An Empirical Reassessment of the Relationship between Interest Rate and Net Export through ASEAN-5’s Foreign Exchange Reserves
Author:
Aminda Renea Shinta1, Kuraesin Ecin1, Agung Syahrum1, Hasnin Hannisa Rahmaniar1, Kusumah Anuraga1, Endri Endri2
Affiliation:
1. Faculty of Economic and Business, Universitas Ibn Khaldun Bogor, Jl. KH Sholeh Iskandar KM 2 Bogor, 16162, INDONESIA 2. Faculty of Economics and Business, Universitas Mercu Buana, Jl. Meruya Selatan No. 1, Kembangan, Jakarta Selatan 11650, INDONESIA
Abstract
The purpose of this study is to determine whether the real impact of interest rates and net exports through ASEAN-5's foreign exchange reserves was significant between 2009 and 2019. This study employs five ASEAN countries with the highest foreign exchange reserves: Indonesia, Malaysia, Singapore, Thailand, and the Philippines. During 2009-2019, the sample was determined using a saturated sampling technique with five countries. The data used is secondary data from the World Bank. In this study, hypothesis testing was performed using Panel Data Analysis with the Views 10 program and a significance level of 5%. (0.05). The findings indicate that interest rates and net exports have an impact on foreign exchange reserves. The findings also show that the two independent variables have an impact on foreign exchange reserves at the same time.
Publisher
World Scientific and Engineering Academy and Society (WSEAS)
Subject
Economics and Econometrics,Finance,Business and International Management
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