Structure of Monetary Assets in Transition Economies: Financial Innovation and Structural Transformation

Gérard Duchêne (), Ramona Jimborean and Boris Najman ()
Additional contact information
Gérard Duchêne: ERUDITE - Equipe de Recherche sur l’Utilisation des Données Individuelles en lien avec la Théorie Economique - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique
Boris Najman: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, GRATICE - EA3488 Groupe de recherche et d'analyse des théories, institutions et conventions économiques - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12

Post-Print from HAL

Abstract: 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.

Keywords: transition economics; money demand; cash deposit ratio (search for similar items in EconPapers)
Date: 2006-05-11
Note: View the original document on HAL open archive server: https://hal.science/hal-00270544v1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Développements récents en Economie Financière, aspects microéconomiques et macroéconomiques., May 2006, Strasbourg, France

Downloads: (external link)
https://hal.science/hal-00270544v1/document (application/pdf)

Related works:
Working Paper: Structure of Monetary Assets in Transition Economies: Financial Innovation and Structural Transformation (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00270544

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().