| Description |
1 online resource (44 pages). |
| Physical Medium |
polychrome |
| Description |
text file |
| Series |
IMF working paper ; WP/12/205
|
|
IMF working paper ; WP/12/205.
|
| Note |
Title from PDF title page (IMF Web site, viewed Aug. 14, 2012). |
| Summary |
This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. It uses quantile regression techniques to allow the estimated factors driving reserves holdings to vary along the reserves' holding distribution and tests for equality among the slope coefficients of the various quantile regressions and the overall models. F-tests comparing the inter-quantile differences could not reject the null that the models for the different quantiles of SIs reserve distribution were similar but this was rejected for EMs distribution suggesting that models explaining drivers of reserve holdings should take into account the country's reserve holdings. Empirical analysis suggests that the metric performs better than existing metrics in reducing crisis probabilities in SIs. |
| Bibliography |
Includes bibliographical references. |
| Note |
"Strategy Policy and Review Department." |
|
"August 2012." |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Foreign exchange reserves -- Developing countries.
|
|
Foreign exchange reserves. |
|
Developing countries. |
| Genre/Form |
Electronic books.
|
| Added Author |
International Monetary Fund. Strategy, Policy, and Review Department.
|
| Added Title |
Reserve adequacy in emerging markets and small islands |
| ISBN |
1475529406 electronic book |
|
9781475529401 electronic book |
|
