Interest rate determination in Lebanon /

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Bibliographic Details
Author / Creator:Poddar, Tushar, author.
Imprint:[Washington, D.C.] : International Monetary Fund, IMF Institute, 2006.
Description:1 online resource (22 pages).
Language:English
Series:IMF working paper ; WP/06/94
IMF working paper ; WP/06/94.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12499706
Hidden Bibliographic Details
Notes:Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy, notably its open capital account, fixed exchange rate, high government borrowing requirement, large public debt, and high degree of deposit dollarization. We find that international interest rates are an important element in the determination of interest rates in Lebanon. In particular, the pass-through of global benchmark rates to interest rates on sovereign bonds is about 70 percent. The less-than-complete pass-through could be attributed to a home-bias effect reflecting a relatively stable and dedicated investor base. The study also shows that interest rates in Lebanon are affected by liquidity conditions as well as perceived sovereign risk.
Other form:Print version: Interest rate determination in Lebanon. [Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., 2006

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245 1 0 |a Interest rate determination in Lebanon /  |c prepared by Tushar Poddar [and others]. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, IMF Institute,  |c 2006. 
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490 1 |a IMF working paper ;  |v WP/06/94 
504 |a Includes bibliographical references. 
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520 |a This paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy, notably its open capital account, fixed exchange rate, high government borrowing requirement, large public debt, and high degree of deposit dollarization. We find that international interest rates are an important element in the determination of interest rates in Lebanon. In particular, the pass-through of global benchmark rates to interest rates on sovereign bonds is about 70 percent. The less-than-complete pass-through could be attributed to a home-bias effect reflecting a relatively stable and dedicated investor base. The study also shows that interest rates in Lebanon are affected by liquidity conditions as well as perceived sovereign risk. 
533 |a Electronic reproduction.  |b [S.l.] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2010  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a "Contents"; "I. INTRODUCTION"; "II. THEORETICAL BACKGROUND"; "III. EMPIRICAL STRATEGY"; "IV. TRENDS IN INTEREST RATES"; "V. RESULTS"; "VI. DISCUSSION"; "VII. CONCLUSIONS"; "REFERENCES" 
650 0 |a Interest rates  |z Lebanon  |x Econometric models. 
650 0 |a Country risk  |z Lebanon  |x Econometric models. 
650 6 |a Taux d'intérêt  |z Liban  |x Modèles économétriques. 
650 6 |a Risque pays  |z Liban  |x Modèles économétriques. 
650 7 |a Country risk  |x Econometric models.  |2 fast  |0 (OCoLC)fst00881450 
650 7 |a Interest rates  |x Econometric models.  |2 fast  |0 (OCoLC)fst00976180 
651 7 |a Lebanon.  |2 fast  |0 (OCoLC)fst01206063 
655 4 |a Electronic books. 
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830 0 |a IMF working paper ;  |v WP/06/94.  |0 http://id.loc.gov/authorities/names/no89010263 
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