{"title":"国际储备需求:来自东亚的证据","authors":"Eliza Nor, M. Azali, S. Law","doi":"10.1504/AJFA.2009.026485","DOIUrl":null,"url":null,"abstract":"This paper examines the demand for international reserves in nine East Asian economies during the period 1970-2005 using panel cointegration and Fully Modified Ordinary Least Squares (FMOLS). The panel cointegration tests find the existence of a long-run relationship between the demand for international reserves and its determinants. The panel group FMOLS results indicate that current account balance and total external debt are statistically significant and exert a positive and negative impact, respectively, on the demand for international reserves in East Asia.","PeriodicalId":379725,"journal":{"name":"American J. of Finance and Accounting","volume":"53 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2009-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Demand for international reserves: evidence from East Asia\",\"authors\":\"Eliza Nor, M. Azali, S. Law\",\"doi\":\"10.1504/AJFA.2009.026485\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper examines the demand for international reserves in nine East Asian economies during the period 1970-2005 using panel cointegration and Fully Modified Ordinary Least Squares (FMOLS). The panel cointegration tests find the existence of a long-run relationship between the demand for international reserves and its determinants. The panel group FMOLS results indicate that current account balance and total external debt are statistically significant and exert a positive and negative impact, respectively, on the demand for international reserves in East Asia.\",\"PeriodicalId\":379725,\"journal\":{\"name\":\"American J. of Finance and Accounting\",\"volume\":\"53 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2009-06-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"American J. of Finance and Accounting\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1504/AJFA.2009.026485\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"American J. of Finance and Accounting","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/AJFA.2009.026485","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Demand for international reserves: evidence from East Asia
This paper examines the demand for international reserves in nine East Asian economies during the period 1970-2005 using panel cointegration and Fully Modified Ordinary Least Squares (FMOLS). The panel cointegration tests find the existence of a long-run relationship between the demand for international reserves and its determinants. The panel group FMOLS results indicate that current account balance and total external debt are statistically significant and exert a positive and negative impact, respectively, on the demand for international reserves in East Asia.
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