Abstract
The empirical evidence derived from the ARDL approach of Pesaran et al. [Pesaran, M.H., Shin, Y., Smith, R.J., 1996. Testing for the existence of a long-run relationship, DAE Working Paper No. 9622, Department of Applied Economics, University of Cambridge] suggests that volatility of external transactions has had a moderate impact on reserve demand in recent years. Instead, asymmetric exchange rate intervention triggered, perhaps, by concerns about India's export competitiveness seems to have contributed to large stockpile of reserves.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
