The Liquidity and Liquidity Distribution Effects in Emerging Markets : The Case of Jordan

The Case of Jordan

The Liquidity and Liquidity Distribution Effects in Emerging Markets : The Case of Jordan
This paper analyzes the determinants of daily changes in Jordan's interbank market overnight rate. It not only quantifies the classic liquidity effect, but also uncovers a liquidity distribution effect on both sides of the market, and shows that their magnitude is a decreasing and convex function of the level of excess reserves. It finds that... READ MORE...

Publication date: October 2009
ISBN 9781451873757
$18.00

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