Bank Lending Rates and Financial Structure in Italy: A Case Study
AbstractThe paper notes that the high degree of stickiness of bank lending rates observed in Italy in the past is related to constraints on competition within the banking and financial markets. Using individual data for 63 local Italian banks in a variety of financial environments, it discusses the effect on the lending rate determination process of the recent sweeping financial liberalization in Italy. The paper also discusses the role of the discount rate in speeding up the adjustment process of bank interest rates, and the pros and cons of its possible indexation.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 95/38.
Date of creation: 01 Apr 1995
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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Other versions of this item:
- Carlo Cottarelli & Giovanni Ferri & Andrea Generale, 1995. "Bank Lending Rates and Financial Structure in Italy: A Case Study," IMF Staff Papers, Palgrave Macmillan, vol. 42(3), pages 670-700, September.
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
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