A Compendium Of Policy Instruments To Enhance Financial Stability And Debt Management In Emerging Market Economies
Source: Oxford University Press
Drawing on available theory and evidence, this paper attempts to identify some key factors contributing to international financial instability to develop taxonomy of policy instruments to enhance financial stability and debt management in emerging market economies. The purpose is to relate each instrument to particular aspects of the broader policy challenge, thus clarifying differences and/or similarities among instruments and proposals. The analysis suggests instruments that could help increase the efficiency of risk management strategies (such as growth- or GDP-indexed bonds) and enhance the effectiveness of debt management, growth and development policies (such as a stability and social investment facility).