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A note on private sector asset portfolios in developing economies: econometric estimates from the Kenyan economy

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  • Christopher S. Adam

Abstract

This paper provides a set of benchmark estimates of the private sector's income and price elasticities of demand for the asset market components of this class of AGE models calibrated for low-income developing economies. The results presented in this paper are based on the estimation of a cointegrated asset demand system for Kenya, where the private sector is assumed to hold its wealth in terms of five assets and one liability. The estimating model is based on the almost-ideal demand system developed by Deaton and Muellbauer (1980) and is estimated on quarterly data for the period from 1970 to 1990.

Suggested Citation

  • Christopher S. Adam, 1996. "A note on private sector asset portfolios in developing economies: econometric estimates from the Kenyan economy," CSAE Working Paper Series 1996-01, Centre for the Study of African Economies, University of Oxford.
    • Handle: RePEc:csa:wpaper:1996-01
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    File URL: https://ora.ox.ac.uk/objects/uuid:050740be-a875-4e67-a5b5-597465f1b2cf
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    More about this item

    Keywords

    Asset Portfolios; Developing Country Computable General Equilibirum Models; Applied Econometrics;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • G1 - Financial Economics - - General Financial Markets

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