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Econometric Model of Interest Rates on Deposits in Montenegro

Author

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  • Ivana Stešević

    () (UDG- Faculty for international economics, finance and business, Montenegro; Institute for Strategic Studies and Prognoses, Montenegro)

Abstract

Last years econometric models had become very important toll in planning, analyses and prognoses. This paper presents the process and methodology that is used in econometric modeling, with a particular focus on the modeling performed by the Eviews 3.0 software package. The interest rates on deposits in Montenegro will be presented to demonstrate the process of econometric modelling. Interest rates as macroeconomic phenomena determine and harmonize relations between demand and supply for credits; they aid in directing savings into investments, as well as provide adequate returns to participants in the financial market. Given the great importance of interest rates, this paper will define and analyze the factors which determine Montenegrin interest rates on deposits, and also formulates a model to predict these numbers.

Suggested Citation

  • Ivana Stešević, 2008. "Econometric Model of Interest Rates on Deposits in Montenegro," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(3), pages 383-398, September.
  • Handle: RePEc:voj:journl:v:55:y:2008:i:3:p:383-398
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    References listed on IDEAS

    as
    1. Maurice Obstfeld & Alan M. Taylor, 2003. "Globalization and Capital Markets," NBER Chapters,in: Globalization in Historical Perspective, pages 121-188 National Bureau of Economic Research, Inc.
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    4. Levine, Ross & Zervos, Sara, 1998. "Capital Control Liberalization and Stock Market Development," World Development, Elsevier, pages 1169-1183.
    5. Kaminsky, Graciela Laura & Schmukler, Sergio L., 2002. "Short-run pain, long-run gain : the effects of financial liberalization," Policy Research Working Paper Series 2912, The World Bank.
    6. International Monetary Fund, 2004. "Financial Sector Development in the Middle East and North Africa," IMF Working Papers 04/201, International Monetary Fund.
    7. Palle Andersen & Ramon Moreno, 2005. "Financial integration: an overview," BIS Papers chapters,in: Bank for International Settlements (ed.), Globalisation and monetary policy in emerging markets, volume 23, pages 1-8 Bank for International Settlements.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Econometric models; Interest rate on deposits;

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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