全球智库信息集成服务系统(G2TT): Financial Versus Monetary Mercantilism-Long-run View of Large International Reserves Hoarding

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w12718
来源ID	Working Paper 12718
	Financial Versus Monetary Mercantilism-Long-run View of Large International Reserves Hoarding
	Joshua Aizenman; Jaewoo Lee
发表日期	2006-12-01
出版年	2006
语种	英语
摘要	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 precautionary response to the heritage of past financial mercantilism. Monetary mercantilism also lowers the cost of hoarding, but may be associated with negative externalities leading to competitive hoarding.
主题	International Economics ; Trade ; International Finance ; International Macroeconomics ; Globalization and International Relations
URL	https://www.nber.org/papers/w12718
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/570381
推荐引用方式 GB/T 7714	Joshua Aizenman,Jaewoo Lee. Financial Versus Monetary Mercantilism-Long-run View of Large International Reserves Hoarding. 2006.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w12718.pdf（159KB）	智库出版物		限制开放	CC BY-NC-SA	浏览