Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Asia and Pacific Department.
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| ISBN: | 1283516012
9781283516013
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| Notes: | Includes bibliographical references (pages 18-19).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Hong Kong SAR's government faces the dual challenges of volatile revenue and medium term spending pressures arising from a rapidly aging population. Age-related spending pressures raise long-run sustainability concerns, while revenue volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After describing the risks associated with aging, the paper uses value at risk techniques to measure the value of the unanticipated risks posed by volatile revenue. The paper also describes the self-insurance value of Hong Kong SAR's traditionally high fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility.
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| Other form: | Print version: Porter, Nathan, 1971- Guarding against fiscal risks in Hong Kong SAR. [Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2007
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