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|z 9781451865400
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Lee, Jaewoo.
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|a Financial Versus Monetary Mercantilism :
|b Long-Run View of Large International Reserves Hoarding /
|c Jaewoo Lee, Joshua Aizenman.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2006.
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|a 1 online resource (22 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Aizenman, Joshua.
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|a IMF Working Papers; Working Paper ;
|v No. 2006/280
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2006/280/001.2006.issue-280-en.xml
|z IMF e-Library
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