Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/3406
Title: Financial dollarization: Short-run determinants in transition economies
Authors: Neanidis, Kyriakos C. 
Savva, Christos S. 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Keywords: Currency risk;Financial dollarization;Short-run variations;Transition economies;Currency risk;Financial dollarization;Short-run variations;Transition economies
Issue Date: Oct-2009
Source: Journal of Banking & Finance, 2009, vol. 33, no. 10, pp. 1860-1873
Volume: 33
Issue: 10
Start page: 1860
End page: 1873
Journal: Journal of Banking & Finance 
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.
URI: https://hdl.handle.net/20.500.14279/3406
ISSN: 03784266
DOI: 10.1016/j.jbankfin.2009.04.017
Rights: © Elsevier
Type: Article
Affiliation : Cyprus University of Technology 
The University of Manchester 
Publication Type: Peer Reviewed
Appears in Collections:Άρθρα/Articles

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