Table 1.

Data and measurement of variables

AcronymDescriptionSource
RESRatio of gross official reserves to GDPMaldives monetary authority (MMA)
VolexVolatility of exportsMMA (estimated)
VolerVolatility of exchange rateMMA (estimated)
VolimpVolatility of importsMMA (estimated)
PCIReal per capita GDPMMA
STDShort-term debt to GDPMMA
OILPCrude oil price in US$MMA
MSMoney supply to GDPMMA
IRMarket yield on US treasury securitiesMMA
COVID-DummyCOVID-19 dummy. It is taken 2020 as ‘1’ and other periods ‘0’MMA

Note(s): This table describes all variables used in this paper and data collection of these variables from different sources

Source(s): Table by authors’

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