Asset Portfolios and Credit Rationing: Evidence from Kenya
Christopher Adam ()
Economica, 1999, vol. 66, issue 261, 97-117
This paper presents a model of the private sector's demand for financial and real assets in Kenya for the period 1973--90. The private sector is assumed to hold its wealth in terms of five assets but is quantity-rationed in the credit market. The model is estimated as a cointegrated demand system, based on the almost-ideal demand system of A. Deaton and J. Muellbauer (1980). The model highlights the role of real asset accumulation in offering a hedge against inflation and the role of credit rationing in the composition of wealth. Copyright 1999 by The London School of Economics and Political Science
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://www.blackwell-synergy.com/servlet/useragent ... =261&year=&part=null link to full text (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:econom:v:66:y:1999:i:261:p:97-117
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0013-0427
Access Statistics for this article
Economica is currently edited by Frank Cowell, Tore Ellingsen and Alan Manning
More articles in Economica from London School of Economics and Political Science Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().