Deposit Formation in Georgia
This paper analyzes behavior of the real deposits in Georgia in1996-2009 by modeling demand for the real broad money balances and the cash-deposit ratio. The results suggest that the main factors that affected deposits over those years were income, development of the financial sector, and changes in the tax burden, while changes in the interest rate and inflation played only a minor role. The results also demonstrate importance of the geopolitical events as they affect confidence in the banking sector.
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References listed on IDEAS
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- Beenstock, Michael, 1989.
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"Long-run Income and Interest Elasticities of Money Demand in the United States,"
NBER Working Papers
2949, National Bureau of Economic Research, Inc.
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- Defne Mutluer & Yasemin Barlas, 2002. "Modeling the Turkish Broad Money Demand," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 2(2), pages 55-75.
- Felmingham, Bruce & Zhang, Qing, 2001. "The Long Run Demand For Broad Money in Australia Subject to Regime Shifts," Australian Economic Papers, Wiley Blackwell, vol. 40(2), pages 146-155, June.
- Lubo Komrek & Martin Meleck, 2004. "Money Demand in an Open Transition Economy," Eastern European Economics, M.E. Sharpe, Inc., vol. 42(5), pages 73-73, September.
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