全球智库信息集成服务系统(G2TT): DP12171 Financial Development and Monetary Policy: Loan Applications, Rates, and Real Effects

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP12171
	DP12171 Financial Development and Monetary Policy: Loan Applications, Rates, and Real Effects
	José-Luis Peydró; Charles Abuka; Ronnie Alinda; Camelia Minoiu
发表日期	2017-07-21
出版年	2017
语种	英语
摘要	The finance-growth literature argues that institutional constraints in developing countries impede financial intermediation and monetary policy transmission. Recent studies using aggregate data document a weak bank lending channel. For identification, we instead exploit Uganda’s super- visory credit register, with loan applications and rates, and unanticipated variation in monetary policy. A monetary tightening strongly reduces credit supply—increasing loan application rejections and tightening volume and rates—especially for banks with more leverage and sovereign debt exposure (even within the same borrower-period). There are spillovers on inflation and eco- nomic activity, especially in more financially-developed areas, including on commercial building, trade, and social unrest.
主题	Development Economics ; Financial Economics ; Monetary Economics and Fluctuations
关键词	Financial development Bank credit Bank lending channel monetary policy Real effects Developing countries
URL	https://cepr.org/publications/dp12171-0
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/540983
推荐引用方式 GB/T 7714	José-Luis Peydró,Charles Abuka,Ronnie Alinda,et al. DP12171 Financial Development and Monetary Policy: Loan Applications, Rates, and Real Effects. 2017.