LEADER 05658oam 22013814 450 001 9910788339303321 005 20230721045649.0 010 $a1-4623-9613-5 010 $a1-4527-5310-5 010 $a9786612842757 010 $a1-282-84275-7 010 $a1-4518-7201-1 035 $a(CKB)3170000000055223 035 $a(EBL)1608223 035 $a(SSID)ssj0000940103 035 $a(PQKBManifestationID)11483771 035 $a(PQKBTitleCode)TC0000940103 035 $a(PQKBWorkID)10948460 035 $a(PQKB)11763016 035 $a(OCoLC)650275282 035 $a(MiAaPQ)EBC1608223 035 $a(IMF)WPIEE2009053 035 $a(EXLCZ)993170000000055223 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCredit Market in Morocco : $eA Disequilibrium Approach /$fNada Oulidi, Laurence Allain 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (20 p.) 225 1 $aIMF Working Papers 300 $a"March 2009." 311 $a1-4519-1636-1 320 $aIncludes bibliographical references. 327 $aContents; 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; References 330 3 $aIn this paper we use a disequilibrium framework common in the ?credit crunch? literature, first to examine whether the slow credit growth in Morocco during the rapid expansion of liquidity in the first half of the decade can be attributed to credit rationing, and second to investigate the role of asset price increases in the recent acceleration of credit growth. Our results do not support the credit rationing hypothesis in the first half of the decade. They do however, show that the recent increase in real estate prices stimulated credit supply and demand, with a stronger effect on the latter. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/053 606 $aCredit control$zMorocco$xMathematical models 606 $aCredit$zMorocco$xMathematical models 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aReal Estate$2imf 606 $aMacroeconomics$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aReal Estate Markets, Spatial Production Analysis, and Firm Location: General$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aPrice Level$2imf 606 $aInflation$2imf 606 $aDeflation$2imf 606 $aMonetary economics$2imf 606 $aFinance$2imf 606 $aProperty & real estate$2imf 606 $aCredit$2imf 606 $aReal estate prices$2imf 606 $aBank credit$2imf 606 $aStock markets$2imf 606 $aReal interest rates$2imf 606 $aMoney$2imf 606 $aPrices$2imf 606 $aFinancial markets$2imf 606 $aAsset prices$2imf 606 $aHousing$2imf 606 $aStock exchanges$2imf 606 $aInterest rates$2imf 607 $aMorocco$2imf 615 0$aCredit control$xMathematical models. 615 0$aCredit$xMathematical models. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aReal Estate 615 7$aMacroeconomics 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancial Institutions and Services: General 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aReal Estate Markets, Spatial Production Analysis, and Firm Location: General 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aPrice Level 615 7$aInflation 615 7$aDeflation 615 7$aMonetary economics 615 7$aFinance 615 7$aProperty & real estate 615 7$aCredit 615 7$aReal estate prices 615 7$aBank credit 615 7$aStock markets 615 7$aReal interest rates 615 7$aMoney 615 7$aPrices 615 7$aFinancial markets 615 7$aAsset prices 615 7$aHousing 615 7$aStock exchanges 615 7$aInterest rates 676 $a338.9669 700 $aOulidi$b Nada$01491227 701 $aAllain$b Laurence$01493449 712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept. 712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788339303321 996 $aCredit Market in Morocco$93716444 997 $aUNINA