A Note on Private Sector Asset Portfolios in Developing Economies: Econometric Estimates from the Kenyan Economy

Working Papers Series from Centre for the Study of African Economies, University of Oxford

Abstract: This paper provides a set of benchmark estimates of the private sector's income and price elasticities of demand for the asset market components of this class of AGE models calibrated for low-income developing economies. The results presented in this paper are based on the estimation of a cointegrated asset demand system for Kenya, where the private sector is assumed to hold its wealth in terms of five assets and one liability.

Keywords: ECONOMETRICS; EVALUATION; DEVELOPING COUNTRIES; KENYA; FINANCIAL MARKET (search for similar items in EconPapers)
JEL-codes: C10 C13 G11 O11 O41 (search for similar items in EconPapers)
Date: 1996

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