Bank Lending Rates and Financial Structure in Italy: A Case Study
The 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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Volume (Year): 42 (1995)
Issue (Month): 3 (September)
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