Have the Commercial Banks Become Safer than the State? About a Paradox of the Moldovan Economy

Publishing date: Tuesday, 11 October 2011
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Views: 4521

Economic Commentary, no. 118

Starting from the second half of 2010, we can notice a unique phenomenon for the Moldovan economy (and not only): the bank deposits interest rates are lower than those on T-bills. This contradicts both the basic economic intuition and evidence suggesting that the state benefit of the luxury of being the safest borrower, allowing it to borrow resources at lowest prices. What are the causes and risks of this paradoxical situation?

Full version available only in Romanian.

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