UID:
edocfu_9958112102102883
Format:
1 online resource (30 p.)
ISBN:
1-4623-8004-2
,
1-4527-6020-9
,
1-283-51862-7
,
1-4519-1151-3
,
9786613831071
Series Statement:
IMF working paper ; WP/07/134
Content:
Despite far-reaching banking sector reforms and a prolonged period of macroeconomic stability and strong economic growth, financial intermediation in Armenia has lagged behind other transition countries, and interest rate spreads have remained higher than in most Central and Eastern European transition countries. This paper examines the determinants of interest rate spreads and margins in Armenia using a bank-level panel dataset for the period 2002 to 2006. We find that bank-specific factors, such as bank size, liquidity, and market power, as well as the market structure within which banks operate, explain a large proportion of crossbank, cross-time variation in spreads and margins. The results suggest that there is a large potential to increase cost efficiency and competition in the banking system.
Note:
"June 2007".
,
Contents; I. Introduction; Figures; 1. Regional Comparison of Financial Sector Development, 2005; 2. Regional Comparison of Interest Rate Spreads, 2005; II. Determinants of Interest Spreads: Related Literature; III. The Armenian Banking System; 3. Regional Comparison of Bank Productivity, 2005; 4. Banking Sector Concentration, 2002-06; 5. Bank Specialization in Loan Markets and Net Interest Margin, 2002-06; 6. Regional Comparison of Determinants of Interest Rate Spreads, 2005; 7. Performance and Structure of the Armenian Banking Sector, 2006; IV. Methodology and Data; V. Empirical Results
,
A. Basic ResultsB. Market Structure and Macroeconomic Characteristics; C. Robustness; VI. Conclusions; References; Tables; 1. Summary Statistics; 2. Correlation Matrix; 3. Determinants of Interest Rate Spreads and Margins: Bank Characteristics; 4. Interest Rate Spread: Banking Structure and Macroeconomic Variables; 5. Net Interest Margin: Banking Structure and Macroeconomic Variables; 6. Robustness Tests; Appendix; Variable Definitions
,
English
Additional Edition:
ISBN 1-4518-6698-4
Language:
English
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