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Assessing Reserve Adequacy in Low-Income Countries

Assessing Reserve Adequacy in Low-Income Countries »

Series: Occasional Papers

Author(s): Valerio Crispolti , Era Dabla-Norris , Jun Kim , Kazuko Shirono , and George Tsibouris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2013

DOI: http://dx.doi.org/10.5089/9781616354121.084

ISBN: 9781616354121

Keywords: External shocks, reserve holdings, consumption growth, terms of trade, current account

Low-income countries routinely experience exogenous disturbances—sharp swings in the terms of trade, export demand, natural disasters, and volatile financial flows—that contribute to higher volatility...

Problems of international Money, 1972-85

Problems of international Money, 1972-85 »

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 1996

DOI: http://dx.doi.org/10.5089/9780939934584.071

ISBN: 9780939934584

Keywords: balance of payments, financial intermediation, international financial, reserve holdings, exchange rate

This paper analyzes problems of international money. The paper highlights that there are three chief economic evils-starvation and poverty in the Third World, unemployment in industrial countries, and price inflati...

Insurance Value of International Reserves

Insurance Value of International Reserves »

Source: Insurance Value of International Reserves : An Option Pricing Approach

Volume/Issue: 2004/175

Series: IMF Working Papers

Author(s): Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451858785

Keywords: option, underlying asset, international reserves, reserve holding, external debt, currency crises, reserve holdings, Open Economy Macroeconomics,

A quantitative framework is developed to bring forward the insurance motive of holding international reserves. The insurance value of reserves is quantified as the market price of an equivalent option that provides...

Réflexions à propos d'un Fonds monétaire international utilisant exclusivement le DTS

Réflexions à propos d'un Fonds monétaire international utilisant exclusivement le DTS »

Series: Pamphlet Series

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1979

Language: French

DOI: http://dx.doi.org/10.5089/9781451950939.054

ISBN: 9781451950939

Keywords: reserve tranche, monetary fund, reserve tranche positions, reserve positions, balance of payments, credit tranches, general resources account, sdr holdings, expenditure, international monetary system

...

Holding International Reserves in an Era of High Capital Mobility

Holding International Reserves in an Era of High Capital Mobility »

Source: Holding International Reserves in an Era of High Capital Mobility

Volume/Issue: 2002/62

Series: IMF Working Papers

Author(s): Robert Flood , and Nancy Marion

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2002

ISBN: 9781451848298

Keywords: capital mobility, reserve holdings, equation, skewness, central bank, statistics,

Why do countries hold so much international reserves? Global reserve holdings (excluding gold) were equivalent to 17 weeks of imports at the end of 1999. That is almost double what they were at the end of 1960 and...

Foreign Exchange Reserve Adequacy in East African Community Countries

Foreign Exchange Reserve Adequacy in East African Community Countries »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

Volume: 09

Series: Departmental Papers / Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2009

ISBN: 9781462366682

Keywords: East Africa, SDRs, Reserve requirements, Reserves adequacy, reserve holdings, external shocks, trade shocks, terms-of-trade shocks, international reserves

The concomitant external shocks experienced in 2008-09 by the East African Community (EAC) countries of Kenya, Rwanda, Tanzania, and Uganda and stepped-up support by the IMF—including the SDR allocation&#x20...

Does the SDR System Generate Permanent Resource Transfers?

Does the SDR System Generate Permanent Resource Transfers? »

Source: Does the SDR System Generate Permanent Resource Transfers?

Volume/Issue: 1988/33

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 April 1988

ISBN: 9781451979077

Keywords: reserve assets, capital markets, private capital markets, balance of payments, reserve holdings

The paper analyzes whether the SDR system generates permanent resource transfers—i.e., transfers of resources that do not involve equivalent quid pro quos. It is argued that SDR allocation only gives rise to...

The Demand Cor International Reserves and their Opportunity Cost

The Demand Cor International Reserves and their Opportunity Cost »

Source: The Demand Cor International Reserves and their Opportunity Cost

Volume/Issue: 1988/105

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 December 1988

ISBN: 9781451947328

Keywords: reserve holdings, international reserves, financial markets, international financial markets, international borrowing

An empirical study that shows that countries’ reserve holdings are sensitive to the rates at which they can borrow on international financial markets, this analysis confirms the view that holding major curre...

International Reserves in Low Income Countries

International Reserves in Low Income Countries »

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

Volume/Issue: 2012/7

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463930561

Keywords: Reserve adequacy, exogenous shocks, terms of trade, current account, reserve holdings, exchange rate regime,

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 crisi...

External Adjustment and the Optimal Demand for International Reserves

External Adjustment and the Optimal Demand for International Reserves »

Source: External Adjustment and the Optimal Demand for International Reserves

Volume/Issue: 1989/90

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 October 1989

ISBN: 9781451951844

Keywords: reserve holdings, balance of payments, external borrowing, adjustment period, reserve management

This paper provides a theoretical underpinning for the major determinants of optimal reserve demand in the case where fundamental disequilibrium constitutes a key element governing reserve management. Emphasis is g...