Assessing the impact of credit de-dollarization measures in Peru
Rocio Gondo Mori,
Fernando Pérez Forero () and
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Erick Oré: Banco Central de Reserva del Perú
No 2018-009, Working Papers from Banco Central de Reserva del Perú
This paper assesses the impact of de-dollarization measures implemented by the Central Reserve Bank of Peru between the years 2013 and 2016. Our results show that, despite an already slight downward trend in credit dollarization indicators before their implementation, the pace of de-dollarization increased after the adoption of the mentioned policy measures, especially after the announcement in the beginning of 2015. In contrast to a generalized impact of measures in 2015 onwards on all market segments, de-dollarization measures in 2013 affected mainly certain segments by firm size such as corporate and small firms. In addition, an heterogeneous impact is identified by loan size, where banks prefered to substitute larger loans from foreign to domestic currency.
Keywords: credit dollarization; macroprudential policies; credit register data (search for similar items in EconPapers)
JEL-codes: E58 G21 G28 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:rbp:wpaper:2018-009
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