Choudhary, Ali; Ali, Amjad; Hussain, Shah; Gabriel, Vasco J - eSocialSciences - 2012
This paper investigates the role of credit market frictions in the transmission of monetary shocks in Pakistan. First …, using macro data, it is shown that banking spreads are countercyclical, even it is controlled for credit risk, monetary … government as an active participant in the private credit market. Then, using a rich dataset on corporate loan agreement for the …