Series: IMF Working Papers
Author(s): Holger Floerkemeier , and Mariusz Sumlinski
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2008
Keywords: Balance of Payments Crises, reserve holdings, capital markets, international capital markets, risk aversion, international capital,
In recent years, the South Caucasus and Central Asia countries (CCA-6) have received significant foreign exchange inflows. While a healthy reserve buffer is desirable to selfinsure against external crises, holding...