The role of banks in monetary policy transmission: empirical evidence from Russia

Arbeitspapier

This paper focuses on the role of the banking sector in monetary policy transmission in an emerging economy with a rapidly developing financial system. Specifically, we exam whether the central bank's monetary policy stance affects banks' lending behaviour. Based on a comprehensive quarterly dataset on all Russian banks from 1Q1999 to 1Q2007, we find evidence for the existence of a bank lending channel in Russia. Contrary to several studies on developed economies, the level of a bank's capitalization matters for the transmission process. Better capitalized banks are less likely to adjust their lending practices following a change in the monetary policy stance.

Angaben zum Objekt

• ISBN: 978-952-462-971-3
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: BOFIT Discussion Papers ; No. 8/2009

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Agriculture: Other ; Renewable Resources and Conservation: General

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Juurikkala, Tuuli ; Karas, Alexei ; Solanko, Laura
• Ereignis: Veröffentlichung
• (wer): Bank of Finland, Institute for Economies in Transition (BOFIT)
• (wo): Helsinki
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/212652
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ