Title Testing a disequilibrium model of lending rate determination : the case of Malaysia / prepared by Barry Scholnick

Published [Washington, D.C.?] : International Monetary Fund, Central Banking Department, 1991

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Description 1 online resource (iii, 27 pages) : illustrations Series IMF working paper ; WP/91/84 IMF working paper ; WP/91/84. Summary This study examines whether lending rates cleared the market for loans in Malaysia after interest rate liberalization. It is based on a theoretical model in which adverse selection and marginal cost pricing are brought together by the use of a quadratic loss function in the error correction format. This allows for the use of the cointegration methodology. Long-run tests support the model proposed in the paper, while rejecting part of the financial liberalization model. from the short-run results it is concluded that there is a large lag before lending rates respond to exogenous shocks, thus confirming that they do not fully clear the market for loans Bibliography Includes bibliographical references (pages 26-27) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Interest rates -- Malaysia Monetary policy -- Malaysia Monetary policy Economic policy Interest rates SUBJECT Malaysia -- Economic policy Subject Malaysia Form Electronic book Author International Monetary Fund. Central Banking Department, author. ISBN 1455207012 9781455207015 146239941X 9781462399413

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