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Gross International reserves: accumulation management, and relation to debt

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  • Luis Dumlao

    (Ateneo de Manila University)

Abstract

This paper narrates pertinent lessons learned from financial crises and how countries have responded to them. With lessons learned comes the reaction to accumulate gross international reserves (GIR). A strength-weakness-opportunity-threat (SWOT) assessment of the present level of GIR of the Philippines is presented. The GIR is also juxtaposed with the debt of the Philippines. It provides insight into whether the debt of the Philippines is more external or internal, and whether it is a problem at all. With the continuing accumulation of debt, its level may have reached the point of excess. The consideration is whether to shift from passive liquidity management to active investment seeking, external debt management, or active inclusion. Classification-F31, F34

Suggested Citation

  • Luis Dumlao, 2013. "Gross International reserves: accumulation management, and relation to debt," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 50(1), pages 1-22, June.
    • Handle: RePEc:phs:prejrn:v:50:y:2013:i:1:p:1-22
    as

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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/888/787
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    References listed on IDEAS

    as
    1. Guillermo Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2013. "Optimal Holdings of International Reserves: Self-insurance against Sudden Stops," Monetaria, CEMLA, vol. 0(1), pages 1-35, January-j.
    2. Eichengreen, Barry, 2012. "Exorbitant Privilege: The Rise and Fall of the Dollar," OUP Catalogue, Oxford University Press, number 9780199642472.
    3. Guillermo Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2013. "Optimal Holdings of International Reserves: Self-insurance against Sudden Stops," Monetaria, Centro de Estudios Monetarios Latinoamericanos, CEMLA, vol. 0(1), pages 1-35, January-j.
    4. Beja, Jr., Edsel, 2009. "The Philippines on debt row," MPRA Paper 16553, University Library of Munich, Germany.
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