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Políticas para la gestión de activos y pasivos soberanos: Una propuesta para el Tesoro del Perú
[Policies for sovereign asset and liability management: A proposal for the Treasury of Peru]

Author

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  • Jiménez Sotelo, Renzo

Abstract

This essay discusses policies for decision-making related to sovereign debt and treasury operations, based on a partially dollarized economy like Peru. The methodology used is deductive argumentation. To do this, using organizational theory, international norms and standards, and best practices from other countries as a framework of reference, the situation of financial information and the guidelines or policy orientations that were used until recently are examined. Next, the new criteria and tactics proposed are explained and twelve of the most used theories to explain movements in interest rates and exchange rates are examined. Finally, in response to the evidence that supports, or does not, each theory examined and to the particular nature of the State, the final considerations to take into account to approve and apply a policy framework such as the proposed one are discussed.

Suggested Citation

  • Jiménez Sotelo, Renzo, 2012. "Políticas para la gestión de activos y pasivos soberanos: Una propuesta para el Tesoro del Perú [Policies for sovereign asset and liability management: A proposal for the Treasury of Peru]," MPRA Paper 119895, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:119895
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    References listed on IDEAS

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    More about this item

    Keywords

    public debt; public treasury; decision making; financial policy; financial management; risk management; interest rates; exchange rates; strategic foresight;
    All these keywords.

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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