Original scientific paper
Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia
Jane Bogoev
Full text: croatian pdf 142 Kb
page 63-110
downloads: 569
cite
APA 6th Edition
Bogoev, J. (2010). Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia. Privredna kretanja i ekonomska politika, 20 (124), 63-110. Retrieved from https://hrcak.srce.hr/62228
MLA 8th Edition
Bogoev, Jane. "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia." Privredna kretanja i ekonomska politika, vol. 20, no. 124, 2010, pp. 63-110. https://hrcak.srce.hr/62228. Accessed 24 Nov. 2024.
Chicago 17th Edition
Bogoev, Jane. "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia." Privredna kretanja i ekonomska politika 20, no. 124 (2010): 63-110. https://hrcak.srce.hr/62228
Harvard
Bogoev, J. (2010). 'Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia', Privredna kretanja i ekonomska politika, 20(124), pp. 63-110. Available at: https://hrcak.srce.hr/62228 (Accessed 24 November 2024)
Vancouver
Bogoev J. Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia. Privredna kretanja i ekonomska politika [Internet]. 2010 [cited 2024 November 24];20(124):63-110. Available from: https://hrcak.srce.hr/62228
IEEE
J. Bogoev, "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia", Privredna kretanja i ekonomska politika, vol.20, no. 124, pp. 63-110, 2010. [Online]. Available: https://hrcak.srce.hr/62228. [Accessed: 24 November 2024]
Full text: english pdf 579 Kb
page 63-110
downloads: 1.492
cite
APA 6th Edition
Bogoev, J. (2010). Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia. Privredna kretanja i ekonomska politika, 20 (124), 63-110. Retrieved from https://hrcak.srce.hr/62228
MLA 8th Edition
Bogoev, Jane. "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia." Privredna kretanja i ekonomska politika, vol. 20, no. 124, 2010, pp. 63-110. https://hrcak.srce.hr/62228. Accessed 24 Nov. 2024.
Chicago 17th Edition
Bogoev, Jane. "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia." Privredna kretanja i ekonomska politika 20, no. 124 (2010): 63-110. https://hrcak.srce.hr/62228
Harvard
Bogoev, J. (2010). 'Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia', Privredna kretanja i ekonomska politika, 20(124), pp. 63-110. Available at: https://hrcak.srce.hr/62228 (Accessed 24 November 2024)
Vancouver
Bogoev J. Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia. Privredna kretanja i ekonomska politika [Internet]. 2010 [cited 2024 November 24];20(124):63-110. Available from: https://hrcak.srce.hr/62228
IEEE
J. Bogoev, "Banks’ Risk Preferences and Their Impact on the Loan Supply Function: Empirical Investigation for the Case of the Republic of Macedonia", Privredna kretanja i ekonomska politika, vol.20, no. 124, pp. 63-110, 2010. [Online]. Available: https://hrcak.srce.hr/62228. [Accessed: 24 November 2024]
Abstract
This paper empirically investigates the existence of a bank lending channel and its determinants in the Republic of Macedonia. The results suggest that there is robust statistical evidence in favour of the existence of a bank lending channel. The most influential bank-specific characteristic is the non-performing loans (NPL) ratio which might be a proxy for banks’ risk preferences. This would imply that banks’ risk preferences are among the most influential factors in determining banks’ lending activities. However, an alternative interpretation of the NPL ratio suggests that it might serve as an indicator of the ex-post quality of the loan portfolio and, hence, may indicate an increase in banks’ external financing premium. Regarding the rest of the bank-specific characteristics, empirical results show that bank liquidity has the opposite sign from what the theory suggests, while there is no strong evidence that bank capital has impact on the loan supply function as the results are sensitive to different estimation methods and the number of instruments created. Regarding the asset size, the results do not imply any statistically significant impact.
Keywords
bank lending channel; monetary policy; system GMM; non-performing loans
Hrčak ID:
62228
URI
https://hrcak.srce.hr/62228
Publication date:
24.11.2010.
Article data in other languages:
croatian
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