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Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America
International Monetary Fund (IMF); International … - 2012
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10010878415
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Republic of Armenia; Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criterion: Staff Report; a...
International Monetary Fund (IMF); International … - 2006
The staff report for the Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility focuses on the Republic of Armenia’s economic environment and policy discussion. Financial sector reforms will focus on improving corporate governance, strengthening...
Persistent link: https://www.econbiz.de/10011244639
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Macroeconomic Implications of Financial Dollarization; The Case of Uruguay
Gelos, Gaston; Mejía, Alejandro López; Piñón-Farah, … - International Monetary Fund (IMF) - 2008
Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adoped a monetary regime initially based on money targets,...
Persistent link: https://www.econbiz.de/10011245904
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The Bank Lending Channel of Monetary Transmission; Does it Work in Turkey?
Brooks, Petya Koeva - International Monetary Fund (IMF) - 2007
Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as … response of Turkey's banks, depending on their balance sheet characteristics. The empirical results indicate that banks can … play a role in Turkey's monetary transmission mechanism. Specifically, bank liquidity is found to have a significant effect …
Persistent link: https://www.econbiz.de/10005248226
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Monetary Policy with a touch of Basel
Chami, Ralph; Cosimano, Thomas F. - International Monetary Fund (IMF) - 2001
The typical portrait of monetary policy has the banks and the money supply being manipulated through changes in bank reserves. However, with only a small portion of bank deposits now subject to reserve requirements, an alternative explanation of how monetary policy influences banks is needed....
Persistent link: https://www.econbiz.de/10005263662
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Monetary Policy and Corporate Behaviour in India
International Monetary Fund (IMF); International … - 2005
The paper examines the association and corporate behavior for a sample of manufacturing firms in India for the post-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt, although the lagged response is positive, and listed...
Persistent link: https://www.econbiz.de/10005263785
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Excess Liquidity and the Effectiveness of Monetary Policy; Evidence From Sub-Saharan Africa
Saxegaard, Magnus - International Monetary Fund (IMF) - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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Bank Losses, Monetary Policy and Financial Stability-Evidenceon the Interplay From Panel Data
Zicchino, Lea; Nier, Erlend - International Monetary Fund (IMF) - 2008
We assess the extent to which loan losses affect banks’ provision of credit to companies and households and examine how feedback from losses to a reduction in credit is affected by the monetary policy stance. Using a unique cross-country dataset of more than 600 banks from 32 countries, we...
Persistent link: https://www.econbiz.de/10005826440
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Monetary Transmission in Low Income Countries
Montiel, Peter; Spilimbergo, Antonio; Mishra, Prachi - International Monetary Fund (IMF) - 2010
This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging economies. Given the weak institutional frameworks, reduced role of securities markets, imperfect...
Persistent link: https://www.econbiz.de/10008671304
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Bank Lending in Turkey; Effects of Monetary and Fiscal Policies
Aydin, Burcu; Igan, Deniz - International Monetary Fund (IMF) - 2010
targeting and fiscal discipline in Turkey. This paper studies the impact of monetary and fiscal policies on credit growth during … channel is not strong in Turkey and government finances has limited direct impact on credit. …
Persistent link: https://www.econbiz.de/10008680275