DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012

Detalhes bibliográficos
Autor(a) principal: Almeida, Fernanda Dantas
Data de Publicação: 2017
Outros Autores: Divino, José Angelo
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/52337
Resumo: The objective of this paper is to identify the major determinants of banking credit in the Brazilian economy, considering the influence of specific characteristics of the financial institutions and monetary policy. The empirical model is based on a theoretical approach of the credit channel in which banks decide on their loan supply taking into account the uncertain future monetary policy. The sample consists of a balanced panel, composed of 75 banks in the period 2001-2012. This paper contributes with the literature by showing that there was no relevant impact from the macroeconomic environment on the credit supply in the analyzed period. The government has adopted a countercyclical credit policy mismatched from prevailing macroeconomic conditions. In addition, the growth of credit granted to individuals, who are less sensitive to the macroeconomic environment, also contributed to the little influence of the monetary policy on the credit expansion. Moreover, the results illustrated the importance of the banks’ strategy, in addition to the inertial effect of the credit supply.
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spelling DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012DETERMINANTES DO CRÉDITO BANCÁRIO NO BRASIL: UMA ANÁLISE DE FATORES MICRO E MACROECONÔMICOS DE 2001 A 2012Bank creditMonetary policyPanel dataE51E52G21Crédito BancárioPolítica MonetáriaDados em PainelE51E52G21The objective of this paper is to identify the major determinants of banking credit in the Brazilian economy, considering the influence of specific characteristics of the financial institutions and monetary policy. The empirical model is based on a theoretical approach of the credit channel in which banks decide on their loan supply taking into account the uncertain future monetary policy. The sample consists of a balanced panel, composed of 75 banks in the period 2001-2012. This paper contributes with the literature by showing that there was no relevant impact from the macroeconomic environment on the credit supply in the analyzed period. The government has adopted a countercyclical credit policy mismatched from prevailing macroeconomic conditions. In addition, the growth of credit granted to individuals, who are less sensitive to the macroeconomic environment, also contributed to the little influence of the monetary policy on the credit expansion. Moreover, the results illustrated the importance of the banks’ strategy, in addition to the inertial effect of the credit supply.O objetivo deste artigo é identificar os determinantes do crédito bancário brasileiro, considerando as estratégias específicas das instituições financeiras e a política monetária adotada. O modelo empírico baseia-se numa abordagem teórica do canal de crédito em que os bancos decidem sobre sua oferta de empréstimo levando-se em consideração a política monetária futura incerta. A amostra utilizada consiste em um painel balanceado composto por 75 instituições financeiras no período de 2001 a 2012. Este artigo contribui com a literatura por constatar que não houve impacto direto do ambiente econômico sobre a oferta de crédito no período analisado, dado que o governo adotou uma política creditícia anticíclica descasada das condições macroeconômicas vigentes. Além disso, o crescimento das concessões a pessoas físicas, que são menos sensíveis às variações macroeconômicas, também colaborou para que a política monetária tivesse pouca influência sobre a expansão do crédito. Ademais, os resultados destacam-se por demonstrarem a importância da estratégia dos bancos, além de evidenciar o efeito inercial do crédito.UFRGS2017-12-18info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/5233710.22456/2176-5456.52337Análise Econômica; Vol. 35 No. 68 (2017): setembro de 2017Análise Econômica; v. 35 n. 68 (2017): setembro de 20172176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/52337/45680Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessAlmeida, Fernanda DantasDivino, José Angelo2017-12-19T11:42:48Zoai:seer.ufrgs.br:article/52337Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2017-12-19T11:42:48Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
DETERMINANTES DO CRÉDITO BANCÁRIO NO BRASIL: UMA ANÁLISE DE FATORES MICRO E MACROECONÔMICOS DE 2001 A 2012
title DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
spellingShingle DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
Almeida, Fernanda Dantas
Bank credit
Monetary policy
Panel data
E51
E52
G21
Crédito Bancário
Política Monetária
Dados em Painel
E51
E52
G21
title_short DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
title_full DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
title_fullStr DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
title_full_unstemmed DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
title_sort DETERMINANTS OF BANKING CREDIT IN THE BRAZILIAN ECONOMY: THE ROLE OF MICRO AND MACROECONOMIC FACTORS FROM 2001 TO 2012
author Almeida, Fernanda Dantas
author_facet Almeida, Fernanda Dantas
Divino, José Angelo
author_role author
author2 Divino, José Angelo
author2_role author
dc.contributor.author.fl_str_mv Almeida, Fernanda Dantas
Divino, José Angelo
dc.subject.por.fl_str_mv Bank credit
Monetary policy
Panel data
E51
E52
G21
Crédito Bancário
Política Monetária
Dados em Painel
E51
E52
G21
topic Bank credit
Monetary policy
Panel data
E51
E52
G21
Crédito Bancário
Política Monetária
Dados em Painel
E51
E52
G21
description The objective of this paper is to identify the major determinants of banking credit in the Brazilian economy, considering the influence of specific characteristics of the financial institutions and monetary policy. The empirical model is based on a theoretical approach of the credit channel in which banks decide on their loan supply taking into account the uncertain future monetary policy. The sample consists of a balanced panel, composed of 75 banks in the period 2001-2012. This paper contributes with the literature by showing that there was no relevant impact from the macroeconomic environment on the credit supply in the analyzed period. The government has adopted a countercyclical credit policy mismatched from prevailing macroeconomic conditions. In addition, the growth of credit granted to individuals, who are less sensitive to the macroeconomic environment, also contributed to the little influence of the monetary policy on the credit expansion. Moreover, the results illustrated the importance of the banks’ strategy, in addition to the inertial effect of the credit supply.
publishDate 2017
dc.date.none.fl_str_mv 2017-12-18
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/52337
10.22456/2176-5456.52337
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/52337
identifier_str_mv 10.22456/2176-5456.52337
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/52337/45680
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 35 No. 68 (2017): setembro de 2017
Análise Econômica; v. 35 n. 68 (2017): setembro de 2017
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
_version_ 1799766267549188096

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