This paper empirically investigates the demand for international reserves (and foreign exchange reserves) during fixed and floating exchange rates periods in three developing countries: Kenya, Mexico and Philippines. Based on theoretical models, three factors are identified as important for the...

This book gathers the proceedings of the ICAFFI International Conference on Accounting, Finance and Financial Institutions. The main topics addressed include: corporate finance, financial markets and asset pricing, empirical finance, taxation, financial risk management, international finance,...