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dc.contributor.authorBorensztein, Eduardoen_US
dc.contributor.authorCavallo, Eduardoen_US
dc.contributor.authorValenzuela, Patricioen_US
dc.date.accessioned2010-02-23en_US
dc.date.accessioned2011-11-18T11:47:56Z-
dc.date.available2011-11-18T11:47:56Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/51467-
dc.description.abstractNatural disasters are an important source of vulnerability in the Caribbean region. Despite being one of the more disaster-prone areas of the world, it has the lowest levels of insurance coverage. This paper examines the vulnerability of Belize's public finance to the occurrence of hurricanes and the potential impact of insurance instruments in reducing that vulnerability. The paper finds that catastrophic risk insurance significantly improves Belize's debt sustainability. In addition, the methodology employed makes it possible to estimate the appropriate level of insurance, which for the case of Belize is a maximum coverage of US$120 million per year. International organizations can play a role in assisting countries to overcome distortions in insurance markets, as well as in helping to relax internal political resistance to the purchase of insurance policies.en_US
dc.language.isoengen_US
dc.publisherInter-American Development Bank, Research Dep. Washington, DCen_US
dc.relation.ispartofseriesWorking paper // Inter-American Development Bank, Research Department 607en_US
dc.subject.jelH30en_US
dc.subject.jelG15en_US
dc.subject.jelG22en_US
dc.subject.jelQ54en_US
dc.subject.ddc330en_US
dc.subject.keywordPublic Financeen_US
dc.subject.keywordInsuranceen_US
dc.subject.keywordNatural Disastersen_US
dc.titleDebt sustainability under catastrophic risk: The case for government budget insuranceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn585537429en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Research Department Working Papers, Inter-American Development Bank

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