The impact of some economic and financial determinants on international reserves in selected Arab oil countries for the period (2005-2023)
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Abstract
The study aims to demonstrate some of the specific factors that explain and influence the levels of accumulation and formation of international reserves, with their components in general and in detail. A number of them were selected, including net foreign direct investment, net foreign portfolio investment, net capital account, trade balance, net worker remittances, oil revenues relative to GDP, total GDP, and the price of Brent crude oil. The dependent variable for this study was the level of international reserves, based on a research problem represented by the existence of variation in two dimensions: the first is in the type and direction of influence on reserve levels, specifically the effect of these explanatory variables on reserve levels. To estimate econometrics model, test the hypotheses, and arrive at the study results, the ARDL technique was adopted, based on the statistical program (EViews12). The study sample included some oil-producing countries (Iraq, Kuwait, Oman) for the period (2005-2023). The study reached a number of results and conclusions, the most prominent of which were: The large and clear differential between the explanatory variables for each term, whether short or long. Based on this, some proposals were formulated, perhaps the most important of which is that future studies be directed towards isolating the variables identified in the study and making them the minimum and controlling variables for any proposed model.
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