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- W6106583 abstract "This study presents empirical estimates of the demand for domestic and foreign cur rency deposits in Kuwait using a cointegration-based error correction representation. The specification of the function is set within the framework of currency substitution such that demand is hypothesised to depend on a composite va riable that takes into account interest rate differential and expected changes in exchange rate. Empirical results show that the demand for domestic currency deposits is cointe grated with differential return, whereas the demand for foreign currency deposits with local banks is not. This is explained by the proposition that currency/asset substitution takes place predominantly between domestic currency deposits and foreign currency deposits/assets held abroad." @default.
- W6106583 created "2016-06-24" @default.
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- W6106583 date "2016-01-01" @default.
- W6106583 modified "2023-09-27" @default.
- W6106583 title "THE DEMAND FOR DOMESTIC AND FOREIGN CURRENCY DEPOSITS IN A SMALL OPEN ECONOMY: THE CASE OF KUWAIT" @default.
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