English, Article, Journal or magazine article edition: The role of banks in monetary policy transmission: Empirical evidence from Russia Juurikkala, Tuuli; Solanko, Laura; Karas, Alexei

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Bookmark: http://trove.nla.gov.au/version/66234
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The role of banks in monetary policy transmission: Empirical evidence from Russia
Author
  • Juurikkala, Tuuli
  • Solanko, Laura
  • Karas, Alexei
Physical Description
  • preprint
Notes
  • 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.
  • monetary policy transmission; bank lending; Russia
  • RePEc:hhs:bofitp:2009_008
Language
  • English
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