TY - GEN AB - In this work we study the impact of FX interventions on Credit growth in Peru. Using Panel data at the firm-bank level from the Peruvian Credit Registry we find that purchases of dollars by the Central Bank are associated with reductions on the stock of credit held by Medium, Big and Corporate Firms in the Peruvian economy. We also found that the impact is stronger for firms with a higher level of debt dollarization. These results suggest that FX interventions can be seen as an additional tool for Financial stability, especially in times of large inflows of capital. AU - Ceron, Marcos AU - Nivin, Rafael AU - Yamunaque, Diego CY - Geneva DA - 2023 DA - 2023 DO - 10.71609/iheid-0p5s-6002 DO - doi ID - 301722 KW - Finance and Investment L1 - https://repository.graduateinstitute.ch/record/301722/files/HEIDWP11-2023.pdf L2 - https://repository.graduateinstitute.ch/record/301722/files/HEIDWP11-2023.pdf L4 - https://repository.graduateinstitute.ch/record/301722/files/HEIDWP11-2023.pdf LK - https://repository.graduateinstitute.ch/record/301722/files/HEIDWP11-2023.pdf N2 - In this work we study the impact of FX interventions on Credit growth in Peru. Using Panel data at the firm-bank level from the Peruvian Credit Registry we find that purchases of dollars by the Central Bank are associated with reductions on the stock of credit held by Medium, Big and Corporate Firms in the Peruvian economy. We also found that the impact is stronger for firms with a higher level of debt dollarization. These results suggest that FX interventions can be seen as an additional tool for Financial stability, especially in times of large inflows of capital. PB - Graduate Institute of International and Development Studies, International Economics Department PP - Geneva PY - 2023 PY - 2023 T1 - FX intervention and domestic credit in a partially dollarized economyevidence using microdata from Peru TI - FX intervention and domestic credit in a partially dollarized economyevidence using microdata from Peru UR - https://repository.graduateinstitute.ch/record/301722/files/HEIDWP11-2023.pdf Y1 - 2023 ER -