This doctoral thesis by Asem Ahmed Abid Al-Tarawneh from Al-Andalus International University examines the factors affecting Jordan's international reserves. The thesis is directed by Luis Alberiko Gil-Alaña and Huthaifa Sameeh Al Qaralleh. It aims to identify the impact of international reserves on Jordan's economy by analyzing annual central bank data from 2000-2021 on reserves, external debt, interest rates, and current accounts. The methodology includes time series analysis and ARDL modeling to determine the relationships between variables.

1. Name : Asem Ahmed Abid Al-Tarawneh
Estudiante de doctorado En la Universidad Internacional Al-
Andalus.
El programa oficial de doctorado adscrito al mismo y el
organismo responsable: el programa de doctorado en
economía, empresa, finanzas e informática.
Título: Factores que afectan las reservas internacionales en
Jordania El marco general.
Director/es de la Tesis : Luis Alberiko Gil-Alaña
Dr./Dra.: Huthaifa Sameeh Al Qaralleh

2. Introduction
 The international reserves are considered as the safety valve
which reduces the negative economic effects that face countries
due to the external crises. The international reserves also play an
important role in supporting the various economic policies
employed by the country, in that the success in managing the
foreigner reserves is reflected on the increased confidence in the
applied economic policies, including the monetary policy. The
amount of reserves is determined according to the classification
adopted by the country in this regard,, a strategy is set Based on
the size and nature of reserves as well as the internal and external
conditions of the country in order to manage those reserves to
maintain their value within the required range The process of
managing the international reserves is considered as one of the
issues that are characterized by complexity.

3. Introduction
 The objectives of managing this money should be
determined, then the objectives of managing the reserves
are arranged according to their importance, Therefore, due
to the importance of the foreign reserves and their multiple
uses, they should be addressed carefully and managed in a
professional way according to certain rules , The level of
foreign reserves is considered as one of the factors
determining the creditor's confidence in the country, in
addition to providing the atmosphere of tranquility for the
foreign investors with regard to the feasibility of
investment in the country.

4. Definition of foreign reserves
 Foreign reserves are those foreign assets that are readily
available to monetary authorities and their control over
direct financing of payment imbalances, and Indirect
regulation of the quantities of these imbalances through
intervention in the exchange markets to influence the
currency exchange rate.
It is required that these reserves be under the control of the
Central Bank, and use them at any time Necessity and speed
to confront or defend the balance of payments imbalance or
the exchange rate of the currency.

5. Balance the expected benefits and the cost of
holding foreign reserves.
 Also, there is a cost to maintaining reserves (because these
reserves have to be Is liquid or close to liquid so that it is ready to
resort to it when necessary and quickly required), and borne by
the national economy as a result of maintaining these reserves,
which are represented in:
The alternative uses (or opportunities) of the resources represented
by these reserves must be sacrificed There is a balance between
cost and social benefit so that the optimum level can be estimated
for reserves. Therefore, there should be a balance between
expected benefits and cost:
* If the expected benefits are less than the cost of these reserves:
there will be an excessive case of them
. (excess reserve)

6. Objectives
 The main objective of the study was defined as follows:
1_ Identifying the impact of foreign reserves on the Jordanian
economy. From this main objective, the following sub-objectives are
derived:
A_ Familiarity with the concept of foreign exchange reserves,
especially that there is an overlap between them and a number of
other terms in the world of economics and financial markets.
B_ Realizing the importance of foreign exchange reserves in the
country and their impact on economic growth by maintaining the
exchange rate and attracting investors.
C_ Determining the best ways to manage foreign exchange reserves,
banks and companies, and the motives behind their acquisition and
development in the national economy.

7. Objectives
D- Identifying the relationship between the management of
foreign exchange reserves and economic growth in the Jordanian
society, which will become clear through the field study.
E_ Familiarity with the concept of economic policy, the goals it
seeks to achieve, the foundations on which it is based, down to the
study of the tools it uses, and the factors of success and failure.
F_ Getting to know the concept of monetary, financial and
commercial policy, and the most important tools it uses, in
addition to the importance of coordination between monetary and
fiscal policy.
J_ Getting to know the concept of foreign direct investment, the
importance it enjoys, and the theories explaining it, in addition to
the great role that economic policy plays in attracting it to the
country.

8. Methodology of use:
In this section, we describe the methodology for retrieval and
analysis of various publications related to (Factors Affecting
International Reserves in Jordan, General Framework), to
identify the most researched topics and to define networks of
scientific collaboration for researchers in this field. ADF is used
to select a file.
latency degree for the variables based on calculating the
probability value , in that when the probability is more than
5%, the index will not be stable .
The test showed that the variables vary in the latency degree
with an integrity among variables; therefore . ARDL model was
used based on the quarterly data during 2000-2021

9. Media and material resources available
 The researcher will use the annual data related to the
Jordanian economy, which was collected from the Central
Bank of Jordan during the period 2000-2021 for each of the
following factors International reserves.
 external debt.
 The interest rate on the overnight deposit allowance.
 current account.

10. temporary planning
 l . Theoretical foundation. I year
 2. Location of the current situation. First semester.
 3. Construction of instruments and validation. Second
semester.
 4.Passing of questionnaires. Second semester.
 5.Descriptive analysis. End of the first year.
 6.Inferential and correlational analyses. Third semester.
 7.Exploitation of descriptive and inferential data. Third
semester.
 8.Analysis of all the information and preparation ofthe final
report.

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