银行业市场集中度对货币政策传导有效性影响研究——基于信贷传导视角  

Research on the Effect of Banking Market Concentration on the Effectiveness of Monetary Policy Transmission——From the Perspective of Credit Transmission

作　　者：宋长青 SONG Changqing(Shanxi Credit Research Center Xi'an University of Finance and Economics,Xi'an,Shanxi 710100,China;Guanghua School of Management,Peking University,Beijing 100871,China)

机构地区：[1]西安财经大学陕西省信用研究中心,陕西西安710100 [2]北京大学光华管理学院,北京100871

出　　处：《财经理论与实践》2019年第3期32-38,共7页The Theory and Practice of Finance and Economics

基　　金：全国统计科学研究项目(2016LY38);国家社会科学基金青年项目(17CJY003);陕西省社会科学基金项目(2016D025)

摘　　要：选取我国17家商业银行2006-2017年数据构建固定效应面板数据模型进行实证分析,结果表明:银行业市场集中度的变化会对货币政策信贷传导有效性产生影响。当银行集中度较高时,银行集中度与货币政策信贷传导有效性间呈正向变动关系;但是反向关系存在于较低银行集中度时,临界点位于银行集中度为39.795%时。中小型银行的信贷增速较之大型国有商业银行受到货币政策影响更大。银行集中度越低意味着竞争程度越强,货币政策信贷传导的有效性越高。We selected 17 Commercial Banks in China from 2006 to 2017 to construct a fixed-effect panel data model for empirical analysis, and drew the following basic conclusions: the change of banking market concentration will have an impact on the effectiveness of monetary policy credit transmission. When the concentration of banking is high, there is a positive relationship between banking concentration and the effectiveness of monetary policy credit transmission;but the reverse relationship exists at the lower concentration of banking, and the critical point is at 39.795% concentration of banking. The credit growth rate of small-and medium-sized banks is more affected by monetary policy than that of large state-owned commercial banks. The lower the banking concentration is, the stronger the competition is, and the more effective the monetary policy credit transmission is.

关 键 词：银行业集中度 向量自回归模型 面板数据模型 货币政策信贷传导 

分 类 号：F820.3[经济管理—财政学]