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150128 ||| eng |
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|a 9781451845433
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|a Rother, Philipp
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|a Explaining the Behavior of Financial Intermediation
|b Evidence from Transition Economies
|c Philipp Rother
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1999
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300 |
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|a 32 pages
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651 |
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4 |
|a Estonia, Republic of
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653 |
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|a Depository Institutions
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653 |
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|a Inflation
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653 |
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|a Credit
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653 |
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|a Banks
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653 |
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|a Finance
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653 |
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|a Industries: Financial Services
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653 |
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|a Banks and banking
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653 |
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|a Monetary economics
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653 |
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|a Financial institutions
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653 |
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|a Deflation
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Micro Finance Institutions
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653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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653 |
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|a Mortgages
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653 |
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|a Nonperforming loans
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|a Money
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|a Money supply
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|a Price Level
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|a Monetary base
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|a Loans
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|a Financial markets
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|a Banks and Banking
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653 |
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|a Financial Markets and the Macroeconomy
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Financial services industry
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653 |
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|a Banking
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653 |
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|a Financial sector development
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653 |
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|a Money and Monetary Policy
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653 |
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|a Finance: General
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|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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|a 10.5089/9781451845433.001
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|u https://elibrary.imf.org/view/journals/001/1999/036/001.1999.issue-036-en.xml?cid=2909-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper investigates the effects of macroeconomic and structural variables on financial intermediation. To this end, it presents a theoretical foundation for two new measures of intermediation, the money multiplier and the ratio of private sector credit to monetary base. Results from panel estimations covering 19 transition economies indicate that policy makers need to address in particular the problems of bad loans on bank balance sheets and high market concentration while maintaining a stable macroeconomic environment. Further variables, such as minimum reserve requirements and the capital adequacy ratio, are found to possess less explanatory power
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