Monetary stimulus and bank liquidity hoarding in an emerging market

IF 0.7 Q4 BUSINESS, FINANCE

Asian Academy of Management Journal of Accounting and Finance Pub Date : 2022-07-29 DOI:10.21315/aamjaf2022.18.1.6

V. Dang, H. Nguyen

引用次数: 0

Abstract

The paper examines the impact of monetary policy on bank liquidity hoarding. Using novel measures to capture bank liquidity hoarding in Vietnam during 2007–2019, we find that banks decrease total liquidity hoarding and all three liquidity hoarding components (asset-, liability-, and off-balance sheet items) when the central bank injects more money into the economy. An interesting result appears when we document that banks hoard more liquidity in the event of lowered interest rates. Our additional analysis indicates that the extent to which bank liquidity hoarding responds to monetary policy changes is clearer in lower-risk banks.

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新兴市场的货币刺激和银行流动性囤积

本文考察了货币政策对银行流动性囤积的影响。利用新措施捕捉2007-2019年越南的银行流动性囤积，我们发现，当央行向经济注入更多资金时，银行减少了流动性囤积总量和所有三个流动性囤积组成部分(资产、负债和表外项目)。当我们记录银行在利率降低的情况下囤积更多流动性时，一个有趣的结果出现了。我们的进一步分析表明，在低风险银行中，银行流动性囤积对货币政策变化的反应程度更为明显。

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

Asian Academy of Management Journal of Accounting and Finance BUSINESS, FINANCE-

CiteScore

1.50

自引率

0.00%

发文量

审稿时长

20 weeks

期刊介绍： To provide a forum for the exchange of ideas and dissemination of empirical findings and analytical research in the specialized areas of accounting and finance with special emphasis on scholarly works with policy implications for countries in the Asia Pacific. The following are some of the topical subject areas relevant to the journal (but are not limited to): Accounting • Financial reporting and accounting standards • Auditing issues • Value based accounting and its relevance • Theory of accounting firm • Environmental auditing • Corporate governance issues • Public sector accounting Finance • Valuation of financial assets • International capital flows • Ownership and agency theory • Stock market behavior • Investment and portfolio management • Islamic banking and finance • Microstructures of financial markets