Central Bank Monetary Policy And Its Role In The Emergence Of Banking Crises In The Iranian Economy Within Modified Money Market Pressure Index

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MAHMOUDINIA DAVOUD

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Journal: Journal of Economic Research and Policies Year:2019 | Volume:27 | Issue:89 Page(s): 61-96

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Title

Central Bank Monetary Policy And Its Role In The Emergence Of Banking Crises In The Iranian Economy Within Modified Money Market Pressure Index

Author(s)

MAHMOUDINIA DAVOUD | Issue Writer Certificate

Keywords

Banking CrisesQ1

Monetary PoliciesQ2

Modified Money Market Pressure IndexQ1

Iranian EconomyQ2

Abstract

In recent years, the banking crisis has increased the attention of researchers toward the banking system reform and solutions to it. The banking crisis can be accompanied by a banking run, banking panic, a rise in the Non-performing loan in banking system, fluctuations in cash and non-cash assets, and so on. On the other hand, the central bank's monetary policy has also played an important role in the emergence of banking crisis by using direct and indirect tools as well as the free access of banks to credit lines and overdrafts from the central bank. In this study, firstly, bank crises in the Iranian Economy were identified in the framework of the adjusted index of money market pressure during the period 1973 to 2016 using seasonal data and then the probability of a banking crisis was investigated using the Markov model. The experimental results of this research show that Iran's economy experienced banking crisis in some periods, including early 1979, late-1990, between 1994 and 1996, as well as between 2013 and 2015. Statistical analysis showed that the Central Bank's expansionary monetary policy has played an important role in the emergence of banking crisis and liquidity movements towards immature activities. Hence, moving towards alternative monetary instruments such as the Islamic debt market or the interbank market can play an important role in the effective transfer of liquidity to productive sectors and reduce the government's dominance over the banking system.

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APA: Copy

MAHMOUDINIA, DAVOUD. (2019). Central Bank Monetary Policy And Its Role In The Emergence Of Banking Crises In The Iranian Economy Within Modified Money Market Pressure Index. JOURNAL OF ECONOMIC RESEARCH AND POLICIES, 27(89 ), 61-96. SID. https://sid.ir/paper/360063/en

Vancouver: Copy

MAHMOUDINIA DAVOUD. Central Bank Monetary Policy And Its Role In The Emergence Of Banking Crises In The Iranian Economy Within Modified Money Market Pressure Index. JOURNAL OF ECONOMIC RESEARCH AND POLICIES[Internet]. 2019;27(89 ):61-96. Available from: https://sid.ir/paper/360063/en

IEEE: Copy

DAVOUD MAHMOUDINIA, “Central Bank Monetary Policy And Its Role In The Emergence Of Banking Crises In The Iranian Economy Within Modified Money Market Pressure Index,” JOURNAL OF ECONOMIC RESEARCH AND POLICIES, vol. 27, no. 89 , pp. 61–96, 2019, [Online]. Available: https://sid.ir/paper/360063/en

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