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The New Public Finance$
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Inge Kaul and Pedro Conceiçāo

Print publication date: 2006

Print ISBN-13: 9780195179972

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195179972.001.0001

Managing Risks to National Economies

The Role of Macro Markets

Chapter:
(p. 152 ) Managing Risks to National Economies
Source:
The New Public Finance
Author(s):

Robert J. Shiller

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195179972.003.0006

This chapter proposes a system for providing substantial foreign aid to countries that have suffered most in their economic progress. It considers how risk-sharing agreements between governments could better manage national risk and describes how the same objective could be achieved by relying on private actors and decentralized markets. It details the steps and processes involved in developing a national risk management system and evaluates the role of macro markets in managing public finance risks.

Keywords:   foreign aid, risk-sharing, risk management, macro markets, public finance

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