Determinants of Foreign Exchange Reserves of Six Countries in Southeast Asia

Abstract

The purpose of this study is to find out and analyze the ratio of Indonesia's foreign exchange reserves to the foreign exchange reserves of other countries in the Southeast Asia region and to find out and analyze how the effect of exchange rates, net exports and economic growth on the foreign exchange reserves of six countries in Southeast Asia. Research results show ratio comparison backup Indonesia's foreign exchange against five ASEAN countries other show that reserve average _ Indonesia's foreign exchange has ratio highest with Vietnam, namely 4.10 and the lowest with Singapore, which is 0.37. If seen results ratio This show that from six major countries in Asia southeast Indonesia only be in order to four with backup foreign exchange the biggest, above Indonesia there are Singapore, Thailand and Malaysia, while those are under Indonesia only Vietnam and the Philippines. Based on results panel data regression with using Fixed effect model shows that exchange rate influential positive significant and growing economy influential negative significant. Temporary export net No influential significant to backup foreign exchange in six ASEAN countries.