| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17362 |
| 来源ID | Working Paper 17362 |
| International Reserves and the Global Financial Crisis | |
| Kathryn M.E. Dominguez; Yuko Hashimoto; Takatoshi Ito | |
| 发表日期 | 2011-08-25 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This study examines whether pre-crisis international reserve accumulations, as well as exchange rate and reserve policy decisions made during the global financial crisis, can help to explain cross-country differences in post-crisis economic performance. Our approach focuses not only on the total stock of official reserves held by countries, but also on the decisions by governments to purchase or sell reserve assets during the crisis period. We introduce new data made available through the IMF Special Data Dissemination Standard (SDDS) Reserve Template, which allow us to distinguish interest income and valuation changes in the stock of official reserves from the actively managed component of reserves. We use this novel data to gauge how (and whether) reserve accumulation policies influenced the economic and financial performance of countries during and after the global crisis. Our findings support the view that higher reserve accumulations prior to the crisis are associated with higher post-crisis GDP growth. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w17362 |
| 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/575036 |
| 推荐引用方式 GB/T 7714 | Kathryn M.E. Dominguez,Yuko Hashimoto,Takatoshi Ito. International Reserves and the Global Financial Crisis. 2011. |
| 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 | ||
| w17362.pdf（1389KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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