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161223 ||| eng |
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|a 9781513516233
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|a Ananchotikul, Nasha
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|a Monetary Policy Transmission in Emerging Asia
|b The Role of Banks and the Effects of Financial Globalization
|c Nasha Ananchotikul, Dulani Seneviratne
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2015
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Money
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| 653 |
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|a Financial institutions
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| 653 |
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|a Banks
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Bank credit
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| 653 |
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|a Foreign banks
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| 653 |
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|a Commercial banks
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| 653 |
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|a Banking
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| 653 |
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|a Mortgages
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Banks and banking
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Loans
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| 653 |
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|a Banks and banking, Foreign
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: Other
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| 653 |
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|a Finance
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| 653 |
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|a Monetary economics
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| 653 |
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|a Credit
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| 653 |
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|a Depository Institutions
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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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|a Seneviratne, Dulani
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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 10.5089/9781513516233.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2015/207/001.2015.issue-207-en.xml?cid=43313-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a Given the heavy reliance on bank lending as the main source of financing in most Asian economies, banks could potentially play a pivotal role in monetary policy transmission. However, we find that Asia’s bank lending channel or, more broadly, credit channel of domestic monetary policy is not very strong at the aggregate level. Using bank-level data for nine Asian economies during 2000–2013, we show that heterogeneity of bank characteristics (e.g., ownership type, financial position), degree of foreign bank penetration of the domestic banking sector, and global financial conditions all have a bearing on the response of domestic credit to changes in domestic monetary policy, and may account for the apparently weak credit channel at aggregate level
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