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Examining the Case for an Asian Reserve Pool

In: Exchange Rates, Currency Crisis and Monetary Cooperation in Asia

Author

Listed:
  • Reza Siregar
  • Graham Bird

Abstract

There are at least two important dimensions to the current macroeconomic imbalances plaguing the global economy. First is the rapid stockpiling of reserves by a number of Asian economies since the late 1990s. While Japan and China together account for about half of Asia’s reserve holdings (which stood at well over US$ 2,000 billion), South Korea, Taiwan, Hong Kong, India and Singapore each also hold over US$ 100 billion of reserves (Kim et al. 2005). Second is the issue of the sustainability of the US current account deficit and its resulting implications for the US dollar (Bernanke 2005).

Suggested Citation

  • Reza Siregar & Graham Bird, 2009. "Examining the Case for an Asian Reserve Pool," Palgrave Macmillan Books, in: Ramkishen S. Rajan (ed.), Exchange Rates, Currency Crisis and Monetary Cooperation in Asia, chapter 9, pages 193-214, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-23419-2_9
    DOI: 10.1057/9780230234192_9
    as

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