Effect of Monetary Policy Instruments on Shadow Banking
Yükleniyor...
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Business & Management Studies: An International Journal
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Shadow banks are financial mediators. There are maturity, credit, and liquidity transformation without access to central bank liquidity and public sector credit guarantees in their performance. The principle purpose of this study is to answer the question of the relationship between shadow banking and monetary policy, all financial activities that require a private or public payment guarantee other than traditional banking. This study analyses the short and long-term effects of national income, policy rate, CPI and money supply (M1) on shadow banking by using Panel ARDL method in selected ten countries throughout 2002-2016. The findings of the analysis point out that there is a short- and significant long-term relationship between the indicators discussed. Short-term PMG estimation results indicate that the long-term equilibrium will be reached over for approximately four years. Also, long-term PMG estimation results also pointed to the existence of a significant relationship between indicators, apart from national income. It is determined that the money supply and policy interest rate had a positive relation and the consumer price index had a negative relation with shadow banking.
Açıklama
Anahtar Kelimeler
monetary policy, shadow banking, Panel ARDL
Kaynak
Business & Management Studies: An International Journal
WoS Q Değeri
Scopus Q Değeri
Cilt
8
Sayı
3
Künye
Fatih, O. K. U. R., & SOYLU, Ö. B. (2020). Effect of Monetary Policy Instruments on Shadow Banking. Business & Management Studies: An International Journal, 8(3), 2531-2545.
