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dc.contributor.authorBorensztein, Eduardoen
dc.contributor.authorCavallo, Eduardoen
dc.contributor.authorValenzuela, Patricioen
dc.date.accessioned2010-02-23-
dc.date.accessioned2011-11-18T11:47:56Z-
dc.date.available2011-11-18T11:47:56Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aInter-American Development Bank, Research Department |cWashington, DCen
dc.relation.ispartofseries|aWorking Paper |x607en
dc.subject.jelH30en
dc.subject.jelG15en
dc.subject.jelG22en
dc.subject.jelQ54en
dc.subject.ddc330en
dc.subject.keywordPublic Financeen
dc.subject.keywordInsuranceen
dc.subject.keywordNatural Disastersen
dc.titleDebt sustainability under catastrophic risk: The case for government budget insurance-
dc.typeWorking Paperen
dc.identifier.ppn585537429en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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