A Cross-Country Analysis of Public Debt Management Strategies

This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.

Bibliographic Details

Main Author:	Melecky, Martin
Language:	English
Published:	World Bank, Washington, DC 2007-07
Subjects:	AVERAGE GROWTH, BALANCE SHEET, BENCHMARK, BENCHMARKS, BILATERAL DONORS, BLEND COUNTRIES, CAPITAL ADEQUACY, CENTRAL BANK, CENTRAL BANK INDEPENDENCE, CENTRAL GOVERNMENT DEBT, COMMODITIES, CRISES EPISODES, CURRENCY COMPOSITION, CURRENCY RISK, CURRENT ACCOUNT, DEBT COMPOSITION, DEBT INSTRUMENTS, DEBT LEVELS, DEBT MANAGEMENT AUTHORITIES, DEBT MANAGEMENT AUTHORITY, DEBT MANAGEMENT DEPARTMENT, DEBT MANAGEMENT GUIDELINES, DEBT MANAGEMENT OPERATIONS, DEBT MANAGEMENT POLICY, DEBT MANAGEMENT PRACTICE, DEBT MANAGEMENT STRATEGIES, DEBT MANAGEMENT STRATEGY, DEBT MANAGERS, DEBT MARKETS, DEBT OBLIGATIONS, DEBT PORTFOLIO, DEBT RENEGOTIATIONS, DEBT SERVICING, DEBT STRATEGIES, DEBT STRATEGY, DEBT SUSTAINABILITY, DEBT SUSTAINABILITY ISSUES, DEGREE OF RISK, DEGREE OF TRANSPARENCY, DEVELOPING COUNTRIES, DEVELOPMENT ECONOMICS, DOMESTIC BOND, DOMESTIC BOND MARKET, DOMESTIC BOND MARKET DEVELOPMENT, DOMESTIC CURRENCY, DUMMY VARIABLES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INDICATORS, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXPENDITURES, EXPORTS, EXTERNAL SHOCK, EXTERNAL SHOCKS, FISCAL SUSTAINABILITY, FOREIGN AID, FOREIGN CURRENCY, FOREIGN CURRENCY DEBT, FOREIGN EXCHANGE, GDP, GDP PER CAPITA, GOVERNMENT BONDS, GOVERNMENT BORROWING, GOVERNMENT BUDGET, GOVERNMENT DEBT, GOVERNMENT INDEBTEDNESS, GOVERNMENT POLICIES, GOVERNMENT REVENUES, GROSS DOMESTIC PRODUCT, GROWTH RATE, HIGHLY INDEBTED COUNTRIES, INCIDENCE OF DEBT, INCOME, INCOME GROUP, INCOME GROUPS, INCOME LEVELS, INCOME RANGES, INDEBTEDNESS, INSTRUMENT, INTEREST RATE, INTEREST RATE RISK, INTERNATIONAL BANK, LEVEL OF DEBT, LOCAL CURRENCIES, LOW COST, LOW INCOME, MACROECONOMIC MANAGEMENT, MACROECONOMIC PERFORMANCE, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMICS, MATURITY, MATURITY STRUCTURE, MIDDLE EAST, MONETARY FUND, MONETARY POLICIES, MONETARY POLICY, NATIONAL GOVERNMENTS, NORTH AFRICA, ORGANIZATIONAL STRUCTURE, PAYMENT OBLIGATIONS, PEER PRESSURE, PERPETUITY, PORTFOLIOS, POSITIVE EXTERNALITY, PRICE STABILITY, PRIVATE BORROWER, PRIVATE INVESTOR, PRIVATE SECTOR, PRIVATE SECTOR INVESTMENT, PROBABILITY, PUBLIC, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC DEBT MANAGERS, PUBLIC FINANCE, PUBLIC GOODS, PUBLIC SECTOR, QUALITY OF DEBT MANAGEMENT, QUESTIONNAIRE, REAL GDP, REGIONAL DUMMIES, REGIONAL DUMMY, REGRESSION ANALYSES, REGRESSION ANALYSIS, REMITTANCES, RESEARCH ASSISTANCE, RESERVES, RISK MANAGEMENT, SENIOR, SOLVENCY, SOURCE OF INFORMATION, SUB-SAHARAN AFRICA, TAX, TAX REVENUES, TOTAL DEBT, TOTAL EXTERNAL DEBT, TRANSPARENCY, WAGE,
Online Access:	http://documents.worldbank.org/curated/en/2007/07/7998336/cross-country-analysis-public-debt-management-strategies http://hdl.handle.net/10986/7474
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