文章基本信息

标题：The Impact of Monetary Policy on Lending and Deposit Rates in Pakistan: Panel Data Analysis
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作者：Hasan Muhammad Mohsin
期刊名称：The Lahore Journal of Economics
印刷版ISSN：1811-5438
电子版ISSN：1811-5446
出版年度：2011
卷号：16
期号：SE
页码：199-213
出版社：Lahore School of Economics
摘要：This study estimates the impact of monetary policy on lending and deposit rates in Pakistan, using bank data for the period November 2001 to March 2011. We find evidence of a long-run relationship between the lending and discount rate, but the deposit rate is not co-integrated, and the pass-through is not complete. The study finds that, overall, banks pass on only 20 percent of the impact of a change in the discount rate to lenders in the first month. There is also a significant difference among various banks' pass-through rates. A short-run analysis reveals that the pass-through of the deposit rate is low at 0.16, which implies that the effectiveness of monetary policy is limited in Pakistan
关键词：Monetary Policy; Lending; Deposit Rates; Pakistan