外国银行在货币政策传导中的作用:来自突尼斯的经验证据

Q3 Economics, Econometrics and Finance

Economic Annals Pub Date : 2021-01-01 DOI:10.2298/EKA2128101G

Mohamed Sadok, K. Ben-Ahmed

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引用次数: 0

摘要

本文采用向量自回归模型和非线性交互模型对突尼斯货币政策冲击对信贷供给的影响进行了实证分析。人们关注的焦点是，在外资银行存在的情况下，这些冲击的规模有多大。利息变量为存款银行集中度指数和货币政策冲击，基于27家全能银行和商业银行1993 - 2016年的月度数据。结果表明，集中度指数对信贷供给具有显著的正向影响。然而，当市场因外资银行进入而集中时，货币政策冲击似乎没有显著影响。本研究的结果还表明，外资银行的进入抵消了货币政策冲击在信贷供应中的传导，这可能被市场纪律所抵消。

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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The role of foreign banks in the transmission of monetary policy: Empirical evidence from Tunisia

This paper presents an empirical analysis of the effect of monetary policy shocks on credit supply in Tunisia, using a vector autoregressive model and a nonlinear interactive model. The focus is on the magnitude of these shocks in the presence of foreign banks. The variables of interest are the concentration index of deposit banks, and monetary policy shocks based on the monthly data of 27 universal and business banks covering the period 1993 to 2016. The results support a positive and significant impact of concentration index on credit supply. However, monetary policy shocks appear to have no significant effect when the market is concentrated with the entry of foreign banks. The findings of this study also reveal that the entry of foreign banks neutralises monetary policy shock transmission in the credit supply, which may be offset by market discipline.

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来源期刊

Economic Annals Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

0.90

自引率

0.00%

发文量

审稿时长

18 weeks

期刊介绍： Economic Annals is an academic journal that has been published on a quarterly basis since 1955, initially under its Serbian name of Ekonomski anali (EconLit). Since 2006 it has been published exclusively in English. It is published by the Faculty of Economics, University of Belgrade, Serbia. The journal publishes research in all areas of economics. The Editorial Board welcomes contributions that explore economic issues in a comparative perspective with a focus on transition and emerging economies in Europe and around the world. The journal encourages the submission of original unpublished works, not under consideration by other journals or publications. All submitted papers undergo a double blind refereeing process. Authors are expected to follow standard publication procedures [Instructions to Authors], to recognise the values of the international academic community and to respect the journal’s Policy.