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Is There a Bank Lending Channel of Monetary Policy in New Zealand?
| Content Provider | AgEcon Search |
|---|---|
| Author | Guender, Alfred V. |
| Abstract | The effectiveness of the bank lending channel of monetary policy hinges on the extent to which changes in the availability of bank credit relative to non-bank credit are systematically transmitted to the real sector of the economy. On this count, there is no evidence of a link between three finance mix ,variables and economic activity in New Zealand during selected intervals over the 1967-87 period. Similar, unfavourable results are reported by the investigation of the connection between movements in an interest rate spread and real economic performance between 1975 and 1994. Moreover, neither the finance mix variable nor the spread respond consistently to changes in various indicators of monetary policy. The results reported in the paper cast serious doubt on the existence of a potent bank lending channel of monetary policy in New Zealand either before or after the reforms of the mid-1980s. |
| Related Links | https://ageconsearch.umn.edu/record/263783/files/canterbury-nz-091.pdf |
| Page Count | 61 |
| File Format | |
| DOI | 10.22004/ag.econ.263783 |
| Language | English |
| Publisher | University of Maryland |
| Publisher Date | 1997-01-01 |
| Access Restriction | Open |
| Subject Keyword | Applied Economics Agricultural Economics Agri-economic Open Access Database Research in Applied Economics Research in Agricultural Economics Higher Study On Agricultural Economics Higher Study On Applied Economics Agricultural Research Documents Agrarian Economy & Research Higher Study Agri-economics Research in Economics Agri-economic Open Access Repository Statistics in Agricultural Economics Financial Economics |
| Content Type | Text |
| Resource Type | Article |
| Subject | Economics, Econometrics and Finance |
