Open Access

Transparency in Central Bank and Credit Expansion: Empirical Evidence from Asian Countries

, ,  and   
Sep 19, 2024

Cite
Download Cover

Alpanda, S., & Honig, A. (2009). The impact of central bank independence on political monetary cycles in advanced and developing nations. Journal of Money, Credit and Banking, 41(7), 1365-1389. Search in Google Scholar

Arnone, M., & Romelli, D. (2013). Dynamic central bank independence indices and inflation rate: A new empirical exploration. Journal of Financial Stability, 9(3), 385-398. Search in Google Scholar

Andrieş, A. M., Nistor, S., & Sprincean, N. (2020). The impact of central bank transparency on systemic risk—Evidence from Central and Eastern Europe. Research in International Business and Finance, 51. Search in Google Scholar

Aydemir, R., & Guloglu, B. (2017). How do banks determine their spreads under credit and liquidity risks during business cycles?. Journal of International Financial Markets, Institutions and Money, 46, 147-157. Search in Google Scholar

Akhter, S., & Daly, K. (2009). Bank health in varying macroeconomic conditions: A panel study. International Review of Financial Analysis, 18(5), 285-293. Search in Google Scholar

Arellano, M. (2003). Panel data econometrics. Oxford university press. Search in Google Scholar

Baltagi, H. B. (2005). Econometric Analysis of Panel Data . New York: John Wiley& Sons. Search in Google Scholar

Bond, S. R., Hoeffler, A., & Temple, J. R. (2001). GMM estimation of empirical growth models. Search in Google Scholar

Bond, S. R. (2002). Dynamic panel data models: a guide to micro data methods and practice. Portuguese economic journal, 1(2), 141-162. Search in Google Scholar

Blinder, A. S., Ehrmann, M., Fratzscher, M., De Haan, J., & Jansen, D. J. (2008). Central bank communication and monetary policy: A survey of theory and evidence. Journal of Economic Literature, 46(4), 910-45. Search in Google Scholar

Born, B., Ehrmann, M., & Fratzscher, M. (2012). Communicating About Macro‐prudential Supervision–A New Challenge for Central Banks. International Finance, 15(2), 179-203. Search in Google Scholar

Barth, J. R., Lin, C., Ma, Y., Seade, J., & Song, F. M. (2013). Do bank regulation, supervision and monitoring enhance or impede bank efficiency?. Journal of Banking & Finance, 37(8), 2879-2892. Search in Google Scholar

Birchwood, A., Brei, M., & Noel, D. M. (2017). Interest margins and bank regulation in Central America and the Caribbean. Journal of Banking & Finance, 85, 56-68. Search in Google Scholar

Bouakez, H., & Normandin, M. (2010). Fluctuations in the foreign exchange market: How important are monetary policy shocks?. Journal of International Economics, 81(1), 139-153. Search in Google Scholar

Cecchetti, S. G., & Krause, S. (2002). Central bank structure, policy efficiency, and macroeconomic performance: exploring empirical relationships. Review-Federal Reserve Bank of Saint Louis, 84(4), 47-60. Search in Google Scholar

Cukierman, A. (2008). Central bank independence and monetary policymaking institutions—Past, present and future. European Journal of Political Economy, 24(4), 722-736. Search in Google Scholar

Cihak, M.,Munoz, S ., Teh Sharifuddin, S. & Tintchev, K. (2012). Financial Stability Reports: What Are They Good For?,. IMF Working Paper WP/12/1, 4. Search in Google Scholar

Dincer, N., & Eichengreen, B. (2014). Central bank transparency: Causes, consequences and updates. Theoretical Inquiries in Law, 11(1), 75–123. Search in Google Scholar

Dincer, N., Eichengreen, B., & Geraats, P. (2022). Trends in monetary policy transparency: further updates. International Journal of Central Banking, 18(1), 331-348. Search in Google Scholar

De Moraes, C., Barroso, G., & Nicolay, R. (2018). Monetary Policy and Credit Spread: A New Risk-Taking Channel. The Empirical Economics Letters., 17(12), 1497-1506. Search in Google Scholar

Eichler, S., Littke, H. C., & Tonzer, L. (2017). Central bank transparency and cross-border banking. Journal of International Money and Finance, 74, 1-30. Search in Google Scholar

Eijffinger, S. C., & Geraats, P. M. (2006). How transparent are central banks?. European Journal of Political Economy, 22(1), 1-21. Search in Google Scholar

Förch, T., & Sunde, U. (2012). Central bank independence and stock market returns in emerging economies. Economics Letters, 115(1), 77-80. Search in Google Scholar

Fatum, R., & Scholnick, B. (2008). Monetary policy news and exchange rate responses: Do only surprises matter?. Journal of Banking & Finance, 32(6), 1076-1086. Search in Google Scholar

Geraats, P. M. (2002). Central bank transparency. The economic journal, 112(483), F532-F565. Search in Google Scholar

Ho, T. S., & Saunders, A. (1981). The determinants of bank interest margins: theory and empirical evidence. Journal of Financial and Quantitative analysis, 581-600. Search in Google Scholar

Honohan, P., & Beck, T. (2007). Making finance work for Africa. The World Bank. Search in Google Scholar

Hawtrey, K., & Liang, H. (2008). Bank interest margins in OECD countries. The North American Journal of Economics and Finance, 19(3), 249-260. Search in Google Scholar

Jappelli, T., & Pagano, M. (2000). Information sharing in credit markets: a survey (Vol. 36). CSEF working paper. Search in Google Scholar

Johnson, J., Arel‐Bundock, V., & Portniaguine, V. (2019). Adding rooms onto a house we love: Central banking after the global financial crisis. Public administration, 97(3), 546-560. Search in Google Scholar

Knütter, R., Mohr, B., & Wagner, H. (2011). The effects of central bank communication on financial stability: A systematization of the empirical evidence. FernUniversität in Hagen. Search in Google Scholar

Kuttner, K. N., & Posen, A. S. (2001). Inflation, monetary transparency, and G3 exchange rate volatility. Adapting to financial globalisation, 14, 229. Search in Google Scholar

Kurov, A. (2012). What determines the stock market’s reaction to monetary policy statements?. Review of Financial Economics, 21(4), 175-187. Search in Google Scholar

Klomp, J., & de Haan, J. (2010). Inflation and central bank independence: A meta‐regression analysis. Journal of Economic Surveys, 24(4), 593-621. Search in Google Scholar

Liao, G. Y. (2020). Credit migration and covered interest rate parity. Journal of Financial Economics, 138(2), 504-525. Search in Google Scholar

Montes, G. C., & Nicolay, R. T. F. (2017). Does clarity of central bank communication affect credibility? Evidences considering governor-specific effects. Applied Economics, 49(32), 3163-3180. Search in Google Scholar

Ordonez, G. (2013). The asymmetric effects of financial frictions. Journal of Political Economy, 121(5), 844-895. Search in Google Scholar

Papadamou, S., Sidiropoulos, M., & Spyromitros, E. (2014). Does central bank transparency affect stock market volatility?. Journal of International Financial Markets, Institutions and Money, 31, 362-377. Search in Google Scholar

Papadamou, S., Sidiropoulos, M., & Spyromitros, E. (2017). Does central bank independence affect stock market volatility?. Research in International Business and Finance, 42, 855-864. Search in Google Scholar

Pelizzon, L., Subrahmanyam, M. G., Tomio, D., & Uno, J. (2016). Sovereign credit risk, liquidity, and European Central Bank intervention: Deus ex machina?. Journal of Financial Economics, 122(1), 86-115. Search in Google Scholar

Powel, J. H. (2018). “Financial Stability and Central Bank Transparency: 350 years of Central Banking: The Past, the Present and the Future”. (Accessed on 25 May 2018). Search in Google Scholar

Rhee, H. J., & Turdaliev, N. (2013). Central bank transparency: Does it matter?. International Review of Economics & Finance, 27, 183-197. Search in Google Scholar

Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. The Stata Journal, 9(1), 86-136. Search in Google Scholar

Schinasi, G. J. (2004). Defining financial stability, IMF Working Paper no. 187, Washington, DC. Search in Google Scholar

Tiberto, B. P., De Moraes, C. O., & Corrêa, P. P. (2020). Does transparency of central banks communication affect credit market? Empirical evidence for advanced and emerging markets. The North American Journal of Economics and Finance, 101207. Search in Google Scholar

Trabelsi, E. (2022). Macroprudential transparency and price stability in emerging and developing countries. Journal of Central Banking Theory and Practice, 11(1), 105-129. Search in Google Scholar

Ugur, A., & Erkus, H. (2010). Determinants of the net interest margins of banks in Turkey. Journal of Economic and Social Research, 12(2), 101. Search in Google Scholar

Woodford, M. (2010). Financial intermediation and macroeconomic analysis. Journal of Economic Perspectives, 24(4), 21-44. Search in Google Scholar

Weber, C. S. (2019). The effect of central bank transparency on exchange rate volatility. Journal of International Money and Finance, 95, 165-181. Search in Google Scholar

Yıldırım-Karaman, S. (2017). Uncertainty shocks, central bank characteristics and business cycles. Economic Systems, 41(3), 379-388. Search in Google Scholar

Zhou, K., & Wong, M. C. (2008). The determinants of net interest margins of commercial banks in mainland China. Emerging Markets Finance and Trade, 44(5), 41-53. Search in Google Scholar

Language:
English
Publication timeframe:
3 times per year
Journal Subjects:
Business and Economics, Business Management, Business Management, other