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Foreign Reserve Adequacy in Sub-Saharan Africa



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Titolo: Foreign Reserve Adequacy in Sub-Saharan Africa Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Descrizione fisica: 1 online resource (38 p.)
Disciplina: 332.410967
Soggetto topico: Foreign exchange - Africa, Sub-Saharan - Econometric models
Bank reserves - Africa, Sub-Saharan - Econometric models
Foreign exchange - Econometric models
Bank reserves - Econometric models
Banks and Banking
Exports and Imports
Macroeconomics
Empirical Studies of Trade
Macroeconomics: Consumption
Saving
Wealth
Monetary Policy
Foreign Aid
International economics
Banking
Terms of trade
Consumption
International reserves
Aid flows
Trade balance
Economic policy
nternational cooperation
Economics
Foreign exchange reserves
Economic assistance
Balance of trade
Soggetto geografico: Congo, Democratic Republic of the
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Contents; I. Introduction; II. Foreign Reserves in sub-Saharan Africa; Figures; 1. Reserves in Months of Imports; Tables; 1. Comparisons of International Reserves Across Regions, 1995-07; III. Shocks Facing Sub-Saharan Africa; 3. Reserves to Short-Term Debt <2, 2007; 4. Frequency Distributions of Key Parameters; 5. Frequency Distributions of Key Parameters; 6. Response of Key Macro Economic Variables to a Large TOT Schock; 7. Response of Key Macroeconomic Variables to a Large Aid Shock; IV. Small Open Economy with Two Goods; V. Simulation Results
8. Optimal Reserve Behavior - Jeanne-Ranciere v.s. Two-Good9. Path of Consumption-Ranciere vs. Two-Good Model; 10. Optimal Reserve Behavior-Two Good Model with both TOT and Aid Shock [I]; 11. Optimal Reserve Behavior-Two Good Model with both TOT and Aid Shock [II]; 12. Actual Level of Reserves to GDP ratio for SSA countries; 13. Sensitivity of Optimal Reserves to Key Parameters; 14. Sensitivity of Optimal Reserves to Key Parameters; 15. Reserve Adequacy for African Countries Using Two-Good Model /1; VI. Conclusion; 16. Country Specific Application-Illustrative Examples.
A1. Benchmark ParametersA2. Simulation Parameters for Countries; References; References
Sommario/riassunto: This paper looks at the question of adequacy of reserves in sub-Saharan African countries in light of the shocks faced by these countries. Literature on optimal reserves so far has not paid attention to the particular shocks facing low-income countries. We use a two-good endowment economy model facing terms of trade and aid shocks to derive the optimal level of reserves by comparing the cost of holding reserves with their benefits as an insurance against a shock. We find that the optimal level of reserves depends upon the size of these shocks, their probability, and the output cost associated with them,.
Titolo autorizzato: Foreign Reserve Adequacy in Sub-Saharan Africa  Visualizza cluster
ISBN: 1-4623-5176-X
1-4527-3495-X
9786612841019
1-282-84101-7
1-4518-7008-6
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788237903321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/150