01766cas a2200253 a 4500 AALejournalIMF003183 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451927726 1018-5941 BD-DhAAL BD-DhAAL Ghosh, Atish. Export Instability and the External Balance in Developing Countries / Atish Ghosh, Jonathan Ostry. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Uncertainty about the export earnings accruing to a country (sometimes referred to as export instability) is an important source of macroeconomic uncertainty in many developing countries. Theory predicts that countries should react to increases in this form of uncertainty by increasing their level of savings. The resulting asset accumulations would then act as the country's insurance against the greater riskiness in its income stream. The paper tests this implication for a large sample of developing countries. In general, the results suggest that developing countries have indeed responded to increases in export instability by building up precautionary savings balances. Mode of access: Internet Ostry, Jonathan. IMF Working Papers; Working Paper ; No. 1994/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/008/001.1994.issue-008-en.xml IMF e-Library