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How stable is the demand for international reserves?

Author

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  • Mohsen Bahmani-Oskooee
  • Scott Hegerty

Abstract

Previous research that has tested the stability of the reserve demand function uses panel data, without incorporating any adjustment process into the testing procedure when providing evidence of instability in reserve demand. In this article, we use time-series data, as well as a bounds testing approach to error-correction modelling that incorporates the adjustment process, to show that reserve demand function is stable in 20 of the 22 Organisation for Economic Co-operation and Development (OECD) countries in our study.

Suggested Citation

  • Mohsen Bahmani-Oskooee & Scott Hegerty, 2011. "How stable is the demand for international reserves?," Applied Economics Letters, Taylor & Francis Journals, vol. 18(14), pages 1387-1392.
    • Handle: RePEc:taf:apeclt:v:18:y:2011:i:14:p:1387-1392
    DOI: 10.1080/13504851.2010.537627
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    Cited by:

    1. Chandan Sharma & Sunny K Singh, 2014. "Determinants of International Reserves: Empirical Evidence from Emerging Asia," Economics Bulletin, AccessEcon, vol. 34(3), pages 1696-1703.
    2. Nguyen, Vu Hong Thai & Boateng, Agyenim, 2015. "Bank excess reserves in emerging economies: A critical review and research agenda," International Review of Financial Analysis, Elsevier, vol. 39(C), pages 158-166.

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