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Journal of the Operational Research Society Volume 70, 2019 - Issue 5
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Original Articles

The sovereign credit and the limited foreign exchange outflow and the liquidity management of foreign exchange reserves

Shibo BianSchool of Statistics and Management, Shanghai University of Finance and Economics, Shanghai, China
,
Wei LiuDepartment of Mathematics and Statistics, York University, Toronto, ON, Canada
&
Dewei ZhangSchool of Statistics and Mathematics, Shanghai Lixin University of Accounting and Finance, Shanghai, ChinaCorrespondence[email protected]
Pages 867-871 | Received 18 Aug 2017, Accepted 20 Apr 2018, Published online: 19 Jun 2018

References

  • Afonso, A., Gomes, P., & Rother, P. (2011). Short-and long-run determinants of sovereign debt credit ratings. International Journal of Finance & Economics, 16(1), 1–15.10.1002/ijfe.v16.1
  • Alfaro, L., & Kanczuk, F. (2009). Optimal reserve management and sovereign debt. Journal of International Economics, 77(1), 23–36.10.1016/j.jinteco.2008.09.005
  • Basu, S. S., Ghosh, A. R., Ostry, J. D., & Winant, P. E. (2017). Managing capital outflows with limited reserves ( Unpublished manuscript, International Monetary Fund).
  • Hur, S., & Kondo, I. O. (2016). A theory of rollover risk, sudden stops, and foreign reserves. Journal of International Economics, 103(11), 44–63.10.1016/j.jinteco.2016.08.006
  • Reusens, P., & Croux, C. (2017). Sovereign credit rating determinants: A comparison before and after the European debt crisis. Journal of Banking & Finance, 77(4), 108–121.10.1016/j.jbankfin.2017.01.006
  • Ringbom, S., Shy, O., & Stenbacka, R. (2004). Optimal liquidity management and bail-out policy in the banking industry. Journal of Banking & Finance, 28(6), 1319–1335.10.1016/S0378-4266(03)00121-3
  • Xavier, F., & Rochet, J.-C. (2008). Microeconomics of banking. Cambridge, MA: MIT Press.
  • Zhang, D., Wang, Y., Wang, J., & Xu, W. (2013). Liquidity management of foreign exchange reserves in continuous time. Economic Modelling, 31(1), 138–142.10.1016/j.econmod.2012.11.053

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