监管政策能否抑制商业银行亲周期行为——基于中国上市银行面板数据的经验证据

发布时间：2018-07-05 01:22

本文选题：宏观审慎监管 + 亲周期行为　；参考：《财贸经济》2011年02期

【摘要】：当前,实施逆经济周期的宏观审慎监管已成为国际组织和各国监管当局的共识。通过对2001—2009年国内上市银行面板数据进行估计,本文发现我国商业银行具有稳定的资本缓冲计提顺周期行为,但信贷活动并不具有明显的亲周期性特征,表明监管部门的资本监管政策总体上已经渐进有效。为了更有效地提升中国金融体系的稳健性,进一步实施宏观审慎和微观审慎协调的金融监管制度,完善逆周期的资本监管机制,抑制金融机构亲周期行为应成为中国金融监管改革的必要内容。
[Abstract]:At present, macro-prudential regulation against the economic cycle has become the consensus of international organizations and national regulatory authorities. By estimating the panel data of domestic listed banks from 2001 to 2009, this paper finds that commercial banks in China have stable capital buffer and pro-cyclical behavior, but credit activities do not have a pro-cyclical characteristic. This indicates that the regulatory policy of capital supervision has been gradually effective on the whole. In order to enhance the stability of China's financial system more effectively, we should further implement a financial regulatory system of macro-prudential and micro-prudential coordination, and improve the counter-cyclical capital supervision mechanism. Restraining the pro-cyclical behavior of financial institutions should be an essential part of China's financial regulatory reform.
【作者单位】：复旦大学金融研究院;
【基金】：国家自然科学基金项目(70973023) 上海市社科基金项目(2009BJB003)的研究成果 “复旦大学985国际竞争力创新项目”的研究资助
【分类号】：F832.3

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