影子银行在中国的发展及其对经济影响的研究

发布时间：2018-04-26 00:15

本文选题：影子银行 + 经济影响　；参考：《吉林大学》2014年硕士论文

【摘要】：在金融创新和“金融脱媒化”的共同推动作用下，世界金融市场的格局已经朝着多元化的结构发展，金融全球化是当今时代金融发展的总体趋势。在全球影子银行体系迅速膨胀的时候，中国的金融市场也无法抵挡影子银行天生融资优势的魅力。2007年影子银行一词一经提出，就迅速引起各界学者的广泛关注，但究其根源，早在金融衍生品市场逐步繁荣之初，影子银行就初具雏形，并且一直处于监管的灰色地带。直到2008年席卷全球的金融危机爆发后，全球金融监管当局才意识到影子银行体系隐藏的巨大系统性风险。本文在分析国内外影子银行体系的形成过程之后，采取实证研究的方法，探讨影子银行的发展对国内实体经济的影响，最后，通过借鉴国外基本成型的金融监管模式，针对国内监管现状，提出我国对影子银行监管的政策建议，以引导影子银行在规避金融危机风险的同时，充分发挥其金融促进作用。本文一共分为五个章节：第一章介绍了本文的选题背景和研究意义，简要地概述了国内外对于影子银行体系的研究现状。影子银行体系在国外已经成为金融市场的中流砥柱，而在中国，由于金融创新不足和严格的金融监管，影子银行尚处于起步阶段。对比国内外学者的研究情况，有助于分析本国未来的研究方向。第二章主要是对影子银行体系的概述，根据官方给出的定义，对影子银行涵盖范围进行了简单的探讨。通过影子银行和传统商业银行之间的对比，来分析在金融创新背景下的影子银行体系的特点，同时探讨新兴的互联网金融和影子银行之间千丝万缕的联系。在第三章，本文重点对国内外的影子银行体系进行对比，首先分析了国内外影子银行体系的形成过程，以国外发展模式为启示，探索我国影子银行发展的出路，然后分析国内外影子银行体系的差别，从我国影子银行的现存状态出发，寻找适合我国金融环境的监管对策。第四章是本文的实证章节，本文选取影子银行的规模、国内生产总值和货币供应量作为三个变量，，通过X12方法去除季节性因素对经济序列的影响，构建VAR模型，用脉冲响应函数和方差分解来分析影子银行对国民经济和货币政策的影响，并用模型对上述影响程度做出估计。本文第五章着重探讨影子银行的监管问题。在2008年金融危机爆发后，国外的影子银行监管体系就如火如荼地建立起来，本文在借鉴国外的金融监管经验后，提出符合我国现阶段影子银行和金融市场发展的金融监管建议，以降低影子银行体系的系统性风险。
[Abstract]:With the joint promotion of financial innovation and financial disintermediation, the pattern of world financial market has developed towards a diversified structure. Financial globalization is the general trend of financial development in the present era. At a time when the global shadow banking system was expanding rapidly, China's financial markets were unable to resist the charm of shadow banking's inherent financing advantages. The term shadow banking, as soon as it was proposed in 2007, attracted widespread attention from scholars from all walks of life, but its root causes were investigated. As early as the derivatives market began to flourish, shadow banking has taken shape, and has been in the regulatory gray zone. It was not until the global financial crisis that engulfed the world in 2008 that global financial regulators realized the huge systemic risks hidden in the shadow banking system. After analyzing the forming process of the shadow banking system at home and abroad, this paper adopts the method of empirical research to discuss the influence of the development of the shadow banking on the domestic real economy. In view of the present situation of domestic supervision, this paper puts forward some policy suggestions on the supervision of shadow banking in our country, in order to guide the shadow banks to play a full role in promoting finance while avoiding the risk of financial crisis. This paper is divided into five chapters: The first chapter introduces the background and significance of this paper, and briefly summarizes the research status of shadow banking system at home and abroad. Shadow banking system has become the mainstay of financial market in foreign countries. In China, shadow banking is still in its infancy due to inadequate financial innovation and strict financial supervision. Comparing the research situation of domestic and foreign scholars, it is helpful to analyze the future research direction of our country. The second chapter is an overview of the shadow banking system, according to the definition given by the official, the shadow banking coverage is discussed briefly. Through the comparison between shadow banking and traditional commercial banks, this paper analyzes the characteristics of shadow banking system under the background of financial innovation, and probes into the inextricable links between the emerging Internet finance and shadow banks. In the third chapter, this paper focuses on the contrast of shadow banking system at home and abroad. Firstly, it analyzes the formation process of shadow banking system at home and abroad, and explores the way out for the development of shadow banking in China. Then it analyzes the differences of shadow banking system at home and abroad and looks for the regulatory countermeasures suitable for the financial environment of our country from the existing state of shadow banking in our country. The fourth chapter is the empirical chapter of this paper, this paper selects the size of shadow banking, GDP and money supply as three variables, through X12 method to remove seasonal factors on the economic series, build VAR model. Impulse response function and variance decomposition are used to analyze the influence of shadow banking on national economy and monetary policy. The fifth chapter focuses on the supervision of shadow banking. After the financial crisis broke out in 2008, the foreign shadow banking supervision system has been set up in full swing. After drawing lessons from the experience of foreign financial supervision, this paper puts forward some financial supervision suggestions which accord with the development of shadow banking and financial market in China at the present stage. To reduce systemic risk in the shadow banking system.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.1;F124

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