Determinants of Bank Lending Activities in the European Union Countries: Is There Any Difference Between Bank-based and Market-based Systems?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F15%3A43910578" target="_blank" >RIV/62156489:43110/15:43910578 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Determinants of Bank Lending Activities in the European Union Countries: Is There Any Difference Between Bank-based and Market-based Systems?

Popis výsledku v původním jazyce

Banks and financial markets are considered to be the main source of liquidity in economy. Therefore, they play a really important role in the process of providing credit to economic agents and could be responsible for the possible credit crunch problem. However, many factors could influence the lending activities of banks. The objective of the paper is to identify the link between the European bank lending activities and main macroeconomic shocks and institutional variables in the sample of EU countries within the period 1998-2013. Moreover, we differentiate between the bank-based and market based economies. The microeconomic data are provided by the Bankscope database, macroeconomic shocks and institutional data are drawn from Eurostat on-line database. We employ robust OLS estimator to identify the main determinants of bank lending activities. The results confirm significant impact of macroeconomic shocks, banking controls and institutional variables on European lending activities. While the impact of inflation rate is stronger in market-based countries, the economic activity is more important in bank-based countries. The impact of monetary policy interest rates is debatable; this variable proved to be non-significant in all models. Instead, central bank financial assets played an important role in the process of bank lending activities.

Název v anglickém jazyce

Determinants of Bank Lending Activities in the European Union Countries: Is There Any Difference Between Bank-based and Market-based Systems?

Popis výsledku anglicky

Banks and financial markets are considered to be the main source of liquidity in economy. Therefore, they play a really important role in the process of providing credit to economic agents and could be responsible for the possible credit crunch problem. However, many factors could influence the lending activities of banks. The objective of the paper is to identify the link between the European bank lending activities and main macroeconomic shocks and institutional variables in the sample of EU countries within the period 1998-2013. Moreover, we differentiate between the bank-based and market based economies. The microeconomic data are provided by the Bankscope database, macroeconomic shocks and institutional data are drawn from Eurostat on-line database. We employ robust OLS estimator to identify the main determinants of bank lending activities. The results confirm significant impact of macroeconomic shocks, banking controls and institutional variables on European lending activities. While the impact of inflation rate is stronger in market-based countries, the economic activity is more important in bank-based countries. The impact of monetary policy interest rates is debatable; this variable proved to be non-significant in all models. Instead, central bank financial assets played an important role in the process of bank lending activities.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GA14-28848S" target="_blank" >GA14-28848S: Finanční krize, depreciace a credit crunch v zemích střední a východní Evropy</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Economic Policy in the European Union Member Countries: Conference Proceedings

ISBN

978-80-248-3796-3

ISSN

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e-ISSN

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Počet stran výsledku

12

Strana od-do

315-326

Název nakladatele

Vysoká škola báňská -Technická univerzita Ostrava

Místo vydání

Ostrava

Místo konání akce

Karolinka

Datum konání akce

2. 9. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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