LEADER 05399oam 22013454 450 001 9910961258703321 005 20250426110941.0 010 $a9786613822093 010 $a9781462358892 010 $a1462358896 010 $a9781452758220 010 $a1452758220 010 $a9781282542143 010 $a1282542141 010 $a9781451908886 010 $a1451908881 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(IMF)WPIEE2006094 035 $a(MiAaPQ)EBC3014420 035 $a(IMF)WPIEA2006094 035 $aWPIEA2006094 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 $a"April 2006." 311 08$a9781451863543 311 08$a1451863543 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 $aBanking$2imf 606 $aBanks and Banking$2imf 606 $aCapital and Ownership Structure$2imf 606 $aCentral banks$2imf 606 $aDeposit rates$2imf 606 $aExchange rate risk$2imf 606 $aFinance$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aFinancial risk management$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinancial services$2imf 606 $aFinancing Policy$2imf 606 $aForeign exchange reserves$2imf 606 $aGoodwill$2imf 606 $aInterbank rates$2imf 606 $aInterest rates$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aInternational reserves$2imf 606 $aMonetary base$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney supply$2imf 606 $aMoney$2imf 606 $aValue of Firms$2imf 607 $aUnited States$2imf 615 0$aInterest rates$xEconometric models. 615 0$aCountry risk$xEconometric models. 615 7$aBanking 615 7$aBanks and Banking 615 7$aCapital and Ownership Structure 615 7$aCentral banks 615 7$aDeposit rates 615 7$aExchange rate risk 615 7$aFinance 615 7$aFinancial regulation and supervision 615 7$aFinancial Risk and Risk Management 615 7$aFinancial risk management 615 7$aFinancial services law & regulation 615 7$aFinancial services 615 7$aFinancing Policy 615 7$aForeign exchange reserves 615 7$aGoodwill 615 7$aInterbank rates 615 7$aInterest rates 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aInternational reserves 615 7$aMonetary base 615 7$aMonetary economics 615 7$aMonetary Policy 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMoney and Monetary Policy 615 7$aMoney supply 615 7$aMoney 615 7$aValue of Firms 700 $aPoddar$b Tushar$01815755 701 $aGoswami$b Mangal$01815731 701 $aIcaza$b Victor Echévarria$01815756 701 $aSole$b Juan$01159164 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961258703321 996 $aInterest Rate Determination in Lebanon$94371263 997 $aUNINA