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|Title:||Financial dollarization: Short-run determinants in transition economies|
|Authors:||Neanidis, Kyriakos C.|
Savva, Christos S.
|Scientific Field:||Social Sciences|
|Scientific Field:||Economics and Business|
|Citation:||Journal of Banking and Finance, 2009, Volume 33, Issue 10, Pages 1860-1873|
|Abstract:||This paper examines the determinants of financial dollarization in transition economies from a short-run perspective. Using aggregate monthly data of deposit and loan dollarization we study the drivers of short-term fluctuations in dollarization and test their importance at different levels of dollarization. The results provide evidence that (a) the positive (negative) short-run effects of depreciation (monetary expansion) on deposit dollarization are exacerbated in high-dollarization countries; (b) short-run loan dollarization is mainly driven by banks matching of domestic loans and deposits, currency matching of assets and liabilities, international financial integration, and institutional quality; and (c) both types of short-run dollarization are affected by interest rate differentials and deviations from desired dollarization.|
|Rights:||© 2009 Elsevier B.V. All rights reserved.|
|Affiliation:||Cyprus University of Technology|
University of Manchester and Centre for Growth and Business Cycle Research
|Journal type:||peer reviewed|
|Appears in Collections:||Άρθρα/Articles|
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