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Household portfolio behaviour: evidence from Middle East economies


  • Bashar Al-Zu'bi
  • Victor Murinde


This article studies household portfolio behaviour for a group of Middle East economies, namely Israel, Jordan and Turkey. Panel unit root and cointegration tests are used to investigate the convergence of household portfolio behaviour; and asset demand equations are estimated in a novel way of comparing the three countries using the Seemingly Unrelated Regression (SUR) model. We identify some common household portfolio behaviour for currency (cash), time deposits, company securities and bank loans, among the economies. However, household portfolio preferences do not respond to exchange rate changes in a uniform way across the three countries.

Suggested Citation

  • Bashar Al-Zu'bi & Victor Murinde, 2011. "Household portfolio behaviour: evidence from Middle East economies," Applied Financial Economics, Taylor & Francis Journals, vol. 21(17), pages 1281-1289.
  • Handle: RePEc:taf:apfiec:v:21:y:2011:i:17:p:1281-1289
    DOI: 10.1080/09603107.2011.570710

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    References listed on IDEAS

    1. Mohsin S. Khan & Abdelhak S Senhadji, 2000. "Financial Development and Economic Growth; An Overview," IMF Working Papers 00/209, International Monetary Fund.
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    Cited by:

    1. Bonizzi, Bruno, 2017. "Institutional investors’ allocation to emerging markets: A panel approach to asset demand," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 47(C), pages 47-64.


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