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Managing Fiscal Risk

In: The International Handbook of Public Financial Management

Author

Listed:
  • Murray Petrie

Abstract

Fiscal risk has been the subject of increasing attention over the last two decades. The financial crises of the 1990s, the extensive use of guarantees by transition economies, and the global financial crisis (GFC) and sovereign debt crisis have all shown that even apparently sound budget and debt positions can be subject to large hidden risks from off-budget or off-balance sheet fiscal activities and implicit liabilities. Pressures to reduce budget deficits and debt continue to induce some governments to shift activities off-budget or off-balance sheet in ways that often increase cost and risk.

Suggested Citation

  • Murray Petrie, 2013. "Managing Fiscal Risk," Palgrave Macmillan Books, in: Richard Allen & Richard Hemming & Barry H. Potter (ed.), The International Handbook of Public Financial Management, chapter 28, pages 590-618, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31530-4_29
    DOI: 10.1057/9781137315304_29
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    Cited by:

    1. Adriana Elena PORUMBOIU & Petre BREZEANU, 2020. "The Lawsuits Romania Loses at European Court of Human Rights - Judicial Vulnerability, Fiscal Consequences," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(22), pages 51-57, November.

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