IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-37152-2_5.html
   My bibliography  Save this book chapter

Why Do Countries Accumulate International Reserves?

In: Economic Management in a Volatile Environment

Author

Listed:
  • V. Yanamandra

Abstract

International reserves were an important subject of the international finance literature in the 1960s and the 1970s, but interest dwindled with the collapse of the Bretton Woods system. The issue received renewed attention after the Asian Financial Crisis (AFC) in 1997 when developing and emerging market economies (EMEs) in Asia (and later the oil producers) started accumulating large stockpiles of reserves. This interest was further augmented by the global financial crisis (GFC) of 2008–2009 wherein some authors pointed to the fact that countries which held more reserves did better than those with lower levels of reserve holdings (Aizenman, 2009a; IMF, 2011). They suggested that the GFC led to a short period of reserve depletion toward the end of 2008 and early 2009, after which there has been a renewed acceleration in reserve accumulation in many of the EMEs.

Suggested Citation

  • V. Yanamandra, 2015. "Why Do Countries Accumulate International Reserves?," Palgrave Macmillan Books, in: Economic Management in a Volatile Environment, chapter 5, pages 90-118, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37152-2_5
    DOI: 10.1057/9781137371522_5
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-37152-2_5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.