批发型负债融资对信贷亲周期性的影响——基于我国银行业数据的分析  

The Impact of Bank Wholesale Funding on the Credit Procyclicality——A Study Based on the Data of Chinese Commercial Banks

作　　者：辛兵海[1] 张晓云[2] 陶江[3] 

机构地区：[1]河北经贸大学金融学院,河北石家庄050061 [2]北京大学经济学院,北京100871 [3]南开大学经济学院,天津300071

出　　处：《西安交通大学学报（社会科学版）》2017年第3期7-13,共7页Journal of Xi'an Jiaotong University：Social Sciences

基　　金：国家社科基金重大项目(13&ZD018);河北省高等学校青年拔尖人才计划项目(BJ2017075);辽宁省社科基金重点项目(L16AJY005)

摘　　要：基于中国宏观经济数据和微观银行数据,实证分析了批发型负债融资对银行信贷亲周期性影响。实证分析表明:中国银行业具有明显的信贷亲周期性效应,对批发型负债融资依赖性越强的银行,其信贷投放的亲周期程度越强;随着批发型负债占比(增速)的增加,商业周期对信贷投放的边际影响程度也越来越强。研究启示银行业监管部门不仅要关注批发型负债融资的数量特征,还需关注批发型负债融资的期限和借款频次等质量特征。Based on the macroeconomic data and the micro banking data, this paper empirically analyzes the impact of bank wholesale funding （WSF） on credit procyclicality. The empirical analysis shows that： Firstly, the banking industry in China has a significant credit procyclical effect, the stronger the financial dependence of WSF, the higher the degree of credit procy- clicality. Secondly, with the increase in the share （or growth rate） of WSF, the marginal impact of the business cycle on the credit growth is also growing. This study reveals that the bank regulatory commission should not only focus on bank WSF quantitative characteristics, but also the quality characteristics, such as maturity and borrowing frequency.

关 键 词：批发型负债融资 信贷亲周期性 信贷投放 商业周期 

分 类 号：F832.4[经济管理—金融学]