Series: IMF Working Papers
Author(s): M. Nowak , Ketil Hviding , and Luca Ricci
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2004
Keywords: Foreign exchange volatility, reserve adequacy, exchange rate, exchange rate volatility, effective exchange rate, exchange rate regime, real effective exchange rate, International Finance: General,
This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging market countries. The study employs a panel of 28 countries over the period 1986-2002. Several co...