Centralized Reserves Pooling for the Asean-5 to China and India

Centralized Reserves Pooling for the Asean-5 to China and India

With the emergence of China and India, the international reserves pooling scheme landscape of ASEAN and its relation to the global economy have changed. This study adopts the Pedroni Panel Cointegration test to examine the long run relationship between the determinants of reserves pooling in Indones...

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Main Author: Ahmad Sazali, Zakaria
Format: Thesis
Language:eng
Published: 2011
Subjects:
HC Economic History and Conditions
Online Access:https://etd.uum.edu.my/3678/1/s804391.pdf
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id my-uum-etd.3678
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
advisor Abdullah, Hussin
topic HC Economic History and Conditions
spellingShingle HC Economic History and Conditions
Ahmad Sazali, Zakaria
Centralized Reserves Pooling for the Asean-5 to China and India
description With the emergence of China and India, the international reserves pooling scheme landscape of ASEAN and its relation to the global economy have changed. This study adopts the Pedroni Panel Cointegration test to examine the long run relationship between the determinants of reserves pooling in Indonesia, Malaysia, the Philippines, Singapore and Thailand (ASEAN-5) and the determinants of reserves pooling in China and India. The determinants of reserves pooling in this study are the total population of the country, real GDP per capita, the volatility of real export receipts, the share of imports in GDP, the volatility of nominal effective exchange rate and fixed capital formation to show reserves pooling behavior. Generally speaking, the results indicate that all of the determinants of reserves pooling in ASEAN-5 have different long run relationship when they are pooled to China and India. It is important to understand the determinants of reserves pooling because each determinant has a different relationship in different models of countries that they are pooled.
format Thesis
qualification_name masters
qualification_level Master's degree
author Ahmad Sazali, Zakaria
author_facet Ahmad Sazali, Zakaria
author_sort Ahmad Sazali, Zakaria
title Centralized Reserves Pooling for the Asean-5 to China and India
title_short Centralized Reserves Pooling for the Asean-5 to China and India
title_full Centralized Reserves Pooling for the Asean-5 to China and India
title_fullStr Centralized Reserves Pooling for the Asean-5 to China and India
title_full_unstemmed Centralized Reserves Pooling for the Asean-5 to China and India
title_sort centralized reserves pooling for the asean-5 to china and india
granting_institution Universiti Utara Malaysia
granting_department College of Arts and Sciences (CAS)
publishDate 2011
url https://etd.uum.edu.my/3678/1/s804391.pdf
_version_ 1747827624511537152
spelling my-uum-etd.36782022-04-11T01:08:57Z Centralized Reserves Pooling for the Asean-5 to China and India 2011 Ahmad Sazali, Zakaria Abdullah, Hussin College of Arts and Sciences (CAS) College of Arts and Sciences HC Economic History and Conditions With the emergence of China and India, the international reserves pooling scheme landscape of ASEAN and its relation to the global economy have changed. This study adopts the Pedroni Panel Cointegration test to examine the long run relationship between the determinants of reserves pooling in Indonesia, Malaysia, the Philippines, Singapore and Thailand (ASEAN-5) and the determinants of reserves pooling in China and India. The determinants of reserves pooling in this study are the total population of the country, real GDP per capita, the volatility of real export receipts, the share of imports in GDP, the volatility of nominal effective exchange rate and fixed capital formation to show reserves pooling behavior. Generally speaking, the results indicate that all of the determinants of reserves pooling in ASEAN-5 have different long run relationship when they are pooled to China and India. It is important to understand the determinants of reserves pooling because each determinant has a different relationship in different models of countries that they are pooled. 2011 Thesis https://etd.uum.edu.my/3678/ https://etd.uum.edu.my/3678/1/s804391.pdf text eng public masters masters Universiti Utara Malaysia Aizenman, J. and Marion, N. (2003). The High Demand for International Reserves in the Far East: What’s Going On?. Journal of the Japanese and International Economies. Aizenman, J. and Marion, N. (2004). International Reserve Holdings with Sovereign Risk and Costly Tax Collection. The Economic Journal,114 (July), 569-591. Aizenman, J. and Lee, J. (2005). International Reserves: Precautionary vs. Mercantilist Views, Theory and Evidence. IMF Working Paper. Washington. Aizenman., J., and Lee, J. 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