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Is There A Bank Lending Channel of Monetary Policy in Selected MENA Countries? A Comparative Analysis


  • Adel Boughrara

    () (University of Tunis and Faculté de Droit et des Sciences Économiques et Politiques, University of Sousse)

  • Samir Ghazouani


This paper investigates whether there are differential effects of monetary policy across bank size, liquidity and capitalization in some selected MENA countries namely Egypt, Jordan, Morocco and Tunisia, to test for the presence of the bank lending channel. It uses a panel of bank balance sheet data to estimate the response of bank lending to changes in monetary policy. The role of bank capital, size and liquidity in the transmission of monetary policy is studied. Using a large set of micro data, we test the assumptions that the effect of a change in the monetary policy stance on a bank's lending activity depends on its capital, the bank capital channel, and on its liquidity base.

Suggested Citation

  • Adel Boughrara & Samir Ghazouani, 2009. "Is There A Bank Lending Channel of Monetary Policy in Selected MENA Countries? A Comparative Analysis," Working Papers 471, Economic Research Forum, revised Mar 2009.
  • Handle: RePEc:erg:wpaper:471

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    Cited by:

    1. Birendra Bahadur Budha, 2013. "The Bank Lending Channel of Monetary Policy in Nepal: Evidence from Bank Level Data," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 25(2), pages 43-65, October.
    2. Birendra Bahadur Budha, 2013. "The Bank Lending Channel of Monetary Policy of Nepal: Evidence from Bank Level," NRB Working Paper 17/2013, Nepal Rastra Bank, Research Department.
    3. Garcia-Kilroy, Catiana & Silva, Anderson Caputo, 2011. "Reforming government debt markets in MENA," Policy Research Working Paper Series 5611, The World Bank.
    4. Chileshe, Patrick Mumbi, 2017. "Banking structure and the bank lending channel of monetary policy transmission: evidence from panel data methods," MPRA Paper 82757, University Library of Munich, Germany.

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