Bank Lending, Risk Taking and the Transmission of Monetary Policy: New Evidence for Colombia

Serie

• Borradores de economía

Resumen

• We study the existence of a monetary policy transmission mechanism through banks in Colombia, using monthly banks’ balance sheet data for the period 1996:4 – 2012:12. We obtain results which are consistent with the basic postulates of the bank lending channel (and the risk-taking channel) literature. The impact of short-term interest rates on the growth rate of loans is negative, indicating that increases in these rates lead to reductions in the growth rate of loans. This impact is stronger for consumer loans than for commercial loans. We find important heterogeneity in the monetary policy transmission across banks depending on banks-specific characteristics.

autores

• Gómez-González, José Eduardo
• Ojeda-Joya, Jair
• Reyes, Nidia Ruth

fecha de publicación

• 2013-06

Área temática

• E5 - Política monetaria, bancos centrales, oferta de dinero y crédito
• E52 - Política monetaria
• E59 - Política monetaria, bancos centrales, oferta de dinero y crédito: Otros
• G21 - Bancos; Instituciones de depósito; Instituciones Microfinancieras; Hipotecas

Enfoque geográfico

• Colombia  Country
• South America  Continent

Líneas de investigación

• Bank Lending Channel
• Colombia
• Monetary Policy Transmission
• Risk Taking Channel

Identificador de objeto digital (DOI)

• https://doi.org/10.32468/be.772

Issue

• 772