The Use of Reserve Requirements as a Policy Instrument in Latin America

By Carlos Montoro, Ramon Moreno. 2011

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What do we know about the effects of macroprudential policy (2018, unknown): “The former were most widely used in Asia, whereas the latter could be found mostly in Latin American countries (Moreno, 2011; Montoro and Moreno, 2011).”
Reserve requirements and optimal Chinese stabilization policy (2017, background): “Many of these other emerging market economies have open capital accounts, and primarily rely on RR policy as a mechanism for tightening activity without attracting further expansionary capital inflows, as conventional interest rate increases would do (Montoro and Moreno, 2011).”
Macroprudential Policy - A Literature Review (2012, unknown): “Finally, there is tentative evidence – typically from emerging market countries – that reserve requirements used in part for financial stability purposes may have been successful in smoothing private sector credit growth and in stabilizing capital flows (Montoro and Moreno, 2011).”