Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run

In this paper, we examine long-run determinants of cross-country variation in reserve volatility for 30 emerging market economies from 1973 to 2000. Reserve holdings and openess are found to be the most important explanatory variables of reserve volatility. The empirical results are robust for a range of control variables, including monetary variables, the degree of financial development, and the level of indebtedness. We view these results as establishing stylized facts that may be helpful in evaluating reserve volatility as a crisis indicator.

Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years

In this paper, we examine external, monetary, and structural determinants of cross-country variation in reserve volatility for 30 emerging market economies from 1973 to 2000. We find that reserve holdings and openess to be the most important determinants of reserve volatility. These results are robust for a range of control variables, including monetary variables, the degree of financial development, and the level of indebtness. We view these results as establishing interesting stylized facts that may be helpful in evaluating reserve ubncertainty as a crises indicator.

Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run

In this paper, we examine long-run determinants of cross-country variation in reserve volatility for 30 emerging market economies from 1973 to 2000. Reserve holdings and openness are found to be the most important explanatory variables of reserve volatility. The empirical results are robust for a range of control variables, including monetary variables, the degree of financial development, and the level of indebtedness. We view these results as establishing interesting stylized facts that may be helpful in evaluating reserve volatility as a crisis indicator

Understanding Reserve Volatility in Emerging Markets: A Look at the Last Thirty Years

In this paper, we examine external, monetary, and structural determinants of crosscountry variation in reserve volatility for 30 emerging market economies from 1973 to 2000. We find that reserve holdings and openness to be the most important determinants of reserve volatility. These results are robust for a range of control variables, including monetary variables, the degree of financial development, and the level of indebtedness. We view these results as establishing interesting stylized facts that may be helpful in evaluating reserve uncertainty as a crisis indicator

Understanding Reserve Volatility in Emerging Markets: A Look at the Long-Run

In this Paper, we examine long-run determinants of cross-country variation in reserve volatility for 30 emerging market economies from 1973-2000. Reserve holdings and openness are found to be the most important explanatory variables of reserve volatility. The empirical results are robust for a range of control variables, including monetary variables, the degree of financial development, and the level of indebtedness. We view these results as establishing interesting stylized facts that may be helpful in evaluating reserve volatility as a crisis indicator.emerging markets; openness; reserve volatility

Understanding reserve volatility in emerging markets A look at the long run

Includes bibliographical references. Also available via the InternetAvailable from British Library Document Supply Centre- DSC:3597. 9512(no 3908) / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo