Financial Versus Monetary Mercantilism : : Long-Run View of Large International Reserves Hoarding / / Jaewoo Lee, Joshua Aizenman
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| Autore: |
Lee Jaewoo
|
| Titolo: |
Financial Versus Monetary Mercantilism : : Long-Run View of Large International Reserves Hoarding / / Jaewoo Lee, Joshua Aizenman
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2006 |
| Descrizione fisica: | 1 online resource (24 p.) |
| Soggetto topico: | Mercantile system - East Asia - Mathematical models |
| Balance of trade - East Asia | |
| Banks and Banking | |
| Financial Risk Management | |
| Foreign Exchange | |
| Industries: Financial Services | |
| Monetary Policy | |
| Financial Institutions and Services: General | |
| Financial Crises | |
| Banking | |
| Economic & financial crises & disasters | |
| Currency | |
| Foreign exchange | |
| International reserves | |
| Financial sector | |
| Reserves accumulation | |
| Financial crises | |
| Real exchange rates | |
| Foreign exchange reserves | |
| Financial services industry | |
| Soggetto geografico: | Japan |
| Altri autori: |
AizenmanJoshua
|
| Note generali: | "December 2006." |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | ""Contents""; ""I. OVERVIEW""; ""II. FINANCIAL VERSUS MONETARY MERCANTILISM OVER THE DECADES: 1970� 2005""; ""III. THE HAZARD OF COMPETITIVE HOARDING""; ""IV. BANK FRAGILITY: ON THE OBSERVATION EQUIVALENCE OF MONETARY MERCANTILISM AND SELF- INSURANCE""; ""V. CONCLUSION""; ""REFERENCES"" |
| Sommario/riassunto: | The sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern version of monetary mercantilism-hoarding international reserves in order to improve competitiveness. From a long-run perspective, manufacturing exporters in East Asia adopted financial mercantilism-subsidizing the cost of capital- during decades of high growth. They switched to hoarding large international reserves when growth faltered, making it harder to disentangle the monetary mercantilism from a precautionary response to the heritage of past financial mercantilism. Monetary mercantilism also lowers the cost of hoarding through its short-term boost to external competitiveness, but may be associated with negative externalities leading to competitive hoarding. |
| Titolo autorizzato: | Financial Versus Monetary Mercantilism |
| ISBN: | 1-4623-7199-X |
| 1-4527-8948-7 | |
| 1-282-56518-4 | |
| 9786613822512 | |
| 1-4519-0993-4 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788518703321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2006/280