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|z 9781513518862
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|a 1018-5941
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|a Bounader, Lahcen.
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|a Firm-Level Data and Monetary Policy :
|b The Case of a Middle Income Country /
|c Lahcen Bounader, Mohamed Doukali.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2019.
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|a 1 online resource (34 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 We test the existence of the balance sheet channel of monetary policy in a middle-income country. Firm-level data scarcity and quality, in such a context, make the identification of this channel a steep challenge. To circumvent this challenge, we use panel instrumental variables estimation with measurement error to analyze the financial statements of 58 500 Moroccan firms over the period 2010-2016. Our analysis confirms the existence of this channel. It shows that monetary policy has a significant impact on small and medium enterprises' access to banks' financing, and that firm-specific variables are key determinants of firms' financing decisions.
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|a Mode of access: Internet
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|a Doukali, Mohamed.
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|a IMF Working Papers; Working Paper ;
|v No. 2019/239
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2019/239/001.2019.issue-239-en.xml
|z IMF e-Library
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