International Reserves in Low Income Countries : : Have they Served As Buffers?

• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
• Descrizione fisica: 1 online resource (38 p.)
• Soggetto topico: 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; nternational cooperation; Economics; Investments, Foreign
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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
• Sommario/riassunto: 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.
• Titolo autorizzato: International Reserves in Low Income Countries
• ISBN: 1-4639-5082-9; 1-4639-6854-X; 1-4639-3574-9
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910789906103321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2012/007