Challenges in the Era of Globalization - iaabd

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Proceedings of the 12th Annual Conference © 2011 IAABD Unexpectedly, the results indicate that real gross domestic product has a negative coefficient and is not significant in all regressions. However, this may suggests that bank lenders’ expectations do not depend on the current phase of business activities, which confirms findings of Danilowska (2008). With regards to HHI, the results indicate that the banking industry has a positive and significant effect on bank lending behaviour. By implication, competitive banking environment is likely to enhance bank lending behaviour in Ghana. This confirms a study by (Beck et al. 2004). ConclusionsThe study observes a relationship between bank lending behaviour and a set of macroeconomic indicators, industry and bank level characteristics. Bigger banks seem to be in a better position to lend more than otherwise. This might be due to enough resources they have to cushion lending. Similarly, high level of bank capital is found to support much higher volumes of bank lending. A strong and resilient financial system is necessary for economic growth. It restores confidence and determines the elasticity of the system to shock as well as enhancing the credibility of the financial institutions in the system. Therefore, the Bank of Ghana recapitalization policy must be encouraged so as to help the economy prepare against any disastrous macroeconomic shocks. It will also enable wellcapitalized financial institutions respond to increased demand for credit. Moreover, the central bank must adopt a pragmatic approach that would ensure the stability of the local currency against the foreign currencies to enhance bank lending decision in Ghana. However, in as much as tight monetary policy would be considered favorable in certain situations, it has negative implications on bank lending decision. Thus, as a policy guide, the central bank should critically weight all the outcomes and the trade-off of tight monetary policy so as not to dampen the lending decision of banks to firms since this would have dire consequences on economic development of this nation. Again, competitive banking industry structure enhances bank lending decision. This might be due to associated low lending rate that characterizes competitive banking systems. Reference Alfaro, R., Helmut F., Carlos G., and Alejandro J., (2003). Bank lending channel and the monetary transmission mechanism: The case of Chile, Central Bank of Chile Working Papers No. 223. Arellano, M., and Bond, B., (1991). Some tests of specification for panel data Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58, 277–297. Arellano, M., and Bover, O., (1995). Another look at the instrumental variable estimation of errorcomponents models. Journal of Econometrics, 68, 28–52. Bank of Ghana (2006). Annual report Beck, T., Demirguc-Kunt A. and Maksimovic V. (2004). Bank competition and access to finance: international evidence. Journal of Money, Credit, and Banking, 36, pp. 627-648. Berger A.N and Udell G.F. (2006). A more complete conceptual framework for SME finance. Journal of Banking and Finance, forthcoming. Berger, A.N. and Udell, G.F. (1992). Some evidence on the empirical significance of credit rationing. The Journal of Political Economy, Vol. 100, No. 5, 1047-1077. Blinder, A.S. and Stiglitz, J.E. (1983). Money, credit constraints, and economic activity. American Economic Review Papers and Proceedings, Vol. 73 (May), 297-302. Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143. Bond, S., Hoeffler, A., and Temple, J. (2001). GMM estimation of empirical growth models. CEPR Discussion Paper No. 3048. Boot, A. W. A. and Thakor, A. V. (2000). Can relationship banking survive competition? The Journal of Finance, Vol. LV, No. 2. Borio, E. and Fritz, W. (1995). The response of short-term bank lending rates to policy rates: A crosscountry perspective. BIS Working Paper No. 27. 32
Challenges in the Era of Globalization Edited by Emmanuel Obuah Danilowska A. (2008). Macroeconomic determinants of agricultural preferential investment credit in Poland. Warsaw University of Life Science, Department of Economics and Economic Policy, Warsaw, Ploand. Dell’Ariccia, G. and Marquez R., (2004). Information and bank credit allocation. Journal of Financial Economics, Vol. 72, pp. 185-214. Dell’Ariccia, G., and Marquez R., (2006). Lending booms and lending standards. Journal of Finance, Vol. 61, No. 5, pp. 2511–46. Diamond, D. and. Rajan R., (1999). Liquidity risk, liquidity creation and financial fragility. NBER Working Paper No. 7430 Diamond D., and Rajan R., (1998). Liquidity risk, liquidity creation and financial fragility: A Theory of Banking University of Chicago working paper. Ehrmann M., Gambacorta L., Martinez P.J., Sevestre P. and Worms A. (2003). Financial systems and the role of banks in monetary policy transmission in the Euro Area. In Angeloni I., Kashyap A. and Mojon B., Monetary Policy Transmission in the Euro Area, Cambridge, Cambridge University Press. Gambacorta L, Mistrulli P.E (2004). Bank capital and lending behaviour: empirical evidence for Italy. J Finan Intermed 13(4):436–457 Kashyap, A., Rajan R., and Stein J. (2000). Banks as liquidity providers: An explanation for the coexistence of lending and deposit taking. Quarterly Journal of Economics, 113, pp. 733-771. Kishan R. P. and Opiela T. P. (2000). Bank size, bank capital and the bank lending channel. Journal of Money, Credit and Banking, Vol. 32, No. 1, pp. 121-41. Lindgren, C-J, Gillian G, and Matthew I.S, (1996). Bank soundness and macroeconomic policy (Washington: International Monetary Fund). Peek, J., Rosengren, E., (1992). Crunching the recovery: Bank capital and the role of bank credit. In: Real Estate and the Credit Crunch. Federal Reserve Bank of Boston. Peek, J. and Rosengren E., (1995). The capital crunch: Neither a borrower nor a lender be. Journal of Money, Credit, and Banking, v.27, no.3, pp.625-638. Steim J. C. (2000). Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms NBER Working Paper No. 7705 May. Suwanaporn C., (2003). Determinants of bank lending in Thailand, an empirical examination for the Years 1992 to 1996. Development Economics and Policy. Bd.33, Peter Lang Frankfurt. Uchida, H., Udell G. F. and Watanabe W. (2007). Bank Size and Lending Relationships in Japan. National Bureau of Economic Research Working Paper Series No.13005. Van den Heuvel S..J. (2001). The bank capital channel of monetary policy. University of Pennsylvania, mimeo. Vazakidis, A. and Adamopoulos, A. (2009). Credit market development and economic growth, American Journal of Economics and Business Administration, 1(1), pp.34-40. World Bank, (2008). Doing business in Ghana country profile for Ghana. World Bank. Zukarnain Z., (2008). The level of economic development and the impact of financial structure on economic growth: Evidence from dynamic panel data analysis. Asian Academy of Management Journal of Accounting and Finance, (AAMJAF) vol. 3, No. 2,21-42. 33
Page 1 and 2: Challenges in the Era of Globalizat
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Abstract Challenges of Oil Revenue
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Challenges in the Era of Globalizat
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Abstract Land Based Sources of Poll
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Abstract On the Mitigation of Rever
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Assessment of pollutants in nigeria
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Figure 1: Lagos off shore survey po
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Academic Pry School 3 3 0 Backgroun
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Abstract Challenges in the Era of G
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Table: Model Fitness Regression Sta
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Conclusion Challenges in the Era of
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37. Provision of sound education fo
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The cost structure Challenges in th
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Empirical Analysis Challenges in th
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Variable Coefficient Std. Error t-S
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Abstract The Changing Requirements
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The Model, Data and Variable Defini
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Track 8: Gender and Economic Develo
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Empirical results Challenges in the
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Abstract Gender, poverty and sustai
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Figure 1.1: Spread of directorships
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Theoretical Framework Challenges in
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Single 18.1 Masters and above 35.3
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Source: Field survey, 2010 Table 3:
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Track 9: Global Studies and Politic
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Conceptual Definitions Challenges i
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Conclusions and Implications Challe
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Abstract Exploring Organisational R
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district hospitals: Evidence from N
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Defining the Organisational Culture
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Table 1: A Summary of Operating Ban
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Discussion and Conclusion Challenge
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Abstract What does Globalization me
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7. I see globalization as providing
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Research Methods approach Challenge
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Statement of the Problem Challenges
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Convenient location of banks Challe
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Figure 1.Framework for Bank selecti
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Banks in Ghana Challenges in the Er
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References: Challenges in the Era o
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Figure 5: Causal loop diagram inclu
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The study seeks to: • examine typ
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Figure 2: Customer Perception of MT
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Relationship Commitment Total 1264.
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Factor Item Loading Imaginative 0.4
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Figure 1: Components of Data Analys
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Abstract Marketing Nigerian medicin
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Conclusion Dissatisfied 6 3.4 3.6 7
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Abstract Customer satisfaction with
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Methodology Challenges in the Era o
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Discussion Challenges in the Era of
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Postgraduate 19 Internet experience
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Average daily Internet hours z P-va
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Figure1.1Inflation and Indexation R
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Football Spectatorship Challenges i
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