Monetary policy and bank lending in developing countries: loan applications, rates, and real effects
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- dc.contributor.author Abuka, Charles
- dc.contributor.author Alinda, Ronnie K.
- dc.contributor.author Minoiu, Camelia
- dc.contributor.author Peydró, José-Luis
- dc.contributor.author Presbitero, Andrea F.
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2020-05-25T09:26:58Z
- dc.date.available 2020-05-25T09:26:58Z
- dc.date.issued 2018-11-01
- dc.date.modified 2020-05-25T09:26:23Z
- dc.description.abstract Recent studies of monetary policy in developing countries document a weak bank lending channel based on aggregate data. In this paper, we bring new evidence using Ugandaâ s supervisory credit register, with microdata on loan applications, volumes and rates, coupled with unanticipated variation in monetary policy. We show that a monetary contraction reduces bank credit supplyâ increasing loan application rejections and tightening loan volume and ratesâ especially for banks with more leverage and sovereign debt exposure. There are associated spillovers on inflation and economic activityâ including construction permits and tradeâ and even social unrest.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1703
- dc.identifier.citation Journal of Development Economics, 139, 185-202, june 2019
- dc.identifier.uri http://hdl.handle.net/10230/44735
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1703
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword bank lending channel of monetary policy; bank credit; real effects; credit register; developing countries
- dc.subject.keyword Finance and Accounting
- dc.title Monetary policy and bank lending in developing countries: loan applications, rates, and real effects
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper