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Capital Flows, Financial Integration, and International Reserve Holdings [electronic resource] : The Recent Experience of Emerging Markets and Advanced Economies, Sharma, Sunil.

Author/Creator:
Sharma, Sunil.
Publication:
Washington, D.C. : International Monetary Fund, 2007.
Format/Description:
Government document
Book
1 online resource (36 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 07/151.
IMF Working Papers; Working Paper No. 07/151
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Local subjects:
Access to international capital. (search)
Access to international capital markets. (search)
Adverse external shocks. (search)
Buffer stocks. (search)
Capital account crises. (search)
Capital account transactions. (search)
Capital accounts. (search)
Capital flow. (search)
Capital flow reversals. (search)
Capital flows. (search)
Capital markets. (search)
Capital mobility. (search)
Credit market. (search)
Credit market imperfections. (search)
Current account balance. (search)
Current account deficit. (search)
Current account deficits. (search)
Debt service. (search)
Exchange rates. (search)
Financial globalization. (search)
Financial integration. (search)
Financial markets. (search)
Foreign assets. (search)
Foreign exchange. (search)
Global capital account liberalization. (search)
Global financial flows. (search)
Global financial integration. (search)
Global financial stability. (search)
Global liquidity. (search)
Global markets. (search)
Globalization. (search)
Government securities. (search)
Gross domestic product. (search)
Hoarding. (search)
International capital. (search)
International capital markets. (search)
International finance. (search)
International financial. (search)
International financial markets. (search)
International financial shocks. (search)
International financial statistics. (search)
International financial transactions. (search)
Liquid asset. (search)
Net capital flow. (search)
Net net capital. (search)
Risk aversion. (search)
Speculative attacks. (search)
Volatile access to international financial markets. (search)
Volatile capital. (search)
Volatility of capital inflows. (search)
Hong Kong Special Administrative Region of China. (search)
Korea, Republic of. (search)
Saint Lucia. (search)
Singapore. (search)
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.
Notes:
Description based on print version record.
Contributor:
Choi, Woon Gyu.
Sharma, Sunil.
Strömqvist, Maria.
Other format:
Print Version:
ISBN:
1451867158:
9781451867152
ISSN:
1018-5941
Publisher Number:
10.5089/9781451867152.001
Access Restriction:
Restricted for use by site license.