01827cas a2200253 a 4500 AALejournalIMF009856 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451869033 1018-5941 BD-DhAAL BD-DhAAL Floerkemeier, Holger. International Reserve Trends in the South Caucasus and Central Asia Region / Holger Floerkemeier, Mariusz Sumlinski. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (27 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 In recent years, the South Caucasus and Central Asia countries (CCA-6) have received significant foreign exchange inflows. While a healthy reserve buffer is desirable to selfinsure against external crises, holding international reserves also involves costs. We analyze the adequacy of CCA-6 reserves using widely recognized rules of thumb, and simulate optimal reserve levels applying the Jeanne (2007) model. Both the adequacy measures and the model-based simulations indicate that, with the exception of Tajikistan, CCA-6 reserves had increased to broadly comfortable levels by 2006. More recently, reserve adequacy has been tested in Kazakhstan, which has been affected by the 2007 global liquidity crunch. Mode of access: Internet Sumlinski, Mariusz. IMF Working Papers; Working Paper ; No. 2008/041 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/041/001.2008.issue-041-en.xml IMF e-Library