Abstract
This study analyzes the relationship between foreign reserves accumulation on export and foreign direct investment both short and long-run for the period of 1980-2019. The total reserves minus gold has been utilized in analyzing the impact of foreign reserves accumulation on export and foreign direct investment in 11 Asian-African countries, namely Bangladesh, Ghana, India, Indonesia, Kenya, Nigeria, Pakistan, Philippines, Sri Lanka, Tunisia, and South Africa. Variables such as export, foreign direct investment, and gross fixed capital formation are examined using three methods of analysis: ARDL/PMG method, FMOLS method, and DOLS method, and allow for common correlated effects. The PMG, FMOLS, and DOLS estimations, respectively, show that foreign reserves accumulation has a significant and positive impact on export and foreign direct investment. Keywords: Panel data, export, FDI, foreign reserves accumulation, developing countries JEL Classification: C23, F10, F23, F31, O50
Keywords:
Jel Code:
Article Details
- Year: 2022
- Volume: 43
- Issue: 2
- Pages: 161 - 190
- Accepted: 18.04.2022
-
DOI:
https://doi.org/10.5281/zenodo.16947110 -
Full Text (PDF)
2 Views 2 Downloads
How to Cite?
Muhammad Riyadh Ghozali Lubis, Sallahuddin Hassan (2022). The Impact of Foreign Reserves Accumulation on Macroeconomic Performance: A panel Analysis. Journal of Economic Cooperation and Development, 43(2), 161-190. https://doi.org/10.5281/zenodo.16947110
