Determinants of foreign exchange reserves in Serbia and North Macedonia

Q3 Economics, Econometrics and Finance

Economic Annals Pub Date : 2020-01-01 DOI:10.2298/eka2026103b

Mile Bošnjak, Vlatka Bilas, Gordana Kordić

引用次数: 2

Abstract

This paper employs a quantile regression approach to explore the determinants and properties of international foreign exchange reserves in Serbia and North Macedonia, at various foreign exchange levels. The observed period covers quarterly data for 2005q1-2019q1. The results reveal quantile-dependent determinants of foreign exchange reserves and enable comparison between the two countries, showing co-movements between monetary policy and economic fluctuations. Following the estimates obtained in this research, the paper compares the role of foreign exchange reserves in Serbia and North Macedonia.

查看原文本刊更多论文

塞尔维亚和北马其顿外汇储备的决定因素

本文采用分位数回归方法探讨塞尔维亚和北马其顿在不同外汇水平上的国际外汇储备的决定因素和性质。所观察的期间包括2005年第一季度至2019年第一季度的季度数据。结果揭示了外汇储备的分位数依赖决定因素，并使两国之间能够进行比较，显示了货币政策与经济波动之间的协同运动。根据本研究得出的估计，本文比较了外汇储备在塞尔维亚和北马其顿的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Economic Annals Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

0.90

自引率

0.00%

发文量

审稿时长

18 weeks

期刊介绍： Economic Annals is an academic journal that has been published on a quarterly basis since 1955, initially under its Serbian name of Ekonomski anali (EconLit). Since 2006 it has been published exclusively in English. It is published by the Faculty of Economics, University of Belgrade, Serbia. The journal publishes research in all areas of economics. The Editorial Board welcomes contributions that explore economic issues in a comparative perspective with a focus on transition and emerging economies in Europe and around the world. The journal encourages the submission of original unpublished works, not under consideration by other journals or publications. All submitted papers undergo a double blind refereeing process. Authors are expected to follow standard publication procedures [Instructions to Authors], to recognise the values of the international academic community and to respect the journal’s Policy.