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Interest rate determination in Lebanon / / prepared by Tushar Poddar ... [et al.]



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Autore: Poddar Tushar Visualizza persona
Titolo: Interest rate determination in Lebanon / / prepared by Tushar Poddar ... [et al.] Visualizza cluster
Pubblicazione: [Washington, D.C.], : International Monetary Fund, IMF Institute, 2006
Edizione: 1st ed.
Descrizione fisica: 1 online resource (24 p.)
Soggetto topico: Interest rates - Lebanon - Econometric models
Country risk - Lebanon - Econometric models
Note generali: "April 2006."
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. THEORETICAL BACKGROUND""; ""III. EMPIRICAL STRATEGY""; ""IV. TRENDS IN INTEREST RATES""; ""V. RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSIONS""; ""REFERENCES""
Sommario/riassunto: 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.
Titolo autorizzato: Interest rate determination in Lebanon  Visualizza cluster
ISBN: 1-4623-5889-6
1-4527-5822-0
1-282-54214-1
1-4519-0888-1
9786613822093
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910809288103321
Lo trovi qui: Univ. Federico II
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Serie: IMF working paper ; ; WP/06/94.