أثر اختيار نظام الصرف و وضعية حساب رأس المال على سلوك الاحتياطات الدولية في الدول النامية : دراسة قياسية باستخدام نماذج معطيات Panel

Abstract EN

This study aims to test the effect of exchange rate regime choosing and the capital account situation on the international reserves behavior in developing countries during 2005-2012, we select a sample of 113 developing countries, their international reserves ratios representing between 56% and 67% of the total international reserves in all countries of the world, we used the Panel data models by applying on the model proposed by Aizenman and Lee in 2007, we concluded to the result that the fixed effect of the States model is a better model and the absence of any effect of the status of the capital account and exchange rate fluctuations on international reserves, and can therefore conclude that the changes in the foreign exchange reserves in developing countries is not a result of the status of the capital account (surplus or deficit) or the nature of the exchange rate regime followed in the state (fix or float)