影子银行对我国经济发展影响研究

发布时间：2019-03-02 20:33

【摘要】：影子银行体系的概念于2007年首次被提出，，是指游离于监管体系之外，与传统商业银行行使类似的功能进行融资和提供信用的非银行金融机构。2007年爆发的全球性金融危机，波及了世界的多个国家和地区，其产生的根源并非来自传统的银行业金融体系，而是来自与传统商业银行系统有着紧密关联的影子银行体系。影子银行由于具有高杠杆性，期限错配和不透明等特点,因而存在较大风险。体系内部之间的风险传递、与商业银行之间的紧密联系，是引发这次全球性金融危机的根源。这次金融危机的爆发，使得世界各国银行业监管机构和专家学者开始重新审视本国的金融体系、影子银行的运作机制和存在的风险，并提出监管的方法，意图将风险降到最低。相比于欧美发达国家，我国影子银行起步较晚，资产证券化程度较低。但是随着经济的逐渐发展和社会对货币需求的不断加大，我国影子银行也得到了快速的发展。影子银行体系的发展，提供了多样化的投资理财产品，有效的缓解了小企业融资难的问题。但是体系自身存在的缺陷和风险，也对金融体系的稳定和国家货币政策实施效果产生了较大的负面影响。纵观世界各国专家学者的研究，更多的是关注了影子银行的运行机制、存在的风险及提出监管建议，但是在影子银行对经济发展的影响方面，研究并不深入。国内学者对该问题的研究，更多的集中在影子银行对货币政策效果产生的不利影响方面，而对影子银行的积极作用、宏观经济环境对影子银行的影响方面却较少提及。这不禁会使我们对影子银行的认识上产生偏颇。本文正是在这个基础上产生的，意图全面的、定性定量的研究影子银行对我国经济发展产生的积极影响和消极影响。本文的第一个部分对影子银行做了一个完整而全面的概述。首先是国内外学者对影子银行概念的研究，然后从资金来源、金融创新、表现形式和风险传递四个方面分析了国内外影子银行的差异。之后又从资金来源、融资模式、信息透明度和金融监管等方面揭示了影子银行与传统商业银行不同的运作机制。最后，通过以上对影子银行的剖析，揭示了影子银行的特征及存在的风险。第二部分阐述了我国影子的发展和现状，提出我国影子银行与传统商业银行业务交错，并具有明显体制特征。第三部分是本文的核心部分，从影子银行对国民经济的增长和对货币政策的冲击两个方面定性定量的进行了研究，研究结果表明影子银行的发展对国民经济的增长起促进作用，而对物价水平变动效果的影响不显著，只是微弱的影响了货币供给量。而经济的增长和减少货币供给量会对影子银行的发展起推动作用。第四部分，针对影子银行自身存在的风险和对货币政策方面的消极影响，提出完善货币政策和加强金融监管的建议。
[Abstract]:The concept of shadow banking system was first put forward in 2007. It refers to non-bank financial institutions that are separated from the regulatory system and perform similar functions as traditional commercial banks to finance and provide credit. The global financial crisis broke out in 2007. Many countries and regions in the world are affected by the shadow banking system which is closely related to the traditional commercial banking system, not from the traditional banking financial system, but from the shadow banking system which is closely related to the traditional commercial banking system. Shadow banking has great risks because of its high leverage, term mismatch and opacity. The risk transmission within the system and the close connection with commercial banks are the root causes of the global financial crisis. With the outbreak of the financial crisis, banking regulators and experts and scholars from all over the world began to re-examine their own financial system, the operating mechanism of shadow banks and the existing risks, and put forward the methods of regulation in order to minimize the risk. Compared with the developed countries in Europe and America, shadow banks in China started late and the degree of asset securitization was lower. However, with the gradual development of economy and the increasing demand for money, shadow banking in China has also got rapid development. The development of shadow banking system provides a variety of investment financial products, and effectively alleviates the difficulty of financing small enterprises. However, the defects and risks of the system also have a great negative impact on the stability of the financial system and the effect of the implementation of the national monetary policy. Looking at the research of experts and scholars from all over the world, we pay more attention to the operation mechanism of shadow banking, existing risks and put forward regulatory suggestions, but in the impact of shadow banking on economic development, the research is not in-depth. Domestic scholars focus more on the negative effects of shadow banking on monetary policy, but on the positive effect of shadow banking and the impact of macro-economic environment on shadow banking. This can't help but bias our understanding of shadow banking. On this basis, this paper aims to study the positive and negative effects of shadow banking on the economic development of our country both qualitatively and quantitatively. The first part of this paper gives a complete and comprehensive overview of shadow banking. Firstly, the author studies the concept of shadow banking at home and abroad, and then analyzes the differences of shadow banking at home and abroad from four aspects: the source of funds, financial innovation, forms of expression and risk transmission. Then it reveals the different operation mechanism between shadow banks and traditional commercial banks from the aspects of capital source, financing mode, information transparency and financial supervision. Finally, through the above analysis of shadow banking, it reveals the characteristics and risks of shadow banking. The second part expounds the development and present situation of shadow banking in China, and points out that shadow banking and traditional commercial banks in China are interlaced, and have obvious system characteristics. The third part is the core part of this paper, from the shadow banking to the growth of the national economy and the impact on the monetary policy qualitative and quantitative research, the results show that the development of shadow banking to the growth of the national economy plays an important role in promoting the growth of the national economy. But the effect on the price level change is not significant, but has a weak impact on the amount of money supply. The growth of the economy and the reduction of money supply will promote the development of shadow banking. In the fourth part, according to the risk of shadow bank itself and the negative influence on monetary policy, some suggestions are put forward to perfect the monetary policy and strengthen the financial supervision.
【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】：F832.3;F124

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