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Interest rate liberalization and pass-through of monetary policy rate to bank lending rates in China
Li,Jingya; Liu,Ming Hua
2019-12-01
Source PublicationFrontiers of Business Research in China
ISSN16737431 16737326
Volume13Issue:1
Abstract

We examine whether the effectiveness of the monetary policy rate transmission differs before and after interest rate liberalization in China using the autoregressive distributed lag (ARDL) bound test and an error correction model (ECM). The results show that after liberalization the mark-up is lower, and both the long-run and short-run interest rate pass-through has become faster and more complete. We attribute our findings to the ongoing reforms of China’s banking system, which has improved the competitiveness of Chinese commercial banks.

KeywordAutoregressive Distributed Lag (Ardl) Bound Test China Error Correction Model (Ecm) Interest Rate Liberalization Interest Rate Pass-through
DOI10.1186/s11782-019-0056-z
URLView the original
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectBusiness
WOS IDWOS:000467564000001
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Cited Times [WOS]:0   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Corresponding AuthorLi,Jingya
AffiliationFaculty of Business Administration,University of Macau,,Macao
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Li,Jingya,Liu,Ming Hua. Interest rate liberalization and pass-through of monetary policy rate to bank lending rates in China[J]. Frontiers of Business Research in China,2019,13(1).
APA Li,Jingya,&Liu,Ming Hua.(2019).Interest rate liberalization and pass-through of monetary policy rate to bank lending rates in China.Frontiers of Business Research in China,13(1).
MLA Li,Jingya,et al."Interest rate liberalization and pass-through of monetary policy rate to bank lending rates in China".Frontiers of Business Research in China 13.1(2019).
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