银行业顺周期性的特征、原因与传导机制:一个文献综述

发布时间：2018-05-01 14:16

本文选题：金融周期 + 顺周期性　；参考：《南方金融》2017年11期

【摘要】：2008年爆发的国际金融危机表明,银行业顺周期性是导致金融领域重大风险的深层次微观原因。顺周期性是银行业固有的特征,银行业顺周期行为是对有效市场假说的背离,阻碍了金融资源的有效配置,加剧了经济波动。在商业银行顺周期性形成机制中,信贷投放是核心推动力,贷款损失准备计提、资本充足率、公允价值计量、评级机构和银行内部评级等也具有显著的顺周期性,基于风险管理的某些微观审慎监管规则有可能进一步加剧商业银行的顺周期性。以整个金融体系健康为目标的宏观审慎政策能够有效缓解银行业顺周期性。只有将银行业过度顺周期性问题纳入宏观审慎政策框架之中,才能进一步提高金融系统的稳定性。以往文献对于银行业顺周期性产生原因的研究大多是从供给角度切入的,下一步研究可从需求角度入手进行探讨。
[Abstract]:The international financial crisis broke out in 2008 shows that banking procyclicality is the deep microcosmic cause of the major risks in the financial field. The pro-cyclical behavior of banking is an inherent characteristic of banking, which deviates from the efficient market hypothesis, hinders the efficient allocation of financial resources and intensifies economic fluctuations. In the pro-cyclical formation mechanism of commercial banks, credit lending is the core driving force. The reserve for loan losses, capital adequacy ratio, fair value measurement, rating agencies and internal ratings of banks are also significantly pro-cyclical. Some microprudential regulations based on risk management may further aggravate the procyclicality of commercial banks. Macro-prudential policies aimed at the health of the entire financial system can effectively mitigate the banking procyclicality. The stability of the financial system can only be further enhanced by integrating the excessive pro-cyclical problems of banking into the macro-prudential policy framework. The previous studies on the causes of banking procyclicality are mostly from the point of view of supply, and the next step can be discussed from the point of view of demand.
【作者单位】：中国人民银行南宁中心支行;
【基金】：教育部哲学社会科学研究重大课题攻关项目《中国经济发展新常态的内涵、特征及其演变逻辑研究》(15JZD011)的资助
【分类号】：F832

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