International reserves for emerging economies: A liquidity approach
نویسندگان
چکیده
منابع مشابه
Growth, Liquidity Provision, International Reserves, and Sovereign Debt Capacity∗
I establish a theoretical framework to address three distinct, but interrelated puzzles in international economics: (1) the occurrence of twin crises, (2) the existence of large amounts of sovereign debt, and (3) the presence of substantial amounts of international reserves. By considering the interaction between growth and banking in a small open economy that is unable to commit to repaying it...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2016
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2016.06.020