Currency carry trade and the cost of international reserves in Mexico

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cepal.articleNo7
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2017/24-P
cepal.docTypeRevistas
cepal.jelCodeF31
cepal.jelCodeF32
cepal.jelCodeF38
cepal.jobNumberRVI123_Rozo
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.topicEngECONOMIC GROWTH
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFINANCING AND EXTERNAL DEBT
cepal.topicEngFINANCING FOR DEVELOPMENT
cepal.topicEngMACROECONOMICS
cepal.topicSpaCRECIMIENTO ECONÓMICO
cepal.topicSpaFINANCIAMIENTO PARA EL DESARROLLO
cepal.topicSpaFINANCIAMIENTO Y DEUDA EXTERNA
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorMaldonado, Norma
dc.contributor.authorRozo, Carlos A.
dc.coverage.spatialEngMEXICO
dc.coverage.spatialSpaMEXICO
dc.coverage.temporalEnd2014
dc.coverage.temporalStart2008
dc.date.accessioned2018-04-10T21:04:29Z
dc.date.available2018-04-10T21:04:29Z
dc.date.issued2017-12
dc.description.abstractNational strategies aimed at boosting economic growth following the global financial crisis have spawned monetary imbalances between industrial and emerging economies. By implementing ultra-expansionary monetary policies, the industrial economies drive down interest rates, while the emerging economies tighten their monetary policies by raising rates, thus generating a burgeoning foreign-currency carry trade. Vulnerability is caused by the sudden reversal of such capital flows or the high cost of insuring against this by accumulating reserves. This paper estimates that the cost of reserve accumulation between 2008 and 2014 averaged 1.83% of GDP, so the free capital mobility espoused by the Mexican authorities makes it very costly to play by the rules of financial globalization.
dc.formatTexto
dc.format.extentpáginas. 148-16
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2017/24-P
dc.identifier.urihttps://hdl.handle.net/11362/43451
dc.language.isoeng
dc.physicalDescriptionp. 148-166: gráfs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo123
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordAcarreo de divisas y costo de las reservas internacionales en México
dc.relation.translationUrihttps://hdl.handle.net/11362/42698
dc.rights.coarDisponible
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngFOREIGN EXCHANGE
dc.subject.unbisEngFOREIGN EXCHANGE MARKETS
dc.subject.unbisEngMONETARY RESERVES
dc.subject.unbisEngCOSTS
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaDIVISAS
dc.subject.unbisSpaMERCADOS DE DIVISAS
dc.subject.unbisSpaRESERVAS MONETARIAS
dc.subject.unbisSpaCOSTOS
dc.titleCurrency carry trade and the cost of international reserves in Mexico
dc.type.coarrevista
dspace.entity.typePublication
relation.isAuthorOfPublicationf8d2b606-bd76-4695-98f6-ea080c013eb1
relation.isAuthorOfPublication865e9504-da95-40dc-9f2f-e408ed4f37c1
relation.isAuthorOfPublication.latestForDiscoveryf8d2b606-bd76-4695-98f6-ea080c013eb1
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