Add to ORKGIn this paper, we approach financial crises from two different aspects: Prevention and Management. Prevention from crises, here sudden stops, will be carried out through international reserves accumulation (Jeanne & Rancière model, 2006). The section of crises management will be undertaken by an International Lender of last Resort (ILOLR), here the International Monetary Fund (IMF). Our study shows that under an optimal level of international reserves, countries should resort to international lending, but the efficiency of this latter depends on countries’ eligibility, i.e their external, budget and financial sustainability
We present a model of the optimal level of international reserves for a small open economy seeking i...
Economic theory has long prescribed international reserves as a federal tool for adjusting one’s eco...
The recent financial crisis teaches important lessons regarding the lender-of-last resort (LLR) func...
In this paper, we approach financial crises from two different aspects: Prevention and Management. P...
The importance of the International reserves (IR) management has increased since the Asian financia...
The main contribution of this paper is to analyze whether the absence of restructuring programs duri...
The determination of international reserve balance for emerging economies is part of the efforts to ...
2006 This Working Paper should not be reported as representing the views of the IMF. The views expre...
The financial turmoil of the second half of the 1990s showed that even some of the most successful a...
Developing countries fall into international financial crises for a variety of reasons, including fi...
This article examines the efforts of the major advanced countries to strengthen the international fi...
This paper tests the importance of precautionary and mercantilist motives in accounting for the hoar...
The recent financial crisis teaches important lessons regarding the lender-of-last resort function. ...
Asia has emerged as the balancing wheel of global finance. The countries of Asia now account for 70 ...
In this paper we study the degree to which Emerging Markets (EMs) adjusted to the global liquidity c...
We present a model of the optimal level of international reserves for a small open economy seeking i...
Economic theory has long prescribed international reserves as a federal tool for adjusting one’s eco...
The recent financial crisis teaches important lessons regarding the lender-of-last resort (LLR) func...
In this paper, we approach financial crises from two different aspects: Prevention and Management. P...
The importance of the International reserves (IR) management has increased since the Asian financia...
The main contribution of this paper is to analyze whether the absence of restructuring programs duri...
The determination of international reserve balance for emerging economies is part of the efforts to ...
2006 This Working Paper should not be reported as representing the views of the IMF. The views expre...
The financial turmoil of the second half of the 1990s showed that even some of the most successful a...
Developing countries fall into international financial crises for a variety of reasons, including fi...
This article examines the efforts of the major advanced countries to strengthen the international fi...
This paper tests the importance of precautionary and mercantilist motives in accounting for the hoar...
The recent financial crisis teaches important lessons regarding the lender-of-last resort function. ...
Asia has emerged as the balancing wheel of global finance. The countries of Asia now account for 70 ...
In this paper we study the degree to which Emerging Markets (EMs) adjusted to the global liquidity c...
We present a model of the optimal level of international reserves for a small open economy seeking i...
Economic theory has long prescribed international reserves as a federal tool for adjusting one’s eco...
The recent financial crisis teaches important lessons regarding the lender-of-last resort (LLR) func...