05180oam 22012494 450 991078852680332120230829002227.01-4623-5889-61-4527-5822-01-282-54214-11-4519-0888-19786613822093(CKB)3360000000443246(EBL)3014420(SSID)ssj0000941496(PQKBManifestationID)11586506(PQKBTitleCode)TC0000941496(PQKBWorkID)10964419(PQKB)11542641(OCoLC)698585722(MiAaPQ)EBC3014420(IMF)WPIEE2006094(EXLCZ)99336000000044324620020129d2006 uf 0engur|n|---|||||txtccrInterest Rate Determination in Lebanon /Tushar Poddar, Mangal Goswami, Juan Sole, Victor Echévarria IcazaWashington, D.C. :International Monetary Fund,2006.1 online resource (24 p.)IMF Working Papers"April 2006."1-4518-6354-3 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL BACKGROUND""; ""III. EMPIRICAL STRATEGY""; ""IV. TRENDS IN INTEREST RATES""; ""V. RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSIONS""; ""REFERENCES""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.IMF Working Papers; Working Paper ;No. 2006/094Interest ratesLebanonEconometric modelsCountry riskLebanonEconometric modelsBanks and BankingimfMoney and Monetary PolicyimfInterest Rates: Determination, Term Structure, and EffectsimfMonetary PolicyimfFinancing PolicyimfFinancial Risk and Risk ManagementimfCapital and Ownership StructureimfValue of FirmsimfGoodwillimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfFinanceimfBankingimfFinancial services law & regulationimfMonetary economicsimfDeposit ratesimfInternational reservesimfExchange rate riskimfInterbank ratesimfMonetary baseimfFinancial servicesimfCentral banksimfFinancial regulation and supervisionimfMoneyimfInterest ratesimfForeign exchange reservesimfFinancial risk managementimfMoney supplyimfUnited StatesimfInterest ratesEconometric models.Country riskEconometric models.Banks and BankingMoney and Monetary PolicyInterest Rates: Determination, Term Structure, and EffectsMonetary PolicyFinancing PolicyFinancial Risk and Risk ManagementCapital and Ownership StructureValue of FirmsGoodwillMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralFinanceBankingFinancial services law & regulationMonetary economicsDeposit ratesInternational reservesExchange rate riskInterbank ratesMonetary baseFinancial servicesCentral banksFinancial regulation and supervisionMoneyInterest ratesForeign exchange reservesFinancial risk managementMoney supplyPoddar Tushar1462143Goswami Mangal1462144Sole Juan1159164Icaza Victor Echévarria1462145DcWaIMFBOOK9910788526803321Interest Rate Determination in Lebanon3670987UNINA