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¿Afecta la política monetaria al crédito bancario?: evidencia para Bolivia

Author

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  • Oscar A. Díaz Quevedo

    (Banco Central de Bolivia)

Abstract

El documento explora la existencia del canal del crédito bancario para Bolivia para el período 2005-2013. Los datos utilizados incluyeron información trimestral de los bancos y variables macroeconómicas. Las estimaciones emplearon datos de panel utilizando el Método Generalizado de Momentos (GMM) de Arellano y Bond y el modelo de efectos fijos, con el fin de comprobar la robustez de los resultados. Los resultados muestran que cambios en la política monetaria tienen efectos directos sobre la oferta de créditos bancarios, pues incrementos en la oferta de títulos conducirían a reducciones en el crecimiento de los préstamos. Por otra parte, las interacciones del tamaño y del capital de las entidades con la variable de política monetaria, reflejarían la existencia de reacciones diferenciadas de los bancos. La evidencia encontrada sugeriría que los bancos más pequeños y con menores niveles de capital reducirían sus créditos en mayor proporción ante una orientación monetaria contractiva.

Suggested Citation

  • Oscar A. Díaz Quevedo, 2014. "¿Afecta la política monetaria al crédito bancario?: evidencia para Bolivia," Serie de Documentos de Trabajo 01/2014, Banco Central de Bolivia.
  • Handle: RePEc:blv:doctra:01/2014
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    File URL: https://www.bcb.gob.bo/webdocs/publicacionesbcb/2016/06/23/10-Afecta%20la%20pol%C3%ADtica%20monetaria%20al%20cr%C3%A9dito.pdf
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    Keywords

    Política monetaria; canal del crédito; GMM;

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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