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040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_972270 _aKeller, Lorena
245	1	0	_aArbitraging covered interest rate parity deviations and bank lending _c Lorena Keller
504			_aBibliografía.
520			_aI propose and test a new channel through which covered interest rate parity (CIP) deviations can affect bank lending in emerging economies. I argue that when CIP deviations exist, banks attempt to arbitrage them. To do so, banks must borrow in a particular currency. When this currency is scarce, bank lending in the currency required to arbitrage decreases, while they use this currency in their arbitrage activities. I test this channel by exploiting differences in the abilities of Peruvian banks to arbitrage CIP deviations. I find evidence that supports the proposed channel.
650		4	_947504 _aINTERESES BANCARIOS
650		4	_948108 _aPRESTAMOS
650		4	_947936 _aPAISES EN DESARROLLO
650		4	_948564 _aTIPO DE CAMBIO
773	0		_9172579 _oOP 234/2024/9 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _g v. 114, n. 9, September 2024, p. 2633-2667.
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