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Abstract

Credit distribution has developed rapidly in the ASEAN region and it is largely dominated by the banking sector compared to other financial institutions. This study explores the effects of various changes to the GDP growth regime, firm size, and monetary policy. The objects of this research are commercial banks in ASEAN-5 from year 2010 to 2019. This study utilises the threshold regression method and a single proxy to measure market power. Results of this study found that monetary policy and market forces affect productive credit. Changes in impact that occur are mostly due to different behavior between banks in response to different regulations. In addition, the response of economic actors differs on different levels of GDP growth and monetary policies.

Bahasa Abstract

Penyaluran kredit telah berkembang pesat di kawasan ASEAN dan peran perbankan masih mendominasi dibandingkan dengan lembaga keuangan lainnya. Penelitian ini mengeksplorasi efek dari berbagai perubahan rezim pertumbuhan PDB, ukuran perusahaan, dan kebijakan moneter. Objek penelitian adalah bank-bank komersial di ASEAN-5 dari tahun 2010 hingga 2019. Penelitian ini menggunakan metode regresi ambang batas dan juga proksi tunggal untuk mengukur kekuatan pasar. Hasil penelitian menemukan bahwa kebijakan moneter dan kekuatan pasar memengaruhi kredit produktif. Perubahan dampak yang terjadi disebabkan perilaku bank yang tidak sama untuk peraturan yang berbeda. Selain itu, respons pelaku ekonomi berbeda pada tingkat pertumbuhan PDB dan kebijakan moneter tertentu.

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