05877oam 22014774 450 991096008250332120250426110710.0978661284275797814623961391462396135978145275310214527531059781282842755128284275797814518720191451872011(CKB)3170000000055223(EBL)1608223(SSID)ssj0000940103(PQKBManifestationID)11483771(PQKBTitleCode)TC0000940103(PQKBWorkID)10948460(PQKB)11763016(OCoLC)650275282(IMF)WPIEE2009053(MiAaPQ)EBC1608223(IMF)WPIEA2009053WPIEA2009053(EXLCZ)99317000000005522320020129d2009 uf 0engur|n|---|||||txtccrCredit Market in Morocco : A Disequilibrium Approach /Nada Oulidi, Laurence Allain1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (20 p.)IMF Working Papers"March 2009."9781451916362 1451916361 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 modelsAsset pricesimfBank creditimfBanks and BankingimfBanksimfCreditimfDeflationimfDepository InstitutionsimfFinanceimfFinance: GeneralimfFinancial Institutions and Services: GeneralimfFinancial marketsimfGeneral Financial Markets: General (includes Measurement and Data)imfHousingimfInflationimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfMacroeconomicsimfMicro Finance InstitutionsimfMonetary economicsimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfMoney and Monetary PolicyimfMoneyimfMortgagesimfPrice LevelimfPricesimfProperty & real estateimfReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralimfReal estate pricesimfReal EstateimfReal interest ratesimfStock exchangesimfStock marketsimfMoroccoimfCredit controlMathematical models.CreditMathematical models.Asset pricesBank creditBanks and BankingBanksCreditDeflationDepository InstitutionsFinanceFinance: GeneralFinancial Institutions and Services: GeneralFinancial marketsGeneral Financial Markets: General (includes Measurement and Data)HousingInflationInterest ratesInterest Rates: Determination, Term Structure, and EffectsMacroeconomicsMicro Finance InstitutionsMonetary economicsMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralMoney and Monetary PolicyMoneyMortgagesPrice LevelPricesProperty & real estateReal Estate Markets, Spatial Production Analysis, and Firm Location: GeneralReal estate pricesReal EstateReal interest ratesStock exchangesStock markets338.9669Oulidi Nada1816022Allain Laurence1816062International Monetary Fund.Middle East and Central Asia Dept.International Monetary Fund.Monetary and Capital Markets Dept.DcWaIMFBOOK9910960082503321Credit Market in Morocco4371706UNINA