Shifting Motives: Explaining the Buildup in Official Reserves in Emerging Markets since the 1980s

Working Paper No. 12/34

Why have emerging market economies (EMEs) been stockpiling international reserves? We find that motives have varied over timevulnerability to current account shocks was relatively important in the 1980s but, as EMEs have become more financially integrated, factors related to the magnitude of potential capital outflows have gained in importance.... READ MORE...

Publication date: January 2012
ISBN 9781463933197

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Publication date: January 2012


Publication date: January 2012