G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w19791
来源IDWorking Paper 19791
For a Few Dollars More: Reserves and Growth in Times of Crises
Matthieu Bussière; Gong Cheng; Menzie D. Chinn; Noëmie Lisack
发表日期2014-01-09
出版年2014
语种英语
摘要Based on a dataset of 112 emerging economies and developing countries, this paper addresses two key questions regarding the accumulation of international reserves: first, has the accumulation of reserves effectively protected countries during the 2008-09 financial crisis? And second, what explains the pattern of reserve accumulation observed during and after the crisis? More specifically, the paper investigates the relation between international reserves and the existence of capital controls. We find that the level of reserves matters: countries with high reserves relative to short-term debt suffered less from the crisis, particularly if associated with a less open capital account. In the immediate aftermath of the crisis, countries that depleted foreign reserves during the crisis quickly rebuilt their stocks. This rapid rebuilding has, however, been followed by a deceleration in the pace of accumulation. The timing of this deceleration roughly coincides with the point when reserves reached their pre-crisis level and may be related to the fact that short-term debt accumulation has also decelerated in most countries over this period.
主题International Economics ; International Finance ; Financial Economics
URLhttps://www.nber.org/papers/w19791
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/577465
推荐引用方式
GB/T 7714
Matthieu Bussière,Gong Cheng,Menzie D. Chinn,et al. For a Few Dollars More: Reserves and Growth in Times of Crises. 2014.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Matthieu Bussière]的文章
[Gong Cheng]的文章
[Menzie D. Chinn]的文章
百度学术
百度学术中相似的文章
[Matthieu Bussière]的文章
[Gong Cheng]的文章
[Menzie D. Chinn]的文章
必应学术
必应学术中相似的文章
[Matthieu Bussière]的文章
[Gong Cheng]的文章
[Menzie D. Chinn]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。