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Country Insurance
			: The Role of Domestic Policies

Country Insurance : The Role of Domestic Policies »

Series: Occasional Papers

Author(s): Paolo Mauro , Torbjorn Becker , Jonathan Ostry , Romain Ranciere , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

DOI: http://dx.doi.org/10.5089/9781589066076.084

ISBN: 9781589066076

Keywords: Insurance supervision, Insurance legislation, Insurance regulations, bonds, international reserves, domestic currency, currency crises, international financial

...

Exchange Rate Regimes and the Stability of the International Monetary System

Exchange Rate Regimes and the Stability of the International Monetary System »

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

DOI: http://dx.doi.org/10.5089/9781589069312.084

ISBN: 9781589069312

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, exchange rate, exchange rate regime, exchange rates, real exchange rate

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the intern...

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...

1 CHAPTER Introduction

1 CHAPTER Introduction »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

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 global financial crisis has affected the level of reserves in many emerging market and developing countries (EMDCs). The crisis has caused a surge in risk aversion, a decline in capital and trade flows,...

2 CHAPTER Overview of Literature on Reserves Adequacy

2 CHAPTER Overview of Literature on Reserves Adequacy »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

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

There are several motives for central banks to hold foreign exchange reserves: Meeting transaction needs.Reserves may be held to finance foreign excha...

3 CHAPTER Evolution of Reserve Holdings in EAC Countries

3 CHAPTER Evolution of Reserve Holdings in EAC Countries »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

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 EAC countries have accumulated international reserves over the past ten years. A generally favorable international environment and prudent macroeconomic policies have contributed to the accumulation of i...

4 CHAPTER Optimal Reserve Model

4 CHAPTER Optimal Reserve Model »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

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

To complement the analysis, this chapter applies an optimal reserve model to assess the adequacy of reserves in EAC countries. While most optimal reserve models focus on the risk of sudden stops in capital f...

5 CHAPTER Conclusions and Medium-Term Outlook

5 CHAPTER Conclusions and Medium-Term Outlook »

Source: Foreign Exchange Reserve Adequacy in East African Community Countries

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 analysis here suggests that reserve levels in EAC countries include safety buffers, and thus, do not require immediate action. Most indicators used for the analysis indicate that projected reserves at en...

Controlled Capital Account Liberalization

Controlled Capital Account Liberalization »

Source: Controlled Capital Account Liberalization : A Proposal

Volume/Issue: 2005/7

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , and Raghuram Rajan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451975741

Keywords: Capital account liberalization, Capital controls, Capital inflows, Reserves, Foreign exchange reserves, International finance, closed-end mutual fund, international portfolio diversification, capital account, capital outflows

In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion of capital...

Appendix I. Data Sources and Definitions

Appendix I. Data Sources and Definitions »

Source: Country Insurance : The Role of Domestic Policies

Series: Occasional Papers

Author(s): Paolo Mauro , Torbjorn Becker , Jonathan Ostry , Romain Ranciere , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2007

ISBN: 9781589066076

Keywords: Insurance supervision, Insurance legislation, Insurance regulations, bonds, international reserves, domestic currency, currency crises, international financial

Data on per capita GDP are purchasing power-parity-adjusted (1990 international Geary-Khamis dollars), drawn from Maddison (2003). For the purposes of the present study, the sample...