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Please use this identifier to cite or link to this item: http://ktisis.cut.ac.cy/jspui/handle/10488/5126

Title: Financial dollarization: Short-run determinants in transition economies
Authors: Neanidis, Kyriakos C.
Savva, Christos S.
Σάββα, Χρήστος Σ.
Scientific Field: Social Sciences
Scientific Field: Economics and Business
Subjects: Currency risk
Financial dollarization
Short-run variations
Transition economies
Issue Date: 2009
Publisher: Elsevier
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.
Type: Article
ISSN: 03784266
DOI: http://dx.doi.org/10.1016/j.jbankfin.2009.04.017
Rights: © 2009 Elsevier B.V. All rights reserved.
Affiliation: Cyprus University of Technology
University of Manchester and Centre for Growth and Business Cycle Research
Country: Cyprus
United Kingdom
Journal Type: Subscription Journal
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