期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2011
卷号：3
期号：4
页码：83
DOI：10.5539/ijef.v3n4p83
出版社：Canadian Center of Science and Education
摘要：This paper examines the behavior of international reserve holdings in East Asia, ASEAN5, and non-ASEAN countries during the period 1970-2005 using panel cointegration and FMOLS. The panel cointegration tests find the existence of long run relationship between international reserve holdings and its determinants. The panel group FMOLS results indicate that current account balance is statistically significant and exert a positive impact on international reserve holdings in East Asia, ASEAN5 and non-ASEAN countries while short term external debt shows a positive and negative impact on international reserve holdings in ASEAN5 and non-ASEAN countries, respectively.
