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|c 5.00 USD
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|z 9781451954364
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Scholnick, Barry.
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|a Testing a Disequilibrium Model of Lending Rate Determination :
|b The Case of Malaysia /
|c Barry Scholnick.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1991.
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|a 1 online resource (43 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This study examines whether lending rates cleared the market for loans in Malaysia after interest rate liberalization. It is based on a theoretical model in which adverse selection and marginal cost pricing are brought together by the use of a quadratic loss function in the error correction format. This allows for the use of the cointegration methodology. Long-run tests support the model proposed in the paper, while rejecting part of the financial liberalization model. From the short-run results it is concluded that there is a large lag before lending rates respond to exogenous shocks, thus confirming that they do not fully clear the market for loans.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1991/084
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1991/084/001.1991.issue-084-en.xml
|z IMF e-Library
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