文章基本信息

标题：Behavior of lending and deposit rates in an economy where conventional and islamic finance systems coexist:the case of Malaysia
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作者：Chu V. Nguyen ; Justo Manrique
期刊名称：Banks and Bank Systems
印刷版ISSN：1816-7403
电子版ISSN：1991-7074
出版年度：2011
卷号：6
期号：4
页码：15-22
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：Nonparametric test statistics document the nonlinear cointegration between the Malaysian lending and deposit rates. Empiri cal investigation further reveals that their spread asymmetrically adjusted to the threshold faster when the deposit rate fell relative to the lending rate than when the deposit rate moved in the opposite direction. These findings may be attributable to robust Islamic and conventional financial systems that operate parallel to each other. These empirical findings also suggest that Malaysian lending institutions in the conventional segment of the economy do not exhibit predatory pricing behavior. Furthermore,empirical results indicated that the Malaysian lending rate and deposit rate adjustments affected each other’s movements. As to the long-run behavior of lending and deposit rates,the empirical findings indicated that while the Malaysian lending rate responded to both,the deposit rate responded to neither the expansionary monetary policy,which widens the lending-deposit rate spread;nor the contractionary policy,which narrows the spread in the short run.
关键词：Islamic finance;asymmetry;lending rate;deposit rate;lending-deposit rate spread;nonlinear cointegration;Malaysia.