Banking Sector Fundamentals: Learning from the Recent Bank Lending Contraction
The paper investigates the recent contraction of bank lending in Thailand and its implication for the economy. Analyses are conducted at both aggregate and disaggregate levels. At the aggregate level, a disequilibrium econometric estimation is employed to assess the relative extent in which supply and demand factors have contributed to the credit slowdown. At the disaggregate level, the paper uses individual bank data to analyze relationship between measures of bank condition and bank lending behavior. The paper finds that availability of loanable funds and NPL overhang, both of which played a prominent role during the early stage of the contraction period, no longer appear to be major constraining factors of loan growth.
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- Agenor, Pierre-Richard & Aizenman, Joshua & Hoffmaister, Alexander, 2000.
"The credit crunch in East Asia : what can bank excess liquid assets tell us ?,"
Policy Research Working Paper Series
2483, The World Bank.
- Agenor, Pierre-Richard & Aizenman, Joshua & Hoffmaister, Alexander W., 2004. "The credit crunch in East Asia: what can bank excess liquid assets tell us?," Journal of International Money and Finance, Elsevier, vol. 23(1), pages 27-49, February.
- P.R. Agenor & J. Aizenman & A. Hoffmaister, 2000. "The Credit Crunch in East Asia: What can Bank Excess Liquid Assets Tell us?," NBER Working Papers 7951, National Bureau of Economic Research, Inc.
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- Sealey, C W, Jr, 1979. "Credit Rationing in the Commercial Loan Market: Estimates of a Structural Model under Conditions of Disequilibrium," Journal of Finance, American Finance Association, vol. 34(3), pages 689-702, June.
- Adolfo Barajas & Roberto Steiner, 2002. "Credit Stagnation in Latin America," IMF Working Papers 02/53, International Monetary Fund.
- Domac, Ilker & Ferri, Giovanni, 1998. "The real impact of financial shocks : evidence from the Republic of Korea," Policy Research Working Paper Series 2010, The World Bank.
- Ellis W. Tallman & Nargis Bharucha, 2000. "Credit crunch or what? Australian banks during the 1986–93 credit cycle," Economic Review, Federal Reserve Bank of Atlanta, issue Q3, pages 13-34.
- Ghosh, Swati R. & Ghosh, Atish R., 2000.
"East Asia in the aftermath: Was there a crunch?,"
00-5, Deutsche Bank Research.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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