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Title
Government at Risk: Contingent Liabilities and Fiscal Risk
Author(s)
Hana Polackova Brixi and Allen Schick
Publisher
The World Bank and Oxford University Press
Place of Publication
Washington D.C. and New york
Date of Publication
2002
ISBN
0821348353
Number of pages
488
URL
http://publications.worldbank.[..]
Abstract
Governments at risk are facing major fiscal challenges as a result of their contingent liabilities. Contingent liabilities dubbed “hidden deficits” account for a large share of the rise in government debt and tend to remain outside the framework of conventional public financial analysis and institutions. In many countries, the reality or prospect of unbudgeted fiscal risks coming due has been a wake-up call to extend fiscal management beyond the budgetary framework.
This book offers practical guidance to governments seeking to improve the management of fiscal risks. It explores difficult analytical and institutional challenges confronting reformers attempting to manage government fiscal risks. While discussing the inadequacies of conventional practices of dealing with fiscal risk, this book presents recent advances in managing fiscal risk and thereby helps to push the practice of fiscal analysis and management into the 21st century (abstract from http://publications.worldbank.org).
Table of contents
Part I: Learning to Deal with Fiscal Risks in Government Portfolios
Country examples:
Evaluating Government Net Worth in Colombia and Républica Bolivariana de Venezuela; The Challenges of Fiscal Risks in Transition:
Czech Republic, Hungary, and Bulgaria; Analyzing Government Fiscal Risk Exposure in China; Dealing with Contingent Liabilities in Indonesia and Thailand; Dealing with Contingent Liabilities in Colombia.
Part II: Dealing with Specific Sources of Government Fiscal Risk
Practice:
Contingent Liabilities in Infrastructure: Lessons from the East Asian Financial Crisis; Monitoring Fiscal Risks ofSubnational Governments:
Selected Country Experiences; Guarantees as Options: An Evaluation of Foreign Debt Restructuring Agreements; The Fiscal Risk of Floods: Lessons of Argentina; Conclusion: Toward a Code of Good Practice on Managing Fiscal Risk.
Language
English
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The above url provides a free glimpse of this publication's table of contents, foreword, and introduction chapter.

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