UID:
edoccha_9959310760502883
Umfang:
1 online resource (35 pages)
ISBN:
1-4843-7883-0
,
1-4843-7887-3
Serie:
IMF Working Papers
Inhalt:
This paper offers novel evidence on the impact of raising bank capital requirements in the context of an emerging market: Peru. Using quarterly bank-level data and exploiting the adoption of bank-specific capital buffers, we find that higher capital requirements have a short-lived, negative impact on bank credit in Peru, although this effect becomes statistically insignificant in about half a year. This finding is robust to estimating different specifications to address concerns about the exogeneity of capital requirements. The fact that the reform was gradual and pre-announced and that banks were highly profitable at the time could explain the short-lived effects on credit.
Anmerkung:
Cover -- Contents -- Abstract -- Glossary -- I. Introduction -- II. Literature Review -- III. Peruvian Capital Reforms -- IV. Conceptual Framework -- V. Data and Empirical Methodology -- VI. Results -- A. Baseline Results -- B. Bank Heterogeneity -- C. Robustness -- D. Addressing Endogeneity -- VII. Conclusions -- References -- Tables -- 1. OLS Estimates for Specification (1) -- 2. Heterogeneous Impact of Capital Requirements -- 3. Robustness Estimations -- 4. OLS Estimates for Specification (2) -- 5. OLS Estimates for Specification (3) -- Figures -- 1. Timeline of Peruvian Capital Reforms -- 2. Two Reform Phases -- 3. Components of Total Capital Requirements -- 4. Actual Versus Required Capital -- 5. Peru: Capital Requirements Versus Capital Held -- 6. Conceptual Framework to Analyze an Increase in Capital Requirements -- 7. Capital Requirements over Time -- 8. Impulse Response Function -- 9. Capital Buffers-Virtual and Actual -- Appendix -- I. Data Description, and Additional Tables and Figures.
Weitere Ausg.:
ISBN 1-4843-7836-9
Sprache:
Englisch
