Recent Credit Stagnation in the MENA Region: What to Expect? What Can Be Done?
AbstractThis paper examines the recent credit slowdown among Middle Eastern and North African (MENA) countries from three analytical angles. First, it finds that, similar to other regions and to its past history, a credit boom preceded the current slowdown, and that a protracted period of sluggish growth is likely going forward. Second, it uncovers a key role played by bank funding (deposit growth and external borrowing slowed considerably) but whose effect was frequently dampened by expansionary monetary policy. Third, bank-level fundamentals - capitalization and loan quality - helped to explain differences in credit growth across banks and countries.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/219.
Date of creation: 01 Sep 2010
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-16 (All new papers)
- NEP-ARA-2010-10-16 (MENA - Middle East & North Africa)
- NEP-BAN-2010-10-16 (Banking)
- NEP-CWA-2010-10-16 (Central & Western Asia)
- NEP-FDG-2010-10-16 (Financial Development & Growth)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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