The Survey on Interest Rate Controls 2020 was conducted as a World Bank Group study on interest rate controls (IRCs) in lending and deposit markets around the world. The study aims to identify the different types of formal (or de jure) controls, the countries that apply then, how they implement them, and the reasons for doing so. The objective of the study is to advance knowledge on this topic by providing an evidence base for investigating the impact of IRCs on economic outcomes.

The survey investigates present IRCs in each surveyed country, the reasons why they have been applied, the framework and resources associated with their application and the details as to their level and functioning. The focus is on legal forms of control (i.e. codified into law) as opposed to de facto controls. The new database on interest rate controls, a popular form of financial repression is based on a survey of 108 countries, representing 88 percent of global gross domestic product. The interest rate controls presented in this dataset were in effect in 2019.

Abstract

The Survey on Interest Rate Controls 2020 was conducted as a World Bank Group study on interest rate controls (IRCs) in lending and deposit markets around the world. The study aims to identify the different types of formal (or de jure) controls, the countries that apply then, how they implement them, and the reasons for doing so. The objective of the study is to advance knowledge on this topic by providing an evidence base for investigating the impact of IRCs on economic outcomes.

The survey investigates present IRCs in each surveyed country, the reasons why they have been applied, the framework and resources associated with their application and the details as to their level and functioning. The focus is on legal forms of control (i.e. codified into law) as opposed to de facto controls. The new database on interest rate controls, a popular form of financial repression is based on a survey of 108 countries, representing 88 percent of global gross domestic product. The interest rate controls presented in this dataset were in effect in 2019.

Geographic coverage

Global Survey, covering 108 countries, representing 88 percent of global GDP.

Analysis unit

Regulation at the national level.

Universe

Banking supervisors and Local Banking Associations.

Kind of data

Sample survey data [ssd]

Mode of data collection

Mail Questionnaire [mail]

Research instrument

Bank supervisors and banking associations were provided with a standard excel file with five parts. The survey was structured in five parts, each placed in a different excel sheet. Part A: Introduction. Countries with no IRCs in place were asked to only answer this sheet and leave the rest blank. Part B: Presented the definitions of controls, institutions, products and additional aspects that will be covered in the survey. Part C: Introduced a set of qualitative questions to describe the IRCs in place. Part D: Displayed a set of tables to quantitatively describe the IRCs in place. Part E: Laid out the final set of questions, covering sanctions and control mechanisms that support the IRCs' enforcement. The questionnaire is provided in the Documentation section in pdf and excel.