publication . Article . 2017

OPINIONS ON INTERNATIONAL RESERVES MANAGEMENT - POST CRISIS

MERCEA (HANDRO) PATRICIA AMALIA;
Open Access English
  • Published: 01 Nov 2017 Journal: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie (issn: 1844-7007, eissn: 1844-7007, Copyright policy)
  • Publisher: Academica Brâncuşi
Abstract
The recent crisis demonstrated once again the importance of maintaining an adequate level of the international reserves as part of the defense of a country against the shocks internationally transmitted. Liquidity buffers aided the good functioning of financial systems, and allowed countries to cope with sudden foreign capital stops or to manage massive outflows without facing a costly crisis. This logic has been strengthened in the context of the crisis from 2008, when countries with lots of reserves, such as China or Brazil, came through better than those with lower liquid assets. Economists have argued that developing countries need reserves mainly to cover u...
Subjects
free text keywords: Cash pool multi-currency, global currency, SDR-DST System, monetary policy, international reserves, Special Drawing Rights, Gross domestic product, capital flow, Volatility, Emergent economy, Commercial geography. Economic geography, HF1021-1027, Economics as a science, HB71-74
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