- Tytuł:
- DETERMINANTS OF THE DEMAND FOR INTERNATIONAL RESERVES IN UKRAINE
- Autorzy:
- Shevchuk, Victor
- Powiązania:
- https://bibliotekanauki.pl/articles/453559.pdf
- Data publikacji:
- 2015
- Wydawca:
- Szkoła Główna Gospodarstwa Wiejskiego w Warszawie. Katedra Ekonometrii i Statystyki
- Tematy:
-
international reserves
imports
exchange rate
money stock - Opis:
- This study investigates the demand for international reserves in Ukraine and its structural change in the wake of the 2008-2009 financial crisis in the context of a univariate error correction model (ECM). We find a time-invariant demand for international reserves in the short-run, with the inverse relationship with the volatility of international transactions, exchange rate depreciation and the excessive money stock and the positive link to imports and crisis developments. However, the long-term relationships are not stable over time, except for the effects of the money disequilibrium and crisis disturbances. The exchange rate depreciation and electoral cycle contribute to a depletion of reserves during the post-crisis period only. The adjustment of actual reserves to their long-run relationships is quite rapid.
- Źródło:
-
Metody Ilościowe w Badaniach Ekonomicznych; 2015, 16, 2; 102-112
2082-792X - Pojawia się w:
- Metody Ilościowe w Badaniach Ekonomicznych
- Dostawca treści:
- Biblioteka Nauki
Artykuł