Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88089
Authors: 
Alvarado, Carlos Díaz
Izquierdo, Alejandro
Panizza, Ugo
Year of Publication: 
2004
Series/Report no.: 
Working Paper, Inter-American Development Bank, Research Department 511
Abstract: 
This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal sustainability in an uncertain environment. Based on this discussion, the paper uses Ecuador to illustrate an application of the probabilistic model, and of the framework to evaluate the impact of shocks to current account financing on sustainability.
Subjects: 
Fiscal Sustainability
Debt
Default
Sudden Stop
Emerging Markets
Ecuador
JEL: 
E62
O23
Document Type: 
Working Paper

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