High Interest Rates Spreads And The Costs Of Intermediation
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High Interest Rates Spreads And The Costs Of Intermediation
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Author : James A. Hanson
language : en
Publisher:
Release Date : 1986
High Interest Rates Spreads And The Costs Of Intermediation written by James A. Hanson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
High interest rates have become a global concern in both the industrialized and developing countries. In some developing countries they have reached real levels far above even the unprecedented rates prevailing in international capital markets. Such rates prejudice investment and clearly require attention if growth is to be resumed during adjustment. The two papers in this volume analyze some of the causes of high real rates and suggest some policy options for bringing rates down. The first paper summarizes the Industry Department's ongoing work on high real rates while the second paper presents perhaps the first cross-country analysis of banking costs and profits in developing countries. The papers conclude that reductions in direct taxes and in reserve requirements and forced investments could reduce the gap between deposit and lending rates dramatically, and thus lower real lending rates sharply.
Interest Spreads In Banking
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Author : Mr.Adolfo Barajas
language : en
Publisher: International Monetary Fund
Release Date : 1998-08-01
Interest Spreads In Banking written by Mr.Adolfo Barajas and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-08-01 with Business & Economics categories.
This paper examines the determinants of the high intermediation spread observed in the Colombian banking sector for over two decades. A reduced-form equation is estimated on the basis of a bank profit maximization model that permits a decomposition into operational costs, financial taxation, market power, and loan quality. Although the average spread did not change between the pre liberalization (1974-88) and post liberalization (1991-96) periods, its composition did, with market power being significantly reduced and the responsiveness to loan quality increased. Colombia’s progress in reducing operational costs and financial taxation and improving loan quality, will determine whether it can narrow the spread.
Why So High
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Author : Philip Lawton Brock
language : en
Publisher: IDB
Release Date : 2000
Why So High written by Philip Lawton Brock and has been published by IDB this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Determinants Of Bank Interest Margins In The Caucasus And Central Asia
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Author : Raja Almarzoqi
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-29
Determinants Of Bank Interest Margins In The Caucasus And Central Asia written by Raja Almarzoqi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-29 with Business & Economics categories.
In this paper, we use a bank-level panel dataset to investigate the determinants of bank interest margins in the Caucasus and Central Asia (CCA) over the period 1998–2013. We apply the dealership model of Ho and Saunders (1981) and its extensions to assess the extent to which high spreads of banks in the CCA can be related to bank-specific variables, to competition, and to macroeconomic factors. We find that interest spreads are affected by operating cost, credit risk, liquidity risk, bank size, bank diversification, banking sector competition, and macroeconomic policies; but the impact depends on the country.
Inside And Outside Liquidity
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Author : Bengt Holmstrom
language : en
Publisher: MIT Press
Release Date : 2013-01-11
Inside And Outside Liquidity written by Bengt Holmstrom and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-11 with Business & Economics categories.
Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Do Interest Rate Controls Work Evidence From Kenya
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Author : Mr.Emre Alper
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-31
Do Interest Rate Controls Work Evidence From Kenya written by Mr.Emre Alper and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-31 with Business & Economics categories.
This paper reviews the impact of interest rate controls in Kenya, introduced in September 2016. The intent of the controls was to reduce the cost of borrowing, expand access to credit, and increase the return on savings. However, we find that the law on interest rate controls has had the opposite effect of what was intended. Specifically, it has led to a collapse of credit to micro, small, and medium enterprises; shrinking of the loan book of the small banks; and reduced financial intermediation. We also show that interest rate caps reduced the signaling effects of monetary policy. These suggest that (i) the adverse effects could largely be avoided if the ceiling was high enough to facilitate lending to higher risk borrowers; and (ii) alternative policies could be preferable to address concerns about the high cost of credit.
Banking Spreads In Latin America
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Author : Gaston Gelos
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2006-02-01
Banking Spreads In Latin America written by Gaston Gelos and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-01 with categories.
Intermediation spreads in Latin America are high by international standards. This paper examines the determinants of bank interest margins in that region using bank and country-level data from 85 countries, including 14 Latin American economies. The results suggest that Latin America has higher interest rates, less efficient banks, and larger reserve requirements than other regions and that these factors have a significant impact on spreads. However, Latin American countries do not differ markedly from their peers in other aspects that are found important in determining the cost of financial intermediation, such as inflation and bank profit taxation.
Interest Spreads In Banking
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Author : Mr. Adolfo Barajas
language : en
Publisher: International Monetary Fund
Release Date : 1998-08-01
Interest Spreads In Banking written by Mr. Adolfo Barajas and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-08-01 with Business & Economics categories.
This paper examines the determinants of the high intermediation spread observed in the Colombian banking sector for over two decades. A reduced-form equation is estimated on the basis of a bank profit maximization model that permits a decomposition into operational costs, financial taxation, market power, and loan quality. Although the average spread did not change between the pre liberalization (1974-88) and post liberalization (1991-96) periods, its composition did, with market power being significantly reduced and the responsiveness to loan quality increased. Colombia’s progress in reducing operational costs and financial taxation and improving loan quality, will determine whether it can narrow the spread.
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
Quantifying The Impact Of Financial Development On Economic Development
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Author : Jeremy Greenwood
language : en
Publisher: DIANE Publishing
Release Date : 2010-10
Quantifying The Impact Of Financial Development On Economic Development written by Jeremy Greenwood and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10 with Business & Economics categories.
How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the years 1974 and 2004. It is then used to study the international data, using cross-country interest-rate spreads and per-capita GDP. The analysis suggests that a country like Uganda could increase its output by 140 to 180 percent if it could adopt the world's best practice in the financial sector. Still, this amounts to only 34 to 40 percent of the gap between Uganda's potential and actual output. Charts and tables.