The Determinants of Holdings of Financial Assets in Australia

Kenneth Clements and John C. Taylor

Australian Journal of Management, 1981, vol. 6, issue 2, 17-26

Abstract: The growth in building societies in Australia over the 1970s mirrors the relative decline in the savings banks. The growth in deposits with building societies is shown to be due mainly to increased total wealth, rather than changes in interest rates. The responsiveness of holdings of four important financial assets to changes in interest rates and wealth is also discussed.

Keywords: ASSET DEMAND ESTIMATION; DECLINE OF SAVINGS BANKS; GROWTH OF BUILDING SOCIETIES; INTEREST RATE AND WEALTH ELASTICITIES (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:6:y:1981:i:2:p:17-26

DOI: 10.1177/031289628100600203

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