From the figure below,please provide an explanation for the large decline in the growth rate of international reserves held by developing countries in the 2008-2009 period. 
Definitions:
Negative Externalities
Costs suffered by a third party as a result of an economic transaction in which they were not involved, such as pollution.
Positive Externalities
Benefits that affect parties who did not choose to incur that benefit.
Pareto Optimal
A state of distributing resources that precludes the possibility of augmenting the status of any participant or preference without detriment to another.
Positive Externalities
Benefits that are enjoyed by a third-party or society as a whole as a result of an economic transaction or activity, without them directly paying for it.
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