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Modelling bank loans to non-financial corporations

In: CNB Financial Stability Report 2012/2013

Author

Listed:
  • Miroslav Plasil
  • Stepan Radkovsky
  • Pavel Rezabek

Abstract

This article aims to characterise the effect of demand and supply factors on bank loans to non-financial corporations and to obtain a forecasting model for the main variables linked with corporate loans. Our estimate of credit supply conditions in the Czech Republic echoes the results of the euro area bank lending survey. The results show that Czech banks significantly restricted credit when the financial crisis erupted, and this was partly reflected in the subsequent economic contraction. The article enhances our picture of the credit market, which, owing to the only recent launch of a bank lending survey in the Czech Republic, had not previously been mapped properly.

Suggested Citation

  • Miroslav Plasil & Stepan Radkovsky & Pavel Rezabek, 2013. "Modelling bank loans to non-financial corporations," Occasional Publications - Chapters in Edited Volumes, in: CNB Financial Stability Report 2012/2013, chapter 0, pages 128-136, Czech National Bank.
    • Handle: RePEc:cnb:ocpubc:fsr1213/5
    as

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    References listed on IDEAS

    as
    1. Jan Cimburek & Miroslav Kollár & Lubos Komárek & Pavel Rezábek, 2009. "Resolving Nonperforming Assets in the Czech Republic: Theory and Practice," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(3), pages 21-28, October.
    2. Koop, Gary & Leon-Gonzalez, Roberto & Strachan, Rodney W., 2011. "Bayesian inference in a time varying cointegration model," Journal of Econometrics, Elsevier, vol. 165(2), pages 210-220.
    3. Bierens, Herman J. & Martins, Luis F., 2010. "Time-Varying Cointegration," Econometric Theory, Cambridge University Press, vol. 26(5), pages 1453-1490, October.
    4. Hulsewig, Oliver & Mayer, Eric & Wollmershauser, Timo, 2006. "Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses," Journal of Banking & Finance, Elsevier, vol. 30(10), pages 2893-2910, October.
    5. Del Giovane, Paolo & Eramo, Ginette & Nobili, Andrea, 2011. "Disentangling demand and supply in credit developments: A survey-based analysis for Italy," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2719-2732, October.
    6. repec:ces:ifodic:v:7:y:2009:i:3:p:14567090 is not listed on IDEAS
    7. Calza, Alessandro & Gartner, Christine & Sousa, João, 2001. "Modelling the demand for loans to the private sector in the euro area," Working Paper Series 55, European Central Bank.
    8. Busch, Ulrike & Scharnagl, Michael & Scheithauer, Jan, 2010. "Loan supply in Germany during the financial crisis," Discussion Paper Series 1: Economic Studies 2010,05, Deutsche Bundesbank.
    9. Michael Woodford, 2010. "Financial Intermediation and Macroeconomic Analysis," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 21-44, Fall.
    10. Balke Nathan S. & Zeng Zheng, 2013. "Credit demand, credit supply, and economic activity," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 1-38, October.
    11. Bénédicte Vidaillet & V. d'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    12. Kok, Christoffer & Rossi, Carlotta & Marqués-Ibáñez, David, 2009. "Modelling loans to non-financial corporations in the euro area," Working Paper Series 989, European Central Bank.
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    Cited by:

    1. Guglielmo Maria Caporale & Luis A. Gil-Alana, 2020. "Modelling Loans to Non-Financial Corporations within the Eurozone: A Long-Memory Approach," CESifo Working Paper Series 8674, CESifo.

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