Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/216781 
Erscheinungsjahr: 
2019
Quellenangabe: 
[Journal:] Journal of Development Economics [ISSN:] 0304-3878 [Volume:] 139 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2019 [Pages:] 185-202
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
Recent studies of monetary policy in developing countries document a weak bank lending channel based on aggregate data. In this paper, we bring new evidence using Uganda's supervisory credit register, with microdata on loan applications, volumes and rates, coupled with unanticipated variation in monetary policy. We show that a monetary contraction reduces bank credit supply—increasing loan application rejections and tightening loan volume and rates—especially for banks with more leverage and sovereign debt exposure. There are associated spillovers on inflation and economic activity—including construction permits and trade—and even social unrest.
Schlagwörter: 
Bank lending channel of monetary policy
bank credit
real effects
credit register
Developing countries
JEL: 
E42
E44
E52
E58
G21
G28
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Dokumentart: 
Article
Dokumentversion: 
Published Version
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