Empirical Analysis of Demand for International Reserves of China

摘要：

This paper, according to the theory of demand for international reserves, makes empirical analysis of demand for international reserves in China, and find out the econometric model. Then we use co-integration theory to analyze the international reserves of China, and find out the long-term stability equation and short-term adjustment equation of demand for international reserves of China. And we have got the conclusion that demand for international reserves is effected by GDP, difference of exchange rate and risk of foreign debt for long-term. Then we give recommendations for the management of international reserves of China.

关键词： International reserves ADF test Co-integration Error Correction Model

作者: Le Peng Xiangning Wang

作者单位: Dept.of Sta&Fin, University of Science and Technology of China, Hefei, 230026, China

会议类型: 国际会议

会议名称: 第八届武汉电子商务国际会议(The Eighth Wuhan International Conference on E-Business)

会议地点: 武汉

会议语种:英文

页码: 1397-1402

在线出版日期: 2009-05-30（万方平台首次上网日期，不代表论文的发表时间）