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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