商业银行对货币政策的信贷行为反应与分布特征

发布时间：2018-01-11 07:29

本文关键词：商业银行对货币政策的信贷行为反应与分布特征　出处：《上海经济研究》2012年09期 　论文类型：期刊论文

【摘要】：本文研究了全国性商业银行、城市商业银行和外资银行对货币政策冲击的信贷行为反应与分布特征,发现货币政策仅对全国性商业银行的信贷供给有显著影响,且规模越大、股权资本越多的银行对货币紧缩姿态有更大的信贷行为反应,这隐含当银行业结构高度集中或监管当局实施严格的监管资本约束时,货币紧缩政策能较大地降低银行业的信贷供给。在政府普遍的隐性保险保护或支持下,全国性商业银行的储蓄资金均由准备性的"保险"储蓄构成,货币紧缩未能显著降低或改变其储蓄基础与构成,其信贷缩减与银行借贷渠道隐含的微观传导机制有所不同。在央行货币政策的冲击下,即使市场观测到的银行信贷供给有重大调整或变动,那很可能是在央行货币政策姿态的暗示或督导下,全国性商业银行对其信贷供给计划的主动调适,而非对其资金来源结构进行被动调整以适应信贷供给的需要。
[Abstract]:This paper studies the credit behavior response and distribution characteristics of national commercial banks, urban commercial banks and foreign banks to the impact of monetary policy. It is found that monetary policy only has a significant impact on the credit supply of national commercial banks. And the larger the size, the more equity capital banks have a greater credit response to the monetary tightening posture, which implies that when the banking structure is highly concentrated or the regulatory authorities implement strict regulatory capital constraints. Monetary tightening policy can greatly reduce the credit supply of the banking industry. Under the general implicit insurance protection or the support of the government, the savings funds of the national commercial banks are made up of the preparatory "insurance" deposits. Monetary tightening has not significantly reduced or changed its savings base and composition, and its credit reduction is different from the microcosmic transmission mechanism implied by bank lending channels. Under the impact of central bank monetary policy. Even if there is a significant adjustment or change in the supply of bank credit observed by the market, it is very likely that the national commercial banks are actively adjusting their credit supply plans under the hint or supervision of the monetary policy posture of the central bank. Instead of passively adjusting its source structure to meet the demand of credit supply.
【作者单位】：复旦大学经济学院;
【基金】：国家自然科学基金(70903012) 教育部人文社会科学研究基金(09YJC790045)资助
【分类号】：F832.4;F822.0;F224
【正文快照】： 一、引言货币观点强调货币政策通过利率来影响投资和产出,它撇开了微观银行中介的作用。而信贷观点(如银行借贷渠道)坚称货币政策通过改变银行信贷供给的方式来影响投资和产出,其基本逻辑是:在紧缩性货币政策的冲击下,当银行融资市场是不完美(如不同融资市场不可替代)时,它将

【相似文献】