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International Reserve Adequacy in Central America

Author

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  • Kristin Magnussen

Abstract

Countries’ absolute and relative international reserves adequacy has recently attracted considerable attention. The analysis has however concentrated on the largest and most advanced economies. We apply various methodologies for assessing reserve adequacy in Central America, taking into account the region’s high degree of deposit dollarization. We find that reserve cover is low both in an absolute and relative sense, suggesting further reserve accumulation is an important policy option for reducing vulnerabilities.

Suggested Citation

  • Kristin Magnussen, 2011. "International Reserve Adequacy in Central America," IMF Working Papers 11/144, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:11/144
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    References listed on IDEAS

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    1. Ferhan Salman & Mali Chivakul & Ricardo Llaudes, 2010. "The Impact of the Great Recession on Emerging Markets," IMF Working Papers 10/237, International Monetary Fund.
    2. Olivier J. Blanchard & Mitali Das & Hamid Faruqee, 2010. "The Initial Impact of the Crisis on Emerging Market Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 41(1 (Spring), pages 263-323.
    3. Edwards, Sebastian, 1983. "The Demand for International Reserves and Exchange Rate Adjustments: The Case of LDCs, 1964-1972," Economica, London School of Economics and Political Science, vol. 50(199), pages 269-280, August.
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    Cited by:

    1. Sona Benecka & Lubos Komarek, 2014. "International Reserves: Facing Model Uncertainty," Working Papers 2014/03, Czech National Bank, Research Department.

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