Source: Capital Flows, Financial Integration, and International Reserve Holdings : The Recent Experience of Emerging Markets and Advanced Economies
Series: IMF Working Papers
Author(s): Sunil Sharma , Woon Choi , and Maria Strömqvist
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 2007
Keywords: sovereign liquidity, stockpiling motive, panel data, net capital flows, net capital, capital markets,
This paper examines the interaction between capital flows and international reserve holdings in the context of increasing financial integration. For emerging markets the sensitivity of reserves to net capital flows...