Bank Lending and Monetary Transmission: Does Politics Matter?

被引：3

作者：

Ghosh, Saibal ^{[1
]}

机构：

[1] Qatar Cent Bank, POB 1234, Doha, Qatar

来源：

JOURNAL OF QUANTITATIVE ECONOMICS | 2020年 / 18卷 / 02期

关键词：

Interest rate subvention; Bank lending; Monetary policy; India; G21; G28; GOVERNMENT-OWNED BANKS; BUDGET CYCLES; POLICY; PERFORMANCE; OWNERSHIP; CONNECTIONS; DIFFERENCE; ELECTIONS; INFERENCE; ACCESS;

D O I：

10.1007/s40953-019-00190-y

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Combining bank-level data with information on interest rate subvention, the paper documents an expansion in agricultural lending and a reduction in interest costs even under tight monetary policy, in the presence of political intervention. The magnitude of the impact is asymmetric across periods of monetary expansion and contraction. The analysis highlights the importance of the government in the functioning of the credit market and uncovers a political channel of monetary transmission.

引用

页码：359 / 381

页数：23

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