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Is there a Bank Lending Channel of Monetary Policy in Selected Mena Countries?

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  • Adel Boughrara
  • Samir Ghazouani

Abstract

This paper investigates whether or not there are differential effects of monetary policy across bank characteristics in some selected MENA countries namely Egypt, Jordan, Morocco, and Tunisia, to test for the presence of the bank lending channel (BLC). It uses a panel of micro bank balance sheet data from 1989 to 2007 to estimate the response of bank lending to changes in the monetary policy stance. The assumptions that the effect of a change in the monetary policy stance on a bank’s lending activity depends on its capital, size, and on its liquidity base are tested. It has been found that the BLC is operative in almost all the countries. More specifically, the effects of bank characteristics in shaping the banks reaction to changes in the monetary policy are not uniform through the four countries.

Suggested Citation

  • Adel Boughrara & Samir Ghazouani, 2010. "Is there a Bank Lending Channel of Monetary Policy in Selected Mena Countries?," Middle East Development Journal, Taylor & Francis Journals, vol. 2(2), pages 251-282, January.
    • Handle: RePEc:taf:rmdjxx:v:2:y:2010:i:2:p:251-282
    DOI: 10.1142/S1793812010000253
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    Cited by:

    1. Birendra Bahadur Budha, 2013. "The Bank Lending Channel of Monetary Policy in Nepal: Evidence from Bank Level Data," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 25(2), pages 43-65, October.
    2. Ghosh Saibal, 2013. "Funding Structure, Procyclicality and Lending: Evidence from GCC Banks," Review of Middle East Economics and Finance, De Gruyter, vol. 9(2), pages 241-270, August.
    3. repec:nrb:wpaper:nrbwp172013 is not listed on IDEAS
    4. Haddou, Samira, 2022. "International financial stress spillovers to bank lending: Do internal characteristics matter?," International Review of Financial Analysis, Elsevier, vol. 83(C).
    5. Richard Adjei Dwumfour & Eric Fosu Oteng-Abayie & Emmanuel Kwasi Mensah, 2022. "Bank efficiency and the bank lending channel: new evidence," Empirical Economics, Springer, vol. 63(3), pages 1489-1542, September.
    6. Birendra Bahadur Budha, 2013. "The Bank Lending Channel of Monetary Policy of Nepal: Evidence from Bank Level," NRB Working Paper 17/2013, Nepal Rastra Bank, Research Department.
    7. Birendra Bahadur Budha, 2013. "The Bank Lending Channel of Monetary Policy in Nepal: Evidence from Bank Level Data," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 25(2), pages 43-65, October.

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