Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

An Assessment of the New Merchantilism

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism
Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this argument using a framework in which precautionary... READ MORE...

Publication date: June 2007
ISBN 9781451867107
$18.00

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