Money for Nothing: The Increasing Cost of Foreign Reserve Holdings to Developing Nations
Publication Date: November 2001
Publisher: Center for Economic and Policy Research
Author(s): Dean Baker; Karl Walentin
Research Area: Banking and finance
Keywords: Bank reserves; Social investment; Foreign investment
Type: Report
Abstract:
The rise in the ratio of reserve holdings to GDP among developing nations over the last four decades is a striking but little noted phenomenon. The paper explores this increase in reserves and its enormous cost to developing nations.
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