Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
986273 | Review of Development Finance | 2013 | 19 Pages |
Abstract
We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. An estimation to quantify the asset shortage in EMs for 1995–2008 is then undertaken. A theoretical model is developed to explain why asset shortages occur. We then econometrically estimate the causes of asset shortages, and conclude with policy implications.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jiaqian Chen, Patrick Imam,