Indeed, empirical research suggests that countries without explicit or implicit access to liquidity tend to hold much higher reserves than the privileged few – only to be blamed by the same privileged few for contributing to global imbalances by hoarding excess reserves.
事实上，实证研究表明，无法直接或间接得到流动性的国家倾向于囤积比少数特权国更多的储备，而这样做又会让少数特权国指责通过囤积外汇储备加剧了全球失衡。