Impact of off-balance sheet banking on the bank lending channel of monetary transmission: Evidence from South Asia

被引：20
作者：
Perera, Anil [1 ,3 ]
Ralston, Deborah [1 ,2 ]
Wickramanayake, J. [1 ]
机构：
[1] Monash Univ, Fac Business & Econ, Caulfield, Vic 3145, Australia
[2] Australian Ctr Financial Studies, Melbourne, Vic 3000, Australia
[3] Cent Bank Sri Lanka, Colombo 01, Sri Lanka
来源：
JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY | 2014年 / 29卷
关键词：
Off-balance sheet banking; Bank lending channel; Panel estimates; South Asia; ADVERSE-SELECTION; LOAN COMMITMENTS; POLICY; CREDIT; SECURITIZATION; ASSET; RISK;
D O I：
10.1016/j.intfin.2013.12.008
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Based on a panel data set for 114 South Asian commercial banks, we find that off-balance sheet banking reduces the effectiveness of the bank lending channel of monetary transmission. That is, banks with high exposure to off-balance sheet activities are able to insulate their loan supply against a monetary policy shock thus creating a buffering effect on monetary transmission. We also suggest that these effects are substantial for small, highly-liquid and well-capitalised banks. The buffering effect of off-balance sheet banking on monetary transmission raises important policy issues, particularly with regard to the effectiveness of monetary policy and the definitions of monetary aggregates. (C) 2013 Elsevier B. V. All rights reserved.
引用
收藏
页码：195 / 216
页数：22
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