LEADER 05200oam 22012614 450 001 9910809288103321 005 20240410162601.0 010 $a1-4623-5889-6 010 $a1-4527-5822-0 010 $a1-282-54214-1 010 $a1-4519-0888-1 010 $a9786613822093 035 $a(CKB)3360000000443246 035 $a(EBL)3014420 035 $a(SSID)ssj0000941496 035 $a(PQKBManifestationID)11586506 035 $a(PQKBTitleCode)TC0000941496 035 $a(PQKBWorkID)10964419 035 $a(PQKB)11542641 035 $a(OCoLC)698585722 035 $a(MiAaPQ)EBC3014420 035 $a(IMF)WPIEE2006094 035 $a(EXLCZ)993360000000443246 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aInterest Rate Determination in Lebanon /$fTushar Poddar, Mangal Goswami, Juan Sole, Victor Echévarria Icaza 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (24 p.) 225 1 $aIMF Working Papers 300 $a"April 2006." 311 $a1-4518-6354-3 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL BACKGROUND""; ""III. EMPIRICAL STRATEGY""; ""IV. TRENDS IN INTEREST RATES""; ""V. RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSIONS""; ""REFERENCES"" 330 3 $aThis paper seeks to understand how interest rates are formed in Lebanon, by focusing on the pass-through from benchmark rates, prevailing liquidity conditions, and the main characteristics of the Lebanese economy, notably its open capital account, fixed exchange rate, high government borrowing requirement, large public debt, and high degree of deposit dollarization. We find that international interest rates are an important element in the determination of interest rates in Lebanon. In particular, the pass-through of global benchmark rates to interest rates on sovereign bonds is about 70 percent. The less-than-complete pass-through could be attributed to a home-bias effect reflecting a relatively stable and dedicated investor base. The study also shows that interest rates in Lebanon are affected by liquidity conditions as well as perceived sovereign risk. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/094 606 $aInterest rates$zLebanon$xEconometric models 606 $aCountry risk$zLebanon$xEconometric models 606 $aBanks and Banking$2imf 606 $aMoney and Monetary Policy$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aMonetary Policy$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aFinancial services law & regulation$2imf 606 $aMonetary economics$2imf 606 $aDeposit rates$2imf 606 $aInternational reserves$2imf 606 $aExchange rate risk$2imf 606 $aInterbank rates$2imf 606 $aMonetary base$2imf 606 $aFinancial services$2imf 606 $aCentral banks$2imf 606 $aFinancial regulation and supervision$2imf 606 $aMoney$2imf 606 $aInterest rates$2imf 606 $aForeign exchange reserves$2imf 606 $aFinancial risk management$2imf 606 $aMoney supply$2imf 607 $aUnited States$2imf 615 0$aInterest rates$xEconometric models. 615 0$aCountry risk$xEconometric models. 615 7$aBanks and Banking 615 7$aMoney and Monetary Policy 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aMonetary Policy 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aFinance 615 7$aBanking 615 7$aFinancial services law & regulation 615 7$aMonetary economics 615 7$aDeposit rates 615 7$aInternational reserves 615 7$aExchange rate risk 615 7$aInterbank rates 615 7$aMonetary base 615 7$aFinancial services 615 7$aCentral banks 615 7$aFinancial regulation and supervision 615 7$aMoney 615 7$aInterest rates 615 7$aForeign exchange reserves 615 7$aFinancial risk management 615 7$aMoney supply 700 $aPoddar$b Tushar$01630727 701 $aGoswami$b Mangal$01630728 701 $aSole$b Juan$01159164 701 $aIcaza$b Victor Echévarria$01630729 801 0$bDcWaIMF 906 $aBOOK 912 $a9910809288103321 996 $aInterest Rate Determination in Lebanon$93969189 997 $aUNINA