Growth in the International Reserves of Russia, China, and India: A Comparison of Underlying Mechanisms.

The article explores the mechanisms which spurred the growth in the international reserves of Russia, China, and India during the 2000s. It examines the costs incurred by such countries in intervening into exchange markets to maintain exchange rate regimes as well as highlights the measures they have taken to address the 2008 global financial crisis. How each country deal with the outflows of foreign private capital and decreases in demand for imports in developed countries is discussed.