/10986/15233 |
| Summary: | Conventional fiscal analysis fails to
address contingent fiscal risk. The government budget
process and documentation generally fail to scrutinize the
substantial claims on public resources that are associated
with government contingent liabilities, realized and
potential. This report fills gaps on our understanding of
fiscal risks and develops suitable frameworks for managing
them. It offers new analytical concepts, presents country
case studies, and based on country case studies, provides a
menu of practical ideas for policymakers and scholars to
bring fiscal risk within the ambit of public finance. The
book is divided into two parts: Part I of this book gives an
overview of different approaches to dealing with government
fiscal risks. The country examples in this part offer
additional conceptual approaches and illustrate some of the
discussion in the earlier chapters. Part II presents
analytical and institutional approaches that governments
might consider when facing risks in specific government
programs or sectors. The book indicates that countries
differ greatly in their treatment of contingent liabilities
and other fiscal risks. In this respect, the book
illustrates that contemporary practices have yet to be standardized. |
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