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Demand for international reserves: evidence from East Asia


  • Eliza Nor
  • M. Azali
  • Siong Hook Law


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.

Suggested Citation

  • Eliza Nor & M. Azali & Siong Hook Law, 2009. "Demand for international reserves: evidence from East Asia," American Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 1(3), pages 297-311.
  • Handle: RePEc:ids:amerfa:v:1:y:2009:i:3:p:297-311

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    Cited by:

    1. alamro, Hassan, 2014. "تأثير السياسة المالية على التنافسية السعرية لقطاع الصناعة التحويلية الأردني
      [The impact of fiscal policy on the price competitiveness of the manufacturing sector of Jordan]
      ," MPRA Paper 56286, University Library of Munich, Germany.


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