存贷款市场竞争对货币政策信贷渠道的影响是非对称的吗——基于中国利率市场化改革的讨论  

Does Loan and Deposit Market Competition Affect the Credit Channel of Monetary Policy Asymmetrically? Based on China's Interest Rate Liberalization

作　　者：刘忠璐[1] 

机构地区：[1]山东工商学院金融学院,山东烟台264005

出　　处：《财贸研究》2017年第6期65-73,共9页Finance and Trade Research

基　　金：国家社会科学基金项目"中国增加值贸易隐含排放的测度及其政策含义研究"(16CJL038);教育部人文社会科学规划项目"新兴市场国家(地区)银行危机与货币危机的共生性研究"(13YJA790122)

摘　　要：选取2002—2014年中国76家商业银行数据为样本,实证分析存贷款市场竞争对货币政策信贷渠道的非对称性影响。结果显示:存贷款市场的适度竞争,有利于货币政策信贷渠道的传导,而贷款市场竞争的影响更大;贷款市场竞争在增强扩张性货币政策信贷渠道上的作用力度要大于存款市场竞争;相较于紧缩性货币政策,存款市场竞争更能促进扩张性货币政策信贷渠道传导。This article uses Chinese 76 commercial banks＇ data from 2002 to 2014 to test the asymmet- ric impact of the deposit and loan market competition on the credit responses to monetary policy. The empir- ical analysis yields the following results., Deposit and loan market competition promotes the transmission of credit channel of monetary policy and loan market competition plays a greater role. Loan market competition plays a more obvious role than deposit market competition on the effect of expansionary monetary policy on credit. Deposit market competition＇s promoting effect is greater at monetary policy expansion period than at monetary policy tightening period.

关 键 词：利率市场化 存贷款市场竞争 货币政策信贷渠道 非对称影响 

分 类 号：F822.0[经济管理—财政学]