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150128 ||| eng |
| 020 |
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|a 9781451865400
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| 100 |
1 |
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|a Lee, Jaewoo
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| 245 |
0 |
0 |
|a Financial Versus Monetary Mercantilism
|b Long-Run View of Large International Reserves Hoarding
|c Jaewoo Lee, Joshua Aizenman
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2006
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| 300 |
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|a 22 pages
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| 651 |
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4 |
|a Japan
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Foreign exchange reserves
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| 653 |
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|a Financial crises
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Currency; Foreign exchange
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| 653 |
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|a Reserves accumulation
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a International reserves
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Financial Institutions and Services: General
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| 653 |
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|a Financial services industry
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| 653 |
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|a Banking
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Financial Risk Management
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Financial sector
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| 653 |
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|a Financial Crises
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| 700 |
1 |
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|a Aizenman, Joshua
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451865400.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2006/280/001.2006.issue-280-en.xml?cid=20066-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a The sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern version of monetary mercantilism-hoarding international reserves in order to improve competitiveness. From a long-run perspective, manufacturing exporters in East Asia adopted financial mercantilism-subsidizing the cost of capital- during decades of high growth. They switched to hoarding large international reserves when growth faltered, making it harder to disentangle the monetary mercantilism from a precautionary response to the heritage of past financial mercantilism. Monetary mercantilism also lowers the cost of hoarding through its short-term boost to external competitiveness, but may be associated with negative externalities leading to competitive hoarding
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