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Recent Credit Stagnation in the Mena Region

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Author Info

  • Ralph Chami
  • Raphael A. Espinoza
  • Adolfo Barajas
  • Heiko Hesse

Abstract

This 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 Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 10/219.

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Length: 19
Date of creation: 01 Sep 2010
Date of revision:
Handle: RePEc:imf:imfwpa:10/219

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Related research

Keywords: Bank credit; Banking sector; Credit expansion; Economic growth; credit booms; credit boom; banking; pre-crisis; bank lending; banking system; financial crisis; bank balance sheets; bank reserves; income statement; bank soundness; recessions; bank liquidity; bank capital; bank behavior; post-crisis periods; banks balance sheet; banks ? balance sheets; financial crises; country comparison; banking crisis; financial deepening; banking practices; banking systems; bank loans; retained earnings; blanket deposit guarantees; global financial crisis; bank data; corporate sector; nonperforming loan; deposit guarantees; bank funding; bank profits;

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References

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  1. Prakash Kannan, 2010. "Credit Conditions and Recoveries From Recessions Associated with Financial Crises," IMF Working Papers 10/83, International Monetary Fund.
  2. Adolfo Barajas & Roberto Steiner, 2002. "Credit Stagnation in Latin America," IMF Working Papers 02/53, International Monetary Fund.
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Citations

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Cited by:
  1. Selim Elekdag & Yiqun Wu, 2011. "Rapid Credit Growth," IMF Working Papers 11/241, International Monetary Fund.
  2. Herrera, Santiago & Hurlin, Christophe & Zaki, Chahir, 2013. "Why don't banks lend to Egypt's private sector?," Economic Modelling, Elsevier, vol. 33(C), pages 347-356.
  3. Vahram Stepanyan & Kai Guo, 2011. "Determinants of Bank Credit in Emerging Market Economies," IMF Working Papers 11/51, International Monetary Fund.
  4. Carlos Montoro & Liliana Rojas-Suarez, 2012. "Credit at times of stress: Latin American lessons from the global financial crisis," BIS Working Papers 370, Bank for International Settlements.
  5. Selim Elekdag & Yiqun Wu, 2013. "Rapid Credit Growth in Emerging Markets: Boon or Boom-Bust?," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 49(5), pages 45-62, September.
  6. Corinne Delechat & Camila Henao Arbelaez & Priscilla S. Muthoora & Svetlana Vtyurina, 2012. "The Determinants of Banks' Liquidity Buffers in Central America," IMF Working Papers 12/301, International Monetary Fund.
  7. Liliana Rojas-Suarez and Carlos Montoro, 2012. "Credit at Times of Stress: Latin American Lessons from the Global Financial Crisis - Working Paper 289," Working Papers 289, Center for Global Development.

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