Bank lending channel of monetary policy: evidence for Colombia, using a firms' panel

Número: 
545
Publicado: 
Clasificación JEL: 
E5, E52, E59, G21
Palabras clave: 
Monetary transmission, bank lending channel, Colombia

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Lina Fernanda Torres-Gutierrez, Gonzalo Ossa-Stipcianos, Edwin Mauricio Parra-Rodriguez, Egberto Alexander Riveros, Alvaro José Martinez-Monroy, Julián Andrés Gomez-Duran, Juan Sebastián Rojas-Moreno

In this paper we find empirical evidence of bank lending channel for Colombia , using a balanced panel data of about four thousand non-financial firms. We find that increases in the interest rate, proxiing for the monetary policy instrument, lead to a red