International reserve-holding in the developing world: self insurance in a crisis-prone era?

Developing countries’ reserves have increased dramatically in recent years—growing by over 60% since the Asian financial crisis. This paper explores the self-insurance motivation behind this. As a first step, it revisits the literature on international reserve demand. This paper then examines the re...

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Main Author:	Mendoza, Ronald U
Format:	text
Published:	Archīum Ateneo 2004
Subjects:	International reserves Special drawing rights Quantity theory Liquidity at risk Self-insurance Finance Public Affairs, Public Policy and Public Administration
Online Access:	https://archium.ateneo.edu/asog-pubs/114 https://www.sciencedirect.com/science/article/abs/pii/S1566014103000815
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Institution:	Ateneo De Manila University

id	ph-ateneo-arc.asog-pubs-1113
record_format	eprints
spelling	ph-ateneo-arc.asog-pubs-11132020-07-16T08:18:02Z International reserve-holding in the developing world: self insurance in a crisis-prone era? Mendoza, Ronald U Developing countries’ reserves have increased dramatically in recent years—growing by over 60% since the Asian financial crisis. This paper explores the self-insurance motivation behind this. As a first step, it revisits the literature on international reserve demand. This paper then examines the reserve-holding trends in a sample of 65 developing countries. It seeks to answer the following: Have reserves increased across the board or have these been concentrated in a few countries? If so, does it represent a break in previous policy? At what cost? This paper concludes by briefly examining some policy implications and avenues for future research. 2004-01-01T08:00:00Z text https://archium.ateneo.edu/asog-pubs/114 https://www.sciencedirect.com/science/article/abs/pii/S1566014103000815 Ateneo School of Government Faculty Publications Archīum Ateneo International reserves Special drawing rights Quantity theory Liquidity at risk Self-insurance Finance Public Affairs, Public Policy and Public Administration
institution	Ateneo De Manila University
building	Ateneo De Manila University Library
country	Philippines
collection	archium.Ateneo Institutional Repository
topic	International reserves Special drawing rights Quantity theory Liquidity at risk Self-insurance Finance Public Affairs, Public Policy and Public Administration
spellingShingle	International reserves Special drawing rights Quantity theory Liquidity at risk Self-insurance Finance Public Affairs, Public Policy and Public Administration Mendoza, Ronald U International reserve-holding in the developing world: self insurance in a crisis-prone era?
description	Developing countries’ reserves have increased dramatically in recent years—growing by over 60% since the Asian financial crisis. This paper explores the self-insurance motivation behind this. As a first step, it revisits the literature on international reserve demand. This paper then examines the reserve-holding trends in a sample of 65 developing countries. It seeks to answer the following: Have reserves increased across the board or have these been concentrated in a few countries? If so, does it represent a break in previous policy? At what cost? This paper concludes by briefly examining some policy implications and avenues for future research.
format	text
author	Mendoza, Ronald U
author_facet	Mendoza, Ronald U
author_sort	Mendoza, Ronald U
title	International reserve-holding in the developing world: self insurance in a crisis-prone era?
title_short	International reserve-holding in the developing world: self insurance in a crisis-prone era?
title_full	International reserve-holding in the developing world: self insurance in a crisis-prone era?
title_fullStr	International reserve-holding in the developing world: self insurance in a crisis-prone era?
title_full_unstemmed	International reserve-holding in the developing world: self insurance in a crisis-prone era?
title_sort	international reserve-holding in the developing world: self insurance in a crisis-prone era?
publisher	Archīum Ateneo
publishDate	2004
url	https://archium.ateneo.edu/asog-pubs/114 https://www.sciencedirect.com/science/article/abs/pii/S1566014103000815
_version_	1681506757128486912

International reserve-holding in the developing world: self insurance in a crisis-prone era?

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