A Direct Translog Model of India's Household Sector Financial Portfolios

Ganti Subrahmanyam and Sooraj B. Swami
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Ganti Subrahmanyam: National Institute of Bank Management, Pune
Sooraj B. Swami: National Institute of Bank Management, Pune

Indian Economic Review, 1995, vol. 30, issue 2, 265-274

Abstract: The recent developments in India's financial markets are the influx of several new financial instruments and significant growth in some of the existing instruments. To examine the direct impact of these developments, this study has estimated a five-asset direct translog model of household sector's financial portfolios. The empirical evidence indicated that deposit disintermediation was mildly visible shifting household savings towards lending to the private corporate sector. But the apparent significant substitutability between bank deposits and life insurance plus pension funds can pose a threat to the former if the latter were made more attractive through more fiscal concessions.

JEL-codes: G1 G2 (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:dse:indecr:v:30:y:1995:i:2:p:265-274

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