| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19004 |
| 来源ID | Working Paper 19004 |
| State-run Banks, Money Growth, and the Real Economy | |
| Randall Morck; M. Deniz Yavuz; Bernard Yeung | |
| 发表日期 | 2013-04-25 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Within countries, state-run banks’ lending correlates with prior money growth; otherwise similar private-sector banks’ lending does not. Aggregate credit and investment growth correlate with prior money growth more where banking systems are more state-run. Size and liquidity differences between state-run and private-sector banks do not drive these results; further tests discount broad classes of alternative explanations. Tests exploiting heterogeneity in likely political pressure on state-run banks associated with privatizations and elections suggest a command-and-control pseudo-monetary policy channel: changes in money growth, perhaps reflecting political pressure on the central bank, change banks’ lending constraints; political pressure actually changes state-run banks’ lending. |
| 主题 | Macroeconomics ; Monetary Policy ; Financial Economics ; Financial Markets ; Financial Institutions ; Corporate Finance ; Development and Growth ; Development ; Other ; Economic Systems |
| URL | https://www.nber.org/papers/w19004 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576678 |
| 推荐引用方式 GB/T 7714 | Randall Morck,M. Deniz Yavuz,Bernard Yeung. State-run Banks, Money Growth, and the Real Economy. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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