Open AccessReserve Pooling in Asia and the Far East
Author(s) -
Charan D. Wadhva
Publication year - 1969
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v9i3pp.309-329
Subject(s) - pooling , commission , payment , east asia , balance of payments , developing country , economics , international trade , economic growth , development economics , geography , china , international economics , finance , archaeology , artificial intelligence , computer science
One of the forms of payments arrangements among the developingcountries recognized by the Group of Experts appointed by United NationsConference on Trade and Development (UNCTAD) [6] is the establishment ofa reserve fund by pooling the reserves of the interested countries. TheCommittee on Invisibles and Financing Related to Trade of UNCTADrecommended that "the pooling of the reserves of the developingcountries in particular regions should be considered" [7, Annex I, p.9]. While a great deal of talk about other forms of paymentsarrangements has been going on in the region denned by the UnitedNations Economic Commission for Asia and the Far East (to be called Asiaand the Far East region in the paper) i, not much has yet been thoughtabout the possibilities of the formation of reserve funds on regional orsubregional basis as a possible measure toward the cherished goal ofregional economic cooperation unanimously adopted at the MinisterialConference on Asian Econo¬mic Cooperation held in Manila [9]. Thepurpose of this paper is to theoretically examine the rationale forreserve pooling among a group of countries and then to apply this theoryto explore the possibilities of gains from reserve pooling on bothregional and subregional basis in Asia and the Far Eastregion.