UID:
edoccha_9958123903102883
Format:
1 online resource (54 p.)
ISBN:
1-4623-3061-4
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1-282-55796-3
,
9786613822239
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1-4519-1065-7
Series Statement:
IMF working paper ; WP/07/48
Content:
This paper exploits a panel dataset comprising 1,565 banks in 20 emerging countries during 1989- 2001 and compares the response of the volume of loans and the rates on loans and deposits to various measures of monetary conditions across domestic and foreign banks. It also looks for systematic differences in the behavior of domestic and foreign banks during periods of financial distress and tranquil times. Using differences in bank ownership as a proxy for financial constraints, the paper finds weak evidence that foreign banks have a lower sensitivity of credit to monetary conditions relative to their domestic competitors, with the differences driven by banks with lower asset liquidity and/or capitalization. The lending and deposit rates of foreign banks tend to be smoother during periods of financial distress. However, the differences across domestic and foreign banks do not appear to be strong. These results provide weak support to the existence of supply-side effects in credit markets and suggest that foreign bank entry in emerging countries may have contributed somewhat to stability in credit markets.
Note:
Description based upon print version of record.
,
Contents; I. Introduction; II. Related Literature; III. Methodology; A. Expected Results; B. Sources of Bias and Endogeneity Problems; IV. Data; V. Baseline Results; VI. A Closer Look at Loan Growth; VII. Foreign Banks During Crisis Periods; VIII. Concluding Remarks; Figures; 1. Money Market Rates and Reserve Requirements, Asian Countries, 1990-2000; 2. Money Market Rates and Reserve Requirements, Latin America, 1990-2000; 3. Loan Growth of Domestic and Foreign Banks and Financial Crises (Kaminsky-Reinhart)
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4. Loan Growth of Domestic and Foreign Banks and Financial Crises (Caprio-Klingebiel and Frankel-Rose)Tables; 1. Sample Coverage by Regions and Bank Ownership; 2. Balance Sheet Structure by Regions and Quintiles of Bank Size; 3. Summary Statistics by Regions and Bank Ownership; 4. Latin-America, GLS Estimates of Selected Variables on Monetary Conditions; 5. Asia, GLS Estimates of Selected Variables on Monetary Conditions; 6. Latin America, GLS Regressions of Loan Growth on Monetary Conditions (I); 7. Asia, GLS Regressions of Loan Growth on Monetary Conditions (I)
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8. Latin America, GLS Regressions of Loan Growth on Monetary Conditions (II)9. Asia, GLS Regressions of Loan Growth on Monetary Conditions (II); 10. Latin America, Regressions Using a Crises Window; 11. Asia, Regressions Using a Crises Window; 12. Latin America, Regressions Specifying Pre- and Post-Crises Years; 13. Asia, Regressions Specifying Pre- and Post-Crises Years; 14. Latin America, Alternative Crises Definitions; 15. Asia, Alternative Crises Definitions; Appendices; I. Scales for Reserve Requirements by Country; II. Criteria for the Construction of the Reserve Requirements Index
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III. Reserve Requirements IndexIV. Algorithm to Track the Evolution of Bank Ownership; References
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English
Additional Edition:
ISBN 1-4527-7434-X
Additional Edition:
ISBN 1-4518-6612-7
Language:
English
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