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Regional Pooling of International Reserves: The L atin A merican R eserve F und in Perspective
Author(s) -
Rosero Luis D.
Publication year - 2014
Publication title -
latin american policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.195
H-Index - 4
eISSN - 2041-7373
pISSN - 2041-7365
DOI - 10.1111/lamp.12032
Subject(s) - pooling , perspective (graphical) , institution , business , political science , computer science , law , artificial intelligence
Established in 1976 as the A ndean R eserve F und, the L atin A merican R eserve F und continues to be a central component of the regional financial architecture in L atin A merica. As the only institution of its kind in the region, this Fund provides valuable insight into the feasibility of mechanisms of regional cooperation aimed at improving the efficiency of financial crisis prevention and management. This is especially important in light of the fact that countries in the region have unilaterally accumulated unprecedented amounts of international reserves over the past couple of decades. This article empirically assesses the effectiveness of the Fund's interventions while providing an institutional analysis of its current and future viability.