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In most economies the banking sector plays the major role in the financial system. Therefore, it is of great importance to analyse and understand the mechanism of transmission of monetary policy and its impact on the banking sector. One of the possible repercussions of changing the level of official interest rates is the ability to influence the size of bank lending, by means of the bank lending channel. The key aspect our research is a thorough understanding of the functioning of the bank lending channel, with the main goal of this study being an examination of the efficiency of monetary policy transmission through the bank lending channel depending on the size of banks in the sector. This paper examines the abovementioned relation using annual data from 1995-2015 by 1709 commercial and cooperative banks from 27 EU countries and analyzing them in various econometric models. The results indicate that there is a positive impact of a bank's size on loan growth (defined as the bank size increases, the impact of changes in interest rates in the bank's lending policy is getting smaller), however, interaction between the variables of size and the interest rate, was proved to be insignificant (in the group of all analysed banks, as well as in commercial and cooperative banks separately). (original abstract)
Twórcy
autor
- University of Warsaw, Poland
autor
- University of Warsaw, Poland
autor
- University of Warsaw, Poland
Bibliografia
- Ananchotikul, N., Seneviratne, D. (2015). Monetary Policy Transmission in Emerging Asia: The Role of Banks and the Effects of Financial Globalization. IMF Working Paper, WP/15/207.
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- De Haan, L. (2001). The Credit Channel in the Netherlands: Evidence from Bank Balance Sheets. European Central Bank Working Paper Series no 98/ December 2001.
- De Santis, R.A., Surico P. (2013).Bank Lending and Monetary Transmission in the Euro Area. European Central Bank Working Paper Series no 1568 / July 2013.
- Havrylchyk, O., Jurzyk, E. (2005). Does the Bank Lending Channel Work in a Transition Economy? A Case of Poland. European University Viadrina, http://www.ceistorvergata.it/conferenze&convegni/ banking&finance/XII_^conference/9DICEMBRE/HavrylchykJurzyk.pdf.
- Kashyap, A.K., Stein, J.C. (1995). The Impact of Monetary Policy on Bank Balance Sheets. Carnegie-Rochester Conference Series on Public Policy, 42,151-95.
- Matousek, R., Sarantis, N. (2009). The Bank Lending Channel and Monetary Transmission in Central and Eastern European countries. Journal of Comparative Economics, 2009, vol. 37, issue 2, 321-334.
- Meral, G. (2015). The Effect of Bank Size and Bank Capital on the Bank Lending Channel for Turkish Banks.American Scientific Research Journal for Engineering, Technology, and Sciences (ASRJETS) (2015) Volume 12, No. 1, 1-28.
Typ dokumentu
Bibliografia
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