International Reserves in Low Income Countries [electronic resource] : Have they Served As Buffers?.
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TextSeries: IMF Working Papers; Working Paper ; No. 12/7Publication details: Washington, D.C. : International Monetary Fund, 2012Description: 1 online resource (36 p.)ISBN: 1463930569 :ISSN: 1018-5941Subject(s): Current Account | Exchange Rate Regime | Exogenous Shocks | Reserve Adequacy | Reserve Holdings | Terms of Trade | Bhutan | Central African Republic | Congo, Democratic Republic of the | Guinea | Saint Vincent and the GrenadinesAdditional physical formats: Print Version:: International Reserves in Low Income Countries : Have they Served As Buffers?Online resources: IMF e-Library | IMF Book Store Abstract: This paper provides a historical perspective on the role of international reserves in low-income countries as a cushion against large external shocks over the last three decades - including the current global crisis. The results suggest that international reserves have played a role in buffering external shocks, with the resulting macroeconomic costs varying with the nature of the shock, the economy's structural characteristics, and the level of reserves.
This paper provides a historical perspective on the role of international reserves in low-income countries as a cushion against large external shocks over the last three decades - including the current global crisis. The results suggest that international reserves have played a role in buffering external shocks, with the resulting macroeconomic costs varying with the nature of the shock, the economy's structural characteristics, and the level of reserves.
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