Publication:
Small States : Performance in Public Debt Management

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dc.contributor.authorPrasad, Abha
dc.contributor.authorPollock, Malvina
dc.contributor.authorLi, Ying
dc.date.accessioned2013-04-11T20:10:40Z
dc.date.available2013-04-11T20:10:40Z
dc.date.issued2013-02
dc.description.abstractThis paper analyzes the status of public debt management performance in 17 small states through the findings of the Debt Management Performance Assessment reports. Empirical evidence indicates that the higher the quality of a country's policies and institutions, the better is its capacity to carry debt and withstand exogenous shocks. Borrowing for productive purposes can be an important element in boosting growth of gross domestic product but, conversely, excessive borrowing or poorly structured debt in terms of maturity, currency, or interest rate composition can quickly offset the positive impact, deter new foreign and domestic investment, compromise reform programs, depress growth of gross domestic product, exacerbate the challenge of meeting debt service obligations, and may induce or propagate economic crises. Arguments in favor of sound debt management are especially compelling for small states that must mitigate the particular risks to which their economies are exposed. Against this backdrop, the paper identifies aspects of debt management where small states do relatively well and those where they perform poorly, relative to other developing countries, and examines the underlying factors at play. It elaborates on some of the successful measures taken by small states to enhance debt management performance and considers how these may be applied more broadly in other small states. The paper offers a number of practical suggestions to strengthen debt management performance.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/02/17225559/small-states-performance-public-debt-management
dc.identifier.doi10.1596/1813-9450-6356
dc.identifier.urihttps://hdl.handle.net/10986/13165
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6356
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectACTIVE DEBT
dc.subjectAGGREGATE DEBT
dc.subjectASPECTS OF DEBT MANAGEMENT
dc.subjectASSET PRICE
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectBALANCE SHEET
dc.subjectBANK FINANCING
dc.subjectBENCHMARK BONDS
dc.subjectBENEFICIARIES
dc.subjectBID
dc.subjectBOND
dc.subjectBOND MARKETS
dc.subjectBORROWING COSTS
dc.subjectBORROWING PLAN
dc.subjectBORROWING PLANS
dc.subjectBROKER
dc.subjectBROKERS
dc.subjectBUYBACK
dc.subjectCAPACITY CONSTRAINTS
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKET
dc.subjectCASH BALANCE
dc.subjectCASH FLOW
dc.subjectCASH FLOWS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCENTRAL GOVERNMENT DEBT
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCONTINGENT LIABILITIES
dc.subjectCOUPONS
dc.subjectCREDITWORTHINESS
dc.subjectCURRENCY
dc.subjectCURRENCY RISKS
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT ACCUMULATION
dc.subjectDEBT BURDENS
dc.subjectDEBT COMPOSITION
dc.subjectDEBT CRISES
dc.subjectDEBT DATA
dc.subjectDEBT DYNAMICS
dc.subjectDEBT FORGIVENESS
dc.subjectDEBT ISSUES
dc.subjectDEBT LEVELS
dc.subjectDEBT MANAGEMENT CAPACITY
dc.subjectDEBT MANAGEMENT POLICIES
dc.subjectDEBT MANAGEMENT PRACTICES
dc.subjectDEBT MANAGERS
dc.subjectDEBT MARKET
dc.subjectDEBT OBLIGATIONS
dc.subjectDEBT PORTFOLIOS
dc.subjectDEBT PROBLEM
dc.subjectDEBT PROBLEMS
dc.subjectDEBT RATIOS
dc.subjectDEBT RELIEF
dc.subjectDEBT REPORTS
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICE OBLIGATIONS
dc.subjectDEBT SERVICE PAYMENTS
dc.subjectDEBT TRANSACTIONS
dc.subjectDEBT-SERVICE
dc.subjectDEBTOR
dc.subjectDEBTOR REPORTING SYSTEM
dc.subjectDEVELOPING COUNTRIES
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC BORROWINGS
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKETS
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC SECURITY
dc.subjectENABLING ENVIRONMENT
dc.subjectENFORCEMENT MECHANISMS
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCESSIVE BORROWING
dc.subjectEXPENDITURES
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL DEBT INDICATORS
dc.subjectEXTERNAL FINANCING
dc.subjectEXTERNAL INDEBTEDNESS
dc.subjectEXTERNAL PUBLIC DEBT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTABILITY
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKET
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED EXCHANGE RATE
dc.subjectFIXED INCOME
dc.subjectFIXED INCOME SECURITIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN MARKETS
dc.subjectFUNGIBLE
dc.subjectGLOBAL ECONOMY
dc.subjectGOVERNMENT FINANCING
dc.subjectGOVERNMENT SECURITIES
dc.subjectGOVERNMENT SECURITY
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDING
dc.subjectHUMAN RESOURCE
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINCOME VOLATILITY
dc.subjectINDEBTEDNESS
dc.subjectINFLATION
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINSTITUTIONAL ARRANGEMENTS FOR DEBT MANAGEMENT
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE SWAPS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEBT
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTOR BASE
dc.subjectINVESTOR DEMAND
dc.subjectISSUANCE
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL FRAMEWORKS
dc.subjectLEGAL SYSTEM
dc.subjectLEVEL PLAYING FIELD
dc.subjectLIQUID BENCHMARK
dc.subjectLIQUID DOMESTIC DEBT MARKETS
dc.subjectLOAN
dc.subjectLOAN CONTRACT
dc.subjectLOAN GUARANTEES
dc.subjectLOCAL CURRENCIES
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL SECURITIES
dc.subjectLONG-TERM INVESTORS
dc.subjectLONG-TERM LIABILITIES
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMARKET DATA
dc.subjectMARKET DEPTH
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET MAKERS
dc.subjectMARKET PARTICIPANTS
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMEASUREMENT OF DEBT
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectNATIONAL DEBT
dc.subjectNATIONAL DEBT MANAGEMENT
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNET PRESENT VALUE OF DEBT
dc.subjectOPEN ECONOMIES
dc.subjectOUTSTANDING DEBT
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION FUNDS
dc.subjectPOLITICAL STABILITY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO RISK
dc.subjectPORTFOLIOS
dc.subjectPOTENTIAL INVESTORS
dc.subjectPRIMARY MARKET
dc.subjectPRIVATE CREDITORS
dc.subjectPUBLIC BORROWING
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SECTOR DEBT
dc.subjectPUBLIC SECTOR DEFICITS
dc.subjectPURCHASING POWER
dc.subjectQUALITY OF DEBT MANAGEMENT
dc.subjectREGISTRY SYSTEM
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY INFRASTRUCTURE
dc.subjectREMITTANCE
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRETAIL INVESTORS
dc.subjectRISK FACTORS
dc.subjectRISK MANAGEMENT
dc.subjectSECONDARY MARKET
dc.subjectSECONDARY MARKETS
dc.subjectSECONDARY TRADING
dc.subjectSECURITIES EXCHANGE
dc.subjectSECURITY MARKET
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT SYSTEM
dc.subjectSETTLEMENT SYSTEMS
dc.subjectSOVEREIGN DEBT
dc.subjectSUBSTANTIAL DEBT
dc.subjectT-BONDS
dc.subjectTAX
dc.subjectTOTAL DEBT
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREASURY BILLS
dc.subjectTREASURY BONDS
dc.subjectTREASURY NOTES
dc.subjectTURNOVER
dc.subjectUNIFORM PRICE
dc.subjectUNIFORM PRICE AUCTION
dc.subjectUSE OF DERIVATIVES
dc.subjectYIELD CURVE
dc.subjectZERO COUPON
dc.titleSmall States : Performance in Public Debt Managementen
dspace.entity.typePublication
okr.crossref.titleSm States - Performance in Public Debt Management
okr.date.disclosure2013-02-01
okr.date.doiregistration2025-04-10T07:23:19.554062Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/02/17225559/small-states-performance-public-debt-management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid729991468339270421
okr.identifier.doi10.1596/1813-9450-6356
okr.identifier.externaldocumentum000158349_20130206084004
okr.identifier.internaldocumentum17225559
okr.identifier.reportWPS6356
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/02/06/000158349_20130206084004/Rendered/PDF/wps6356.pdfen
okr.topicPublic Sector Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicInternational Economics and Trade::External Debt
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicPublic Sector Development
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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