Capital flows, financial integration, and international reserve holdings : the recent experience of emerging markets and advanced economies /

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Bibliographic Details
Author / Creator:Choi, Woon Gyu, 1960- author.
Imprint:[Washington, D.C.] : International Monetary Fund, IMF Institute, ©2007.
Description:1 online resource (36 pages) : illustrations
Language:English
Series:IMF working paper ; WP/07/151
IMF working paper ; WP/07/151.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12497675
Hidden Bibliographic Details
Other authors / contributors:Sharma, Sunil, 1958- author.
Strömqvist, Maria, author.
IMF Institute.
International Monetary Fund.
ISBN:1283516683
9781283516686
Notes:Includes bibliographical references (pages 28-31).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper examines the interaction between capital flows and international reserve holdings in the context of increasing financial integration. For emerging markets the sensitivity of reserves to net capital flows was negative in the 1980s, but became positive after the Asian crisis when these countries used net capital flows to build up reserves. For advanced countries, net capital flows had a negative effect on reserves, especially in recent years. Using measures of financial globalization, we also provide evidence that the sensitivity of reserves to net capital flows increased with globalization for emerging markets while it decreased for advanced countries.
Other form:Print version: Choi, Woon Gyu, 1960- Capital flows, financial integration, and international reserve holdings. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2007

MARC

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