期刊名称：Journal of Islamic Monetary Economics and Finance
印刷版ISSN：2460-6146
电子版ISSN：2460-6618
出版年度：2017
卷号：2
期号：2
页码：193-220
语种：English
出版社：Bank Indonesia
摘要：This paper examines the impact of monetary policy on bank lending in a dual banking system,i.e.Malaysia.Making use of an unbalanced panel data setof 38 Islamic and conventional banks covering mostly 2001-2014,we findevidence that variations in monetary policy affect lending growth of Islamicbanks and,to scme extent,conventional banks.The results further reveal that,in conformity with studies using aggregate Islamic financing data,the Islamicfinancing growth reacts more strongly to monetary policy changes.Moreover,we find no marked difference between fll-fledged Islamic banks and Islamicbank subsidiaries in their responses to monetary policy.While we alsodocument some evidence indicating the significant relations between bank-specific variables and lending growth,the bank-specific variables do not seemto have any role in impacting the potency of the bank lending channel.Finally,we find that lending growth is directly related to economic growth,suggestingprocyclicality of bank lending/financing in Malaysia.These results haveimportant implications for effective implementation of monetary policy andfurther development of Islamic banks in Malaysia.
关键词：Bank lending channel;Monetary policy;Dual banking system
