银行产权、货币政策调整与银行信贷行为——基于我国商业银行面板数据的分析  

Bank Ownership,Monetary Policy Adjustment and Bank Credit:Evidence from Bank-level Panel Data in China

作　　者：钱燕[1] 万解秋[1] 

机构地区：[1]苏州大学东吴商学院,江苏苏州215021

出　　处：《南方金融》2013年第6期14-19,共6页South China Finance

基　　金：江苏省普通高校研究生科研创新计划基金资助项目<我国货币政策传导的非线性效应研究>(项目编号:CXZZ12-0773)的资助

摘　　要：本文利用2003-2011年我国商业银行年度面板数据考察不同产权性质的商业银行面对货币政策调控时的信贷行为。研究发现:第一,国内商业银行和外资银行的信贷行为在货币政策调整时表现出明显的异质性。货币政策调控对我国国内商业银行的影响较强,而外资银行的信贷增量与我国的货币供应量的增加呈显著的负相关性。第二,对我国国内商业银行来说,货币政策调整对国有控股商业银行的影响大于对其他股份制商业银行的影响。在不区分货币政策松紧状态和区分货币政策松紧状态的情况下,货币供应量增长率的回归系数对于国有控股商业银行来说都大于其他股份制商业银行。本文的研究支持了我国货币政策的信贷传导机制,对货币政策调控有一定的参考意义。In this paper,using the annual panel data of commercial banks in China during the period from 2003 to 2011,the authors examine the effectiveness of monetary policy through a lending channel differs across banks with different ownerships.The results show that： firstly,there are considerable differences between domestic banks and foreign banks in the reactions to monetary policy initiatives of the central bank;secondly,for domestic banks,there are differences between stateownered banks and other joint-equity commercial banks in response to monetary policy.The results support the credit channel of monetary policy transmission mechanism and cast some implications for the formulation and implementation monetary policy.

关 键 词：银行信贷 银行产权 货币政策 货币政策传导机制 

分 类 号：F832.4[经济管理—金融学] F822.0F224