- Author
- Wróbel Ewa (Narodowy Bank Polski)
- Title
- What is the Impact of Central Bank on Banks' Lending Policy with Respect to the Corporate Sector? : Evidence from SLOOS for Poland
- Source
- Bank i Kredyt, 2018, nr 6, s. 595-638, aneks, bibliogr. 18 poz.
Bank & Credit - Keyword
- Polityka kredytowa banków, Sektor bankowy, Banki centralne, Stopa procentowa, Kredytowanie działalności przedsiębiorstwa, Wyniki badań
Credit policy of banks, Banking sector, Central banks, Interest rate, Business activity lending, Research results - Note
- JEL Classification: E5, G21
summ. - Abstract
- The paper shows how central bank impacts credit policy of the banking sector. Using aggregate data from the "Senior loan officer survey" and SVAR models with non-recursive decomposition, it analyses effects of short-term interest rate innovations on loan standards, terms and conditions for short- and long-term loans for various types of enterprises. It finds that shocks to the monetary policy are amplified by the operation of the lending channel and that the reactions of standards on long-term loans for small and medium sized enterprises are somewhat more pronounced than those on loans for large entities. Loans for investment are affected by credit standards to a certain degree, other types of loans, such as loans on current account and loans for financing working capital as well as for real property acquisition tend to respond to the interest rate. Recursive factorizations may over-estimate the role of the credit channel. (original abstract)
- Accessibility
- The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business - Full text
- Show
- Bibliography
-
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- Cited by
- ISSN
- 0137-5520
- Language
- eng
