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Determinants of the Physical Demand for Gold : Evidence from Panel Data

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dc.contributor.authorStarr, Martha
dc.contributor.authorTran, Ky
dc.date.accessioned2012-03-30T07:30:35Z
dc.date.available2012-03-30T07:30:35Z
dc.date.issued2008
dc.description.abstractAlthough the role of gold in the world economy has declined since the gold standard was abandoned, it remains important as a central bank reserve, a hedge against risks, a barometer of geopolitical uncertainty, and an input for jewellery. While portfolio demand for gold has been well studied, determinants of physical demand are less understood. Certain emerging-market countries such as China and India import substantial amounts of gold, with several factors that may contribute: low financial development, need for precautionary savings and/or strong cultural valuation of gold itself. This article uses panel data on gold imports of 21 countries to examine determinants of physical demand. We find that determinants of physical demand differ from those of portfolio demand, and that they differ between the developed and developing worlds.en
dc.identifier.citationWorld Economy
dc.identifier.issn03785920
dc.identifier.urihttps://hdl.handle.net/10986/4960
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectMacroeconomics: Consumption
dc.subjectSaving
dc.subjectWealth E210
dc.subjectPortfolio Choice
dc.subjectInvestment Decisions G110
dc.subjectMetals and Metal Products
dc.subjectCement
dc.subjectGlass
dc.subjectCeramics L610
dc.titleDeterminants of the Physical Demand for Gold : Evidence from Panel Dataen
dc.title.alternativeWorld Economyen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum1607
okr.journal.nbpages416-436
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=0965211&site=ehost-live
okr.relation.associatedurlhttp://www.blackwellpublishing.com/journal.asp?ref=0378-5920
okr.volume31
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