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Abstract: This article analyses how financial development affects the bank lending channel in developing countries. Our analysis is carried out on a sample of 693 commercial banks from 31 developing countries between 2000 and 2012. We find that the loan supply of banks that operate in countries with less developed financial systems is not affected by monetary policy changes. In countries with more developed financial systems, the bank lending channel is effective, but only after the financial crisis. Moreover, in these countries, the negative effect of monetary policy contractions on bank lending is greater when financial development rises.
Fuente: Journal of macroeconomics, Volume 55, March 2018, Pages 215-234
Editorial: Elsevier BV
Fecha de publicación: 01/03/2018
Nº de páginas: 20
Tipo de publicación: Artículo de Revista
DOI: 10.1016/j.jmacro.2017.10.009
ISSN: 0164-0704,1873-152X
Url de la publicación: http://dx.doi.org/10.1016/j.jmacro.2017.10.009
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