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The impact of foreign banks on monetary policy transmission during the global financial crisis of 2007-9: Evidence from Korea

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  • The impact of foreign banks on monetary policy transmission during the global financial crisis of 2007-9: Evidence from Korea
  • Jeon, Bang Nam; Lim, Hosung; Wu, Ji
  • Bank of Korea


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Title The impact of foreign banks on monetary policy transmission during the global financial crisis of 2007-9: Evidence from Korea
Similar Titles
Material Type Reports
Author(English)

Jeon, Bang Nam; Lim, Hosung; Wu, Ji

Publisher

[Seoul, South Korea]:Bank of Korea

Date 2013-12
Pages 28
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Conditions
Holding SSRN

Abstract

This paper examines the impact of foreign banks on the monetary policy transmission mechanism in the Korean economy during the period from 2000 to 2012, with a specific focus on the lending behavior by banks with different types of ownership. Using the bank-level panel data of the banking system in Korea, we present consistent evidence on the buffering and hampering impact of foreign banks, especially foreign bank branches, on the effectiveness of the monetary policy transmission mechanism in Korea from the bank-lending channel perspective during the period of the global financial crisis of 2008-9.

User Note

This paper was prepared as one of joint research projects between the Bank of Korea (BOK) and the Korea-America Economic Association (KAEA). We appreciate Woon Gyu Choi, Kyuil Chung, Junhan Kim, Hyung-Kwon Jeong, Byung Kwun Ahn and session participants for very useful comments and suggestions, which were provided at the research seminar held at the Bank of Korea, July 2013.