The Role of Financial Development in Marketing of Bank Credit Services within the Framework of Monetary Policies in Iran
Subject Areas : Jounal of Marketing Management
Bahram Hatami
1
,
Hosein Sharifi Renani
2
*
,
saeed daeekarimzade
3
1 - Ph.D. Student Department of Economics, Isf. C., Islamic Azad University, Isfahan, Iran
2 - Department of Economics, Faculty of Governance, Isf. C., Islamic Azad University, Isfahan, Iran
3 - Department of Economics, Faculty of Governance, Isf. C., Islamic Azad University, Isfahan, Iran
Keywords: Financial Development, Marketing of Bank Credit Services, Monetary Policies, Iran.,
Abstract :
Introduction: Marketing of bank credit services is considered one of the key components in the performance of the banking system and is influenced by various factors such as monetary policies and the level of financial development. In Iran's economy, due to the unique monetary and banking structure, examining the impact mechanism of these factors is of particular importance. This study is designed and conducted to analyze the role of financial development in enhancing the marketing of bank credit services within the framework of the country's monetary policies.
Methodology: This applied and analytical research uses seasonal time-series data from the Iranian economy during the period 2006–2023 (1385–1402 in the Iranian calendar), comprising 72 observations. Quantile regression is employed to analyze the effects of macroeconomic variables on the index of credit service marketing.
Findings: The results of the quantile regression model showed that the effect of monetary policy (MP) on credit marketing is not statistically significant in the lower quantiles (0.1 and 0.2), but gradually becomes significant and positive in the middle and higher quantiles, especially at the 0.7 and 0.9 quantiles, indicating a stronger impact of monetary policy at higher levels of banking performance. Financial development (FD) has a positive and significant effect across all quantiles, particularly at the 0.6 and 0.9 quantiles. Furthermore, the interaction effect of monetary policy and financial development (MP×FD) is significant in the middle and higher quantiles, peaking at the 0.8 quantile. Control variables such as inflation rate and economic growth also show significant effects in some quantiles. These findings suggest that financial development acts as a facilitator and moderator in the transmission of monetary policy effects to credit services marketing.
Conclusion: This study demonstrated that financial development not only directly affects the marketing of bank credit services but also enhances the effectiveness of monetary policies.
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