International Finance and Accounting


This scientific article analyzes the factors that increase the efficiency of the credit channel. In particular, an increase in the share of loans in bank assets, an increase in the share of small business in GDP, underdeveloped asset securitization, low liquidity in banks and low share of foreign banks in the national banking system increase banks' exposure to changes in monetary policy. In addition, the high level of capitalization of the banking system, the very low share of short-term loans in total loans and the lack of floating interest rates weaken the bank's credit channel.


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