Structure of Monetary Assets in Transition Economies: Financial Innovation and Structural Transformation
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11 mai 2006
- handle: 10670/1.oy3kyj
- hal: hal-00270544
info:eu-repo/semantics/OpenAccess
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Hours (Time) Specie Monetary question Money, Primitive Currency Standard of value Banking Banking industry Commercial banks Agricultural banks Depository institutions Deposits, Bank Demand depositsCiter ce document
Gérard Duchêne et al., « Structure of Monetary Assets in Transition Economies: Financial Innovation and Structural Transformation », HALSHS : archive ouverte en Sciences de l’Homme et de la Société, ID : 10670/1.oy3kyj
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Résumé
Using a panel data set we investigate the specificities of the structure of monetary assets in transition economies. This analysis reveals the main factors standing behind the structure of deposits held with banks (demand or time deposits), as well as the determinants of the trade-off between cash and demand deposits in Central and Eastern European Countries and in Former Soviet Union countries. We show that the strong preference for cash, which appears in transition countries, is related to the extent of the informal sector, to the low efficiency of the banking sector as well as to the massive currency substitutions. The relatively high share of time deposits compared to demand deposits is due to the inefficiency of the banking system and to the low level of development of alternative financial markets.