Monetary Transmission in Brazil: Has the Credit Channel Changed?

December 17, 2013

Preview Citation

Format: Chicago

Mercedes Garcia-Escribano. Monetary Transmission in Brazil: Has the Credit Channel Changed?, (USA: International Monetary Fund, 2013) accessed September 20, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper investigates the transmission of monetary policy by private banks in Brazil during the recent easing cycle. The analysis presented uses a panel dataset with information on lending by private banks in Brazil and concludes that monetary transmission through lending volumes was not impaired. Instead, the observed diminished lending appears to be related to supply and demand factors, as well as to the rapid expansion of public banks’ lending.

Subject: Bank credit, Banking, Credit, Financial institutions, Loans, Money, Nonperforming loans, State-owned banks

Keywords: Balance sheet variable, Bank, Bank capitalization, Bank credit, Credit, Credit channel, Credit growth, Global, Lending, Lending channel, Lending growth, Lending product, Lending to corporate, Loans, Monetary policy, Monetary transmission, Nonperforming loans, Private bank, State-owned banks, WP

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2013/251
Stock No:

WPIEA2013251
ISBN:

9781484312001
ISSN:

1018-5941

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