Evidence on the bank-lending channel in Ukraine

Golodniuk, Inna

doi:10.1016/j.ribaf.2005.09.007

Cited by 27 publications

(21 citation statements)

References 19 publications

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“…He also confirmed the importance of liquidity and capital in the response of loans to monetary policy shocks. Golodniuk (2006) used panel data and the GMM model and found that the higher the capitalization, the less responsive a bank is to monetary pol icy shocks. Jimborean (2009) used the GMM model and disaggregated data in Central and Eastern Europe countries, over the period from 1998 to 2006.…”

Section: Evidence Of the Bank Lending Channel: Bank-level Studymentioning

confidence: 99%

The Bank Lending Channel of Monetary Policy? The Panel Evidence from Egypt

Shokr

Karim

Jusoh

et al. 2014

GADJAH MADA INT. J. BUS.

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This paper examines the relevance of the bank lending channel of monetary policy in Egypt using bank-level data. Previous empirical studies in Egypt that used macro-level data have not supported the relevance of the bank lending channel. However, using a sample of 32 commercial banks for the period from 1998 until 2011 and a dynamic panel GMM technique, the empirical findings revealed the relevance of the bank lending channel of monetary policy in Egypt. Moreover, there is a heterogeneity effect of monetary policy on bank loans according to bank size, in which the small banks are more affected during a monetary contraction than larger banks. This finding signals that the monetary authorities in Egypt should take cognizance of the stability of interest rates in order to stabilize the bank loan supply.Abstrak: Makalah ini membahas relevansi bank penyalur pinjaman kebijakan moneter/bank sentral di Mesir dengan menggunakan data bank bertingkat. Beberapa studi empiris sebelumnya yang menggunakan data tingkat makro belum mendukung relevansi penyaluran pinjaman bank. Namun, dengan menggunakan sampel dari 32 bank umum dari periode 1998 hingga 2011 dan dengan memakai teknik panel GMM dinamis, kami menemukan bukti empiris yang menunjukkan adanya relevansi saluran peminjaman bank kebijakan moneter di Mesir. Selain itu, ada efek heterogenitas kebijakan moneter pinjaman bank sesuai dengan ukuran bank, di mana pada umumnya bank yang kecil lebih terpengaruh selama kontraksi moneter dibandingkan dengan bank yang lebih besar. Temuan ini menunjukan bahwa pihak otoritas moneter di Mesir harus bertanggung jawab atas kestabilan suku bunga agar terjaga kestabilan pasokan pinjaman bank.

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Section: Evidence Of the Bank Lending Channel: Bank-level Studymentioning

confidence: 99%

The Bank Lending Channel of Monetary Policy? The Panel Evidence from Egypt

Shokr

Karim

Jusoh

et al. 2014

GADJAH MADA INT. J. BUS.

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“…Golodniuk (2006) argues that, in Ukraine, the level of bank capitalization is the best measure of its balance sheet strength. We consider Bank Size as an indicator of the bank's capacity to mobilize financial resources.…”

Section: Different Indicators Of Bank Strength Allow Us To Single Outmentioning

confidence: 99%

Why Do Firms Switch Their Main Bank?: Theory and Evidence from Ukraine

Stephan

Tsapin²,

Talavera

2009

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. We examine why firms change their main bank and how this affects loans, interest payments and firm performance after switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and riskier companies are more likely to switch their main bank. Importantly, main bank power, measured by equity holdings, appears to be one of the main drivers of firm switching behavior. Furthermore, we find that firms have lower performance after changing their main bank as they have to contend with higher interest payments. Terms of use: Documents in

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“…Therefore, businesses and consumers, who depend on bank lending, can increase (decrease) their purchases of durable goods and capital for investment. Hence, expansions (contractions) in bank reserves affect output positively (negatively) (Golodniuk, 2006).…”

Section: The Bank Lending Channelmentioning

confidence: 99%

“…Most studies on the euro area economies provide empirical support to the presence of the channel, while the empirical analysis for the US case provides mixed results (Ehrmann et al, 2003;Gambacorta, 2005). In addition, the majority of studies show that small banks do not exhibit more sensitivity to monetary policy shocks than large banks (Peek & Rosengren, 1995;Gambacorta, 2005;Golodniuk, 2006). The empirical implementation should cope with an important problem.…”

Section: The Bank Lending Channelmentioning

confidence: 99%

Credit Frictions and the Bank Lending Channel: Evidence from a Group of European Banks

Apergis¹,

Alevizopoulou²

2013

JFE

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Abstract:Monetary policy decisions are transmitted into the economy through many channels, one of which is the bank lending channel. It is based on the central bank's actions that affect loan supply and real spending. This paper examines, spanning the period 1999-2010, whether for the case of European banks the operation of the bank lending channel can be modeled in a manner that better conforms to current institutional realities, such as credit frictions. The recent literature on monetary policy takes into account credit frictions and investigates monetary implications. We use interest rate spreads, that is, the difference between the interest rate available to savers and borrowers, as an indicator of the disruptions in the financial situation and incorporate them into the model for the estimation of the bank lending channel across eurozone countries. The results indicate that these credit frictions have an impact on the lending growth process. JEL Classifications: E51, C33

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Evidence on the bank-lending channel in Ukraine

Cited by 27 publications

References 19 publications

The Bank Lending Channel of Monetary Policy? The Panel Evidence from Egypt

The Bank Lending Channel of Monetary Policy? The Panel Evidence from Egypt

Why Do Firms Switch Their Main Bank?: Theory and Evidence from Ukraine

Credit Frictions and the Bank Lending Channel: Evidence from a Group of European Banks

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