外资银行贷款利率更低——来自新兴市场银团贷款的证据及解释

发布时间：2018-02-27 17:13

本文关键词： 外资银行贷款利率银团贷款新兴市场　出处：《财贸经济》2017年05期 　论文类型：期刊论文

【摘要】：在"一带一路"背景下,不仅我国制造业企业面临着"走出去",我国商业银行等金融机构同样面临着"走出去"。"一带一路"沿线国家多数为新兴经济体和发展中国家,通过对新兴市场银团贷款特征的研究可以为我国商业银行"走出去"提供借鉴。基于此,本文利用汤森路透Dealscan数据库公布的1989-2015年中国、巴西、印度、印度尼西亚、马来西亚、墨西哥、俄罗斯、南非、泰国、菲律宾10个新兴市场国家企业的银团贷款数据,分析了外资银行牵头对银团贷款利率的影响机制。研究结果表明,在新兴市场企业银团贷款中,外资银行牵头会显著降低银团贷款利率。对此,本文从银行竞争力视角为外资银行贷款利率更低提供了解释。进一步分析发现,银行使用本国货币会显著影响外资银行贷款利率。
[Abstract]:Against the background of "Belt and Road," not only are China's manufacturing enterprises facing "going out", but Chinese commercial banks and other financial institutions are also facing "going out." most of the countries along the route of "Belt and Road" are emerging economies and developing countries. The study on the characteristics of syndicated loans in emerging markets can be used as a reference for Chinese commercial banks to "go out". Based on this, this paper uses Thomson Reuters Dealscan database published from 1989 to 2015 in China, Brazil, India, Indonesia, Malaysia, China, Brazil, India, Indonesia, Malaysia, China, Brazil, India, Indonesia, Malaysia. Syndicated loan data from 10 emerging-market countries in Mexico, Russia, South Africa, Thailand and the Philippines analyzed the mechanisms leading by foreign banks on syndicated lending rates. Taking the lead of foreign banks can significantly reduce the interest rate of syndicated loans. This paper provides an explanation for the lower interest rates of foreign banks from the perspective of bank competitiveness. The use of local currency by banks will significantly affect the interest rate on foreign banks' loans.
【作者单位】：对外经济贸易大学金融学院;
【基金】：国家自然科学基金面上项目“金融市场参与行为对财富分布的影响及其政策模拟研究”(71373043) 对外经济贸易大学中国企业“走出去”协同创新中心科研项目“中国企业‘走出去’的融资问题”(201502YY003A);对外经济贸易大学国内外联合培养研究生项目“新兴市场银团贷款利率形成机制研究”(201501)
【分类号】：F831.2

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