Abstract This study measures liquidity creation within a sample of 153 banks operating in 12 Middle Eastern and North African (MENA) countries from 2008 to 2017. We found that these banks created a total of $461.32 billion in liquidity in 2017, approximately 1.51 times the total liquidity created in 2008, mainly driven by commercial banks in Gulf Cooperation Council (GCC) countries. We also conducted an econometric analysis to investigate the internal and external factors affecting bank liquidity creation, applying a Fixed Effects model and the new Method of Moments Quantile Regression (MMQR). The results show that, among bank-specific factors, bank liquidity creation in MENA countries is related to capital, size, bank risk, deposits and profitability whilst market concentration does not appear to play a significant role. Regarding macroeconomic factors, inflation, unemployment, savings and monetary policy explain the variations in bank liquidity creation.

中文翻译：

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银行流动性创造的特定银行和宏观经济决定因素：来自中东和北非国家的证据

摘要 本研究测量了 2008 年至 2017 年在 12 个中东和北非 (MENA) 国家运营的 153 家银行样本中的流动性创造情况。我们发现，这些银行在 2017 年创造了总计 4613.2 亿美元的流动性，约为总流动性的 1.51 倍2008 年创造的流动性主要由海湾合作委员会 (GCC) 国家的商业银行推动。我们还进行了计量经济学分析，以调查影响银行流动性创造的内部和外部因素，应用固定效应模型和新的矩分位数回归方法 (MMQR)。结果表明，在银行特定因素中，中东和北非国家的银行流动性创造与资本、规模、银行风险、存款和盈利能力有关，而市场集中度似乎没有发挥重要作用。