01878cas a2200265 a 4500 AALejournalIMF009346 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451867152 1018-5941 BD-DhAAL BD-DhAAL Sharma, Sunil. Capital Flows, Financial Integration, and International Reserve Holdings : The Recent Experience of Emerging Markets and Advanced Economies / Sunil Sharma, Woon Choi, Maria Stromqvist. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (36 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 This paper examines the interaction between capital flows and international reserve holdings in the context of increasing financial integration. For emerging markets the sensitivity of reserves to net capital flows was negative in the 1980s, but became positive after the Asian crisis when these countries used net capital flows to build up reserves. For advanced countries, net capital flows had a negative effect on reserves, especially in recent years. Using measures of financial globalization, we also provide evidence that the sensitivity of reserves to net capital flows increased with globalization for emerging markets while it decreased for advanced countries. Mode of access: Internet Choi, Woon. Stromqvist, Maria. IMF Working Papers; Working Paper ; No. 2007/151 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/151/001.2007.issue-151-en.xml IMF e-Library