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Drivers of financial de-dollarisation in CCA region.
Zviadadze, Ana ; Baxa, Jaromír (advisor) ; Cahlík, Tomáš (referee)
After the dissolution of the Soviet Union, a number of post-soviet countries are facing a high level of financial dollarisation. This thesis aims to estimate the determinants of both deposit and loan de-dollarisation using panel vector autoregression model. The study covers five countries of Caucasus and Central Asia region within the time frame of 2006:1 to 2017:1. Our findings suggest that deposit de-dollarisation is driven by exchange rate depreciation. On the other hand, a decrease in deposit dollarisation contributes to loan de-dollarisation. We also find out that effective policies toward macroeconomic stability with the development of the financial system can help to a decrease financial dollarisation level. Keywords CCA region, Financial dollarisation, Panel Vector Autoregression. Author's e-mail azviadadze@gmail.com Supervisor's e-mail jaromir.baxa@fsv.cuni.cz

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