Financial Versus Monetary Mercantilism Long-Run View of the Large International Reserves Hoarding
| Author/creator | Lee, Jaewoo Author |
| Other author | Aizenman, Joshua Author |
| Format | Electronic |
| Publication Info | Washington : International Monetary Fund |
| Description | 39 p. |
| Supplemental Content | Full text available from NBER Working Papers |
| Supplemental Content | Full text available from Ebook Central - Academic Complete |
| Summary | Annotation The sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern version of monetary mercantilism-hoarding international reserves in order to improve competitiveness. from a long-run perspective, manufacturing exporters in East Asia adopted financial mercantilism-subsidizing the cost of capital- during decades of high growth. They switched to hoarding large international reserves when growth faltered, making it harder to disentangle the monetary mercantilism from a precautionary response to the heritage of past financial mercantilism. Monetary mercantilism also lowers the cost of hoarding through its short-term boost to external competitiveness, but may be associated with negative externalities leading to competitive hoarding. |
| Access restriction | Available only to authorized users. |
| Technical details | Mode of access: World Wide Web |
| Genre/form | Electronic books. |
| ISBN | 9781451909937 |
| ISBN | 1451909934 (E-Book) Active Record |
| Stock number | 00013468 |
Availability
| Library | Location | Call Number | Status | Item Actions |
|---|---|---|---|---|
| Electronic Resources | ✔ Available |