Naslov
Determinants of financial euroisation in a small open economy: the case of Serbia

Autori
Bošnjak, Mile ; Kordić, Gordana ; Bilas, Vlatka

Izvornik
Economic Annals (0013-3264) LXIII (2018), 218; 9-21

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
financial euroisation ; ARCH ; volatility ; Serbia

Sažetak
This paper examines the phenomenon of financial euroisation in Serbia, focusing on the liability side of the banking system. A time series model is estimated and evaluated using a monthly data sample from January 2007 to January 2016 for Serbia. The results of this paper show that the mean pattern of financial euroisation in Serbia is determined by the exchange rate, inflation, and the interest rate differential. Financial euroisation in Serbia is found to be volatile and to exhibit a clustering pattern. Of the estimated and tested models the ARCH (1) model is found to be best suited to explain the volatile behaviour pattern of financial euroisation in Serbia.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA