OPREM Foreign Exchange Reserve Dataset

Principal Investigator(s):  View help for Principal Investigator(s) Abdul-Rashid Abdul-Rahaman, Jiangsu University

Version:  View help for Version V1

Name File Type Size Last Modified
Reserves Model Yearly Analysis_revised.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 66.3 KB 08/04/2022 07:16:AM
Sensitivity Analysis_monhly analysis.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 63.1 KB 08/04/2022 07:16:AM
oprem monthly analysis_revised.xlsx application/vnd.openxmlformats-officedocument.spreadsheetml.sheet 293.2 KB 08/04/2022 09:21:AM

Project Citation: 

Abdul-Rahaman, Abdul-Rashid. OPREM Foreign Exchange Reserve Dataset. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-09-08. https://doi.org/10.3886/E178621V1

Project Description

Summary:  View help for Summary Using Least Square Residual Minimization techniques, this paper develops a reserve model that optimizes the cost of holding reserves and also assists in fixing optimal reserve levels that double as better predictors of economic trends. This paper concludes that the developed reserve model in this research is better positioned to eliminate the procyclicality and perverse rush in reserve build-ups experienced in developing and emerging countries by effectively setting the reserve stock against economic trends. Wrapping up, the research fixes a benchmark of 0.7 –to 1.2 of the previous year's optimal value as the optimal reserves. This benchmark is only appropriate when the past optimal value is known. However, in the absence of this knowledge, a benchmark between 2 to 6 times of the average inflows in an economy is recommended for short-term analysis or analysis with small data observations. However, for long-term analysis or analysis with large data frequency (i.e. exceeding 13 data observations), the reserve stock should be fixed on a benchmark of 2 to 9 times of the average inflows.
Funding Sources:  View help for Funding Sources National Natural Science Foundation of China (71701082)

Scope of Project

Subject Terms:  View help for Subject Terms Bank of Ghana; Foreign Exchange reserve; central banking; Monetary Policy; Optimizationm
Geographic Coverage:  View help for Geographic Coverage Ghana
Time Period(s):  View help for Time Period(s) 1/31/2000 – 12/31/2016
Collection Date(s):  View help for Collection Date(s) 11/25/2018 – 12/10/2018
Universe:  View help for Universe Ghana
Data Type(s):  View help for Data Type(s) administrative records data; aggregate data
Collection Notes:  View help for Collection Notes Bank of Ghana Database, and Personal computations

Methodology

Response Rate:  View help for Response Rate n/a
Sampling:  View help for Sampling n/a
Collection Mode(s):  View help for Collection Mode(s) other
Scales:  View help for Scales n/a
Weights:  View help for Weights n/a
Geographic Unit:  View help for Geographic Unit n/a

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Published Versions

V1 [2022-09-08]

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