Accumulation of International Reserves in Latin America: The Mexican Case
José Rafael Pineda Albarrán
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José Rafael Pineda Albarrán: Faculdad de Economia, Universidad Nacional Autónoma de México (UNAM), Ciudad de México
Economia Internazionale / International Economics, 2024, vol. 77, issue 1, 63-90
Abstract:
This article has two objectives. First, it identifies the motivations behind the accelerated accumulation of reserves in Latin American countries in recent decades arguing that it was triggered by the need to create a shield to protect themselves from the series of financial crises that occurred with great frequency during the 1990s. Second, it analyses how Mexico has accumulated reserves, describing its administrative, legal and accounting framework and highlighting the problems of development associated with the cost of keeping them. L’accumulo di riserve internazionali nell’America Latina: il caso del Messico Questo articolo ha due obiettivi. Il primo di questi è quello di identificare i motivi che hanno portato all’accelerazione dell’accumulo di riserve da parte dei paesi latino-americani negli ultimi decenni. Si ipotizza che tale accumulo sia stato causato dal bisogno di crearsi una protezione da eventuali crisi finanziarie rivelatesi molti frequenti durante gli anni 90. Il secondo obiettivo dell’articolo è analizzare come il Messico ha accumulato queste riserve, sulla base della sua struttura amministrativa, legale e contabile. Contestualmente si evidenziano i problemi di sviluppo associati al costo del mantenimento delle riserve accumulate.
Keywords: International Reserves; Monetary Policy; Financial Liberalization; Central Bank (search for similar items in EconPapers)
JEL-codes: E52 E58 F30 F33 (search for similar items in EconPapers)
Date: 2024
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