| Autor: |
Law, Chee-Hong, Soon, Siew-Voon, Ehigiamusoe, K. U. |
| Předmět: |
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| Zdroj: |
Journal of International Commerce, Economics & Policy; Oct2021, Vol. 12 Issue 3, p1-21, 21p |
| Abstrakt: |
This paper investigates the nonlinear effect of institutional quality on the holding of international reserves by applying the two-step system generalized method of moments on data consisting of 67 countries from 1996 to 2016. The hypothesis is that the association between institutional quality and international reserves has an inverted U pattern. The coefficient sign of the institutional quality and its square term supports the hypothesis. Besides, the marginal effects suggest that the higher the institutional quality index, the lower the demand for reserves. The outputs indicate the importance of good institutional quality in reducing the overdependence on international reserves. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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