Bank-Specific and Macroeconomic Determinants of Bank Liquidity Creation: Evidence from MENA Countries

IF 1.7 Q3 BUSINESS, FINANCE

Journal of Central Banking Theory and Practice Pub Date : 2022-04-30 DOI:10.2478/jcbtp-2022-0013

Anas Alaoui Mdaghri, L. Oubdi

引用次数: 3

Abstract

Abstract This study measures liquidity creation within a sample of 153 banks operating in 12 Middle Eastern and North African (MENA) countries from 2008 to 2017. We found that these banks created a total of $461.32 billion in liquidity in 2017, approximately 1.51 times the total liquidity created in 2008, mainly driven by commercial banks in Gulf Cooperation Council (GCC) countries. We also conducted an econometric analysis to investigate the internal and external factors affecting bank liquidity creation, applying a Fixed Effects model and the new Method of Moments Quantile Regression (MMQR). The results show that, among bank-specific factors, bank liquidity creation in MENA countries is related to capital, size, bank risk, deposits and profitability whilst market concentration does not appear to play a significant role. Regarding macroeconomic factors, inflation, unemployment, savings and monetary policy explain the variations in bank liquidity creation.

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银行流动性创造的银行特定因素和宏观经济因素:来自中东和北非国家的证据

本研究以2008年至2017年在12个中东和北非(MENA)国家运营的153家银行为样本，对流动性创造进行了测量。我们发现，这些银行在2017年共创造了4613.2亿美元的流动性，约为2008年总流动性的1.51倍，主要由海湾合作委员会(GCC)国家的商业银行推动。我们还运用固定效应模型和新的矩分位数回归方法(MMQR)对影响银行流动性创造的内部和外部因素进行了计量分析。结果表明，在银行特定因素中，中东和北非国家的银行流动性创造与资本、规模、银行风险、存款和盈利能力有关，而市场集中度似乎没有发挥重要作用。关于宏观经济因素，通货膨胀、失业、储蓄和货币政策解释了银行流动性创造的变化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Central Banking Theory and Practice BUSINESS, FINANCE-

CiteScore

2.80

自引率

57.10%

发文量

审稿时长

7 weeks

期刊介绍： Journal of Central Banking Theory and Practice is a scientific journal dedicated to publishing quality papers and disseminating original, relevant and applicable economic research. Scientific and professional papers that are published in the Journal of Central Banking Theory and Practice cover theoretical and practical aspects of central banking, monetary policy, including the supervision issues, as well as banking and management in central banks. The purpose of the journal is to educate the general public about the key issues that the central bankers globally face, as well as about contemporary research and achievements in the field of central banking theory and practice.