The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011

We model the demand for official reserves in Latin America during the period 1995-2011. We assume that the main concern of the monetary authorities to demand reserves is the fear of suffering external drains, and its associated output lost. In other words, the so-called precautionary motive drives t...

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Autores:
Cruz, Moritz
Tipo de recurso:
Article of journal
Fecha de publicación:
2015
Institución:
Universidad Nacional de Colombia
Repositorio:
Universidad Nacional de Colombia
Idioma:
spa
OAI Identifier:
oai:repositorio.unal.edu.co:unal/62608
Acceso en línea:
https://repositorio.unal.edu.co/handle/unal/62608
http://bdigital.unal.edu.co/61767/
Palabra clave:
33 Economía / Economics
international reserves
precautionary motive
financial variables
Latin America
financial openness
Rights
openAccess
License
Atribución-NoComercial 4.0 Internacional
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oai_identifier_str oai:repositorio.unal.edu.co:unal/62608
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repository_id_str
spelling Atribución-NoComercial 4.0 InternacionalDerechos reservados - Universidad Nacional de Colombiahttp://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Cruz, Moritz1c5b2780-7eee-4a32-a951-23e2bf59c2f83002019-07-02T21:05:51Z2019-07-02T21:05:51Z2015-07-01ISSN: 2248-4337https://repositorio.unal.edu.co/handle/unal/62608http://bdigital.unal.edu.co/61767/We model the demand for official reserves in Latin America during the period 1995-2011. We assume that the main concern of the monetary authorities to demand reserves is the fear of suffering external drains, and its associated output lost. In other words, the so-called precautionary motive drives the demand for international reserves in the regions. Our econometric results confirm that countries in the region demand ever increasing amounts of foreign exchange to protect themselves against the likelihood of external drains.application/pdfspaUniversidad Nacional de Colombia - Sede Bogotá - Facultad de Ciencias Económicas - Escuela de Economíahttps://revistas.unal.edu.co/index.php/ceconomia/article/view/42611Universidad Nacional de Colombia Revistas electrónicas UN Cuadernos de EconomíaCuadernos de EconomíaCruz, Moritz (2015) The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011. Cuadernos de Economía, 34 (65). pp. 327-347. ISSN 2248-433733 Economía / Economicsinternational reservesprecautionary motivefinancial variablesLatin Americafinancial opennessThe need for official reserves in Latin America: assessing the precautionary motive, 1995-2011Artículo de revistainfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttp://purl.org/redcol/resource_type/ARTORIGINAL42611-243610-1-PB.pdfapplication/pdf302636https://repositorio.unal.edu.co/bitstream/unal/62608/1/42611-243610-1-PB.pdf67436bb81f5bc9735064133637b7830dMD51THUMBNAIL42611-243610-1-PB.pdf.jpg42611-243610-1-PB.pdf.jpgGenerated Thumbnailimage/jpeg5454https://repositorio.unal.edu.co/bitstream/unal/62608/2/42611-243610-1-PB.pdf.jpga4c8c2c1b06a355cd2eaf62ebe8254bfMD52unal/62608oai:repositorio.unal.edu.co:unal/626082023-04-17 23:05:26.461Repositorio Institucional Universidad Nacional de Colombiarepositorio_nal@unal.edu.co
dc.title.spa.fl_str_mv The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
title The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
spellingShingle The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
33 Economía / Economics
international reserves
precautionary motive
financial variables
Latin America
financial openness
title_short The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
title_full The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
title_fullStr The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
title_full_unstemmed The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
title_sort The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011
dc.creator.fl_str_mv Cruz, Moritz
dc.contributor.author.spa.fl_str_mv Cruz, Moritz
dc.subject.ddc.spa.fl_str_mv 33 Economía / Economics
topic 33 Economía / Economics
international reserves
precautionary motive
financial variables
Latin America
financial openness
dc.subject.proposal.spa.fl_str_mv international reserves
precautionary motive
financial variables
Latin America
financial openness
description We model the demand for official reserves in Latin America during the period 1995-2011. We assume that the main concern of the monetary authorities to demand reserves is the fear of suffering external drains, and its associated output lost. In other words, the so-called precautionary motive drives the demand for international reserves in the regions. Our econometric results confirm that countries in the region demand ever increasing amounts of foreign exchange to protect themselves against the likelihood of external drains.
publishDate 2015
dc.date.issued.spa.fl_str_mv 2015-07-01
dc.date.accessioned.spa.fl_str_mv 2019-07-02T21:05:51Z
dc.date.available.spa.fl_str_mv 2019-07-02T21:05:51Z
dc.type.spa.fl_str_mv Artículo de revista
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dc.identifier.issn.spa.fl_str_mv ISSN: 2248-4337
dc.identifier.uri.none.fl_str_mv https://repositorio.unal.edu.co/handle/unal/62608
dc.identifier.eprints.spa.fl_str_mv http://bdigital.unal.edu.co/61767/
identifier_str_mv ISSN: 2248-4337
url https://repositorio.unal.edu.co/handle/unal/62608
http://bdigital.unal.edu.co/61767/
dc.language.iso.spa.fl_str_mv spa
language spa
dc.relation.spa.fl_str_mv https://revistas.unal.edu.co/index.php/ceconomia/article/view/42611
dc.relation.ispartof.spa.fl_str_mv Universidad Nacional de Colombia Revistas electrónicas UN Cuadernos de Economía
Cuadernos de Economía
dc.relation.references.spa.fl_str_mv Cruz, Moritz (2015) The need for official reserves in Latin America: assessing the precautionary motive, 1995-2011. Cuadernos de Economía, 34 (65). pp. 327-347. ISSN 2248-4337
dc.rights.spa.fl_str_mv Derechos reservados - Universidad Nacional de Colombia
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dc.rights.license.spa.fl_str_mv Atribución-NoComercial 4.0 Internacional
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rights_invalid_str_mv Atribución-NoComercial 4.0 Internacional
Derechos reservados - Universidad Nacional de Colombia
http://creativecommons.org/licenses/by-nc/4.0/
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.mimetype.spa.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv Universidad Nacional de Colombia - Sede Bogotá - Facultad de Ciencias Económicas - Escuela de Economía
institution Universidad Nacional de Colombia
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