دورية أكاديمية
Asymmetries in responses of commercial banks in a transitional economy to countercyclical monetary policy: The case of Romania
| العنوان: | Asymmetries in responses of commercial banks in a transitional economy to countercyclical monetary policy: The case of Romania |
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| المؤلفون: | Chu V. Nguyen, Phan D. Khoi, Huynh V. Khai |
| المصدر: | Journal of Eastern European and Central Asian Research, Vol 5, Iss 1 (2018) |
| بيانات النشر: | IEECA, 2018. |
| سنة النشر: | 2018 |
| المجموعة: | LCC:Business |
| مصطلحات موضوعية: | Asymmetry, countercyclical monetary policy, commercial banks’ lending rate, Central Bank’s discount rate, commercial banks’ lending-Central Bank’s discount rate spread, time lag, Business, HF5001-6182 |
| الوصف: | The empirical results of this study reveal the following interesting characteristics of the Romanian banking sector over the December 1993 through August 2017 period. First, the spread between the lending-Central Bank’s discount rates was stable and adjusted to its long-run threshold asymmetrically. Second, lending institutions respond faster to contractionary than expansionary countercyclical monetary policy actions. This empirical finding suggests that Romanian commercial banks exhibit predatory rate setting behavior, which is consistent with those of their counterparts in advanced and emerging economies. Third, lending institutions respond to countercyclical monetary policy and the Romanian Central Bank authority effectively utilizes monetary policy to manage the economy as evidenced by the short-run dynamic and long-run Granger-causality from the discount rate to the banks’ lending rate. With respect to the time lags of the Romanian monetary policy found within the banking sector, the empirical results suggest that it takes almost two years for the lending rate to adjust to a monetary policy action completely. |
| نوع الوثيقة: | article |
| وصف الملف: | electronic resource |
| اللغة: | English |
| تدمد: | 2328-8272 2328-8280 |
| العلاقة: | https://ieeca.org/journal/index.php/JEECAR/article/view/192Test; https://doaj.org/toc/2328-8272Test; https://doaj.org/toc/2328-8280Test |
| DOI: | 10.15549/jeecar.v5i1.192 |
| الوصول الحر: | https://doaj.org/article/f88448970aa4410ea0dc8da9088f5bc7Test |
| رقم الانضمام: | edsdoj.f88448970aa4410ea0dc8da9088f5bc7 |
| قاعدة البيانات: | Directory of Open Access Journals |
Full Text Finder | تدمد: | 23288272 23288280 |
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| DOI: | 10.15549/jeecar.v5i1.192 |