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Record Nr. |
UNINA9910818024903321 |
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Titolo |
International Reserves in Low Income Countries : : Have they Served As Buffers? |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4639-5082-9 |
1-4639-6854-X |
1-4639-3574-9 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (38 p.) |
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Collana |
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Disciplina |
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Soggetti |
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Foreign exchange reserves - Developing countries |
Finance, Public - Developing countries |
Banks and Banking |
Exports and Imports |
Macroeconomics |
Macroeconomic Analyses of Economic Development |
Open Economy Macroeconomics |
Development Planning and Policy: Trade Policy |
Factor Movement |
Foreign Exchange Policy |
Monetary Policy |
Empirical Studies of Trade |
Trade: General |
Macroeconomics: Consumption |
Saving |
Wealth |
International Investment |
Long-term Capital Movements |
International economics |
Banking |
Finance |
International reserves |
Terms of trade |
Imports |
Consumption |
Foreign direct investment |
Foreign exchange reserves |
Economic policy |
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nternational cooperation |
Economics |
Investments, Foreign |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Event Study Analysis: 1980-2007; A. Methodology; Figures; 1. Definition of Shock Episodes; 2. Identifying the Cost Associated with a Shock; B. Anatomy of Shocks; Tables; 1. Frequency and Size of Shocks; C. Macroeconomic Impact and Cost of Shocks; 2. Frequency and Size of Shocks by Region; 3. Macroeconomic Impact of Shocks; 4. Costs by Type Shocks; D. The Role of International Reserves; 5. Annual Losses and Level of Reserves; E. Robustness Analysis; 6. Costs of External Shocks by Variable and Type of Shock; 3. Frequency and Size of Shocks (25th Percentile) |
7. Costs of External Shocks by Variable and Type of Shock (25th percentile)4. Frequency and Size of Shocks(Whole Sample Distribution); 8. Costs of External Shocks by Variable and Type of Shock (Whole Sample Distribution); 9. Macroeconomic Performance by Level of Reserves and Structural Characteristics ("Closed" Events); III. Global Financial Crisis: 2008-2010; 10. Macroeconomic Impact of the Crisis; 11. Macroeconomic Impact of the Crisis by Level of Reserves; 12. Macroeconomic Performance by Level of Reserves and Structural Characteristics; IV. Conclusions; V. References; VI. Appendix |
A.1: List of VariablesA.2: List of Countries and Structural Characteristics of the Economy; A.3: Shock Variables (1980-2007)-Summary Statistics; A.4: Macroeconomic Variables (1980-2007)-Summary Statistics; A.5: Macroeconomic Impact of Shocks; A.6: Macroeconomic Impact of Shocks (continued); A.1: GDP and Consumption Costs by Type of Shock; A.2: GDP and Consumption Costs by Type of Shock (continued); A.3: GDP Costs by Type of Shock and Level of Reserves; A.4: GDP Costs by Type of Shock and Level of Reserves (continued); A.5: Consumption Costs by Type of Shock and Level of Reserves |
A.6: Consumption Costs by Type of Shock and Level of Reserves (continued)A.7: SDR Allocation; A.8: Macroeconomic Impact of the Crisis |
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Sommario/riassunto |
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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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