05658oam 22013814 450 991078833930332120230721045649.01-4623-9613-51-4527-5310-597866128427571-282-84275-71-4518-7201-1(CKB)3170000000055223(EBL)1608223(SSID)ssj0000940103(PQKBManifestationID)11483771(PQKBTitleCode)TC0000940103(PQKBWorkID)10948460(PQKB)11763016(OCoLC)650275282(MiAaPQ)EBC1608223(IMF)WPIEE2009053(EXLCZ)99317000000005522320020129d2009 uf 0engur|n|---|||||txtccrCredit Market in Morocco : A Disequilibrium Approach /Nada Oulidi, Laurence AllainWashington, D.C. :International Monetary Fund,2009.1 online resource (20 p.)IMF Working Papers"March 2009."1-4519-1636-1 Includes bibliographical references.Contents; I. Introduction; II. Overview of Credit Market Developments; Figures; 1. Required Bank Reserves and Official Reserves, 2000-07; 2. Treasury Bill Rate, 2000-07; 3. Private Sector Credit in Percent of GDP, 2000-07; 4. Structure of Banking System Assets; 5. Credit to the Economy (2002=100); 6. Evolution of Real Estate Stock Market Index; III. Literature Review; IV. Estimation Strategy; V. Estimation Results; VI. Concluding Remarks; Appendixes; I. Unit Root Tests; II. Cointegration Tests; ReferencesIn this paper we use a disequilibrium framework common in the “credit crunch” literature, first to examine whether the slow credit growth in Morocco during the rapid expansion of liquidity in the first half of the decade can be attributed to credit rationing, and second to investigate the role of asset price increases in the recent acceleration of credit growth. Our results do not support the credit rationing hypothesis in the first half of the decade. They do however, show that the recent increase in real estate prices stimulated credit supply and demand, with a stronger effect on the latter.IMF Working Papers; Working Paper ;No. 2009/053Credit controlMoroccoMathematical modelsCreditMoroccoMathematical modelsBanks and BankingimfFinance: GeneralimfMoney and Monetary PolicyimfReal EstateimfMacroeconomicsimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinancial Institutions and Services: GeneralimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralimfGeneral Financial Markets: General (includes Measurement and Data)imfInterest Rates: Determination, Term Structure, and EffectsimfPrice LevelimfInflationimfDeflationimfMonetary economicsimfFinanceimfProperty & real estateimfCreditimfReal estate pricesimfBank creditimfStock marketsimfReal interest ratesimfMoneyimfPricesimfFinancial marketsimfAsset pricesimfHousingimfStock exchangesimfInterest ratesimfMoroccoimfCredit controlMathematical models.CreditMathematical models.Banks and BankingFinance: GeneralMoney and Monetary PolicyReal EstateMacroeconomicsBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinancial Institutions and Services: GeneralMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralGeneral Financial Markets: General (includes Measurement and Data)Interest Rates: Determination, Term Structure, and EffectsPrice LevelInflationDeflationMonetary economicsFinanceProperty & real estateCreditReal estate pricesBank creditStock marketsReal interest ratesMoneyPricesFinancial marketsAsset pricesHousingStock exchangesInterest rates338.9669Oulidi Nada1491227Allain Laurence1493449International Monetary Fund.Middle East and Central Asia Dept.International Monetary Fund.Monetary and Capital Markets Dept.DcWaIMFBOOK9910788339303321Credit Market in Morocco3716444UNINA