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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 |
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