利率市场化对商业银行存贷款利差的影响研究——基于价格型与数量型货币政策环境  

Study on Influence of Interest Rate Liberalization to Interest Margins of Commercial Banks——Based on Price-type and Quantatity-type Monetary Policy Environment

作　　者：顾海峰[1] 朱莉莉 GU Haifeng;ZHU Lili(Glorious Sun School of Business and Management, Donghua University, Shanghai 200051,China)

机构地区：[1]东华大学旭日工商管理学院,上海200051

出　　处：《财经理论与实践》2019年第6期24-31,共8页The Theory and Practice of Finance and Economics

基　　金：国家社会科学基金一般项目(13BGL041)。

摘　　要：将利率市场化引入做市商模型,分析银行存贷款利差的主要影响因素,并选取2006-2016中国银行业年度数据对利率市场化对银行存贷款利差的影响进行实证分析。结果显示:利率市场化与银行存贷款利差之间呈现倒U型关系,当利率市场化指数达到58.07的临界值时,银行存贷款利差将达到最大值10.61%;利率市场化对银行存贷款利差的影响存在异质性特征,其对股份制银行、国有银行与城商行的影响力度依次递减;货币政策对利率市场化存在反向抑制效应,这是由货币政策逆周期调控功能所决定的,相对于数量型货币政策,价格型货币政策的长期影响力度提高了1.508倍,短期影响力度提高了1.605倍;价格型货币政策对国有银行、城商行与股份制银行的影响力度依次递减,数量型货币政策对股份制银行、国有银行与城商行的影响力度依次递减。This paper analyzes influence factors of interest rate liberalization to banks interest margins of deposit-loan by introducing interest rate liberalization into a dealer model.On this basis,it gives an empirical analysis on influence of interest rate liberalization to banks interest margins by selecting annual data of 2006 to 2016.This result shows that:It exists anti-U-shape relationship between interest rate liberalization,when interest rate liberalization index is 58.07,banks interest margins will obtain maximization 10.61 percent.It exists significant heterogeneity influence of interest rate liberalization to banks interest margins,and Influence of interest margins to stock-holding bank,nation bank and city bank is in descending order.Monetary policy has reverse inhibition effect to interest rate liberalization,which is determined by counter-cyclical regulation and control function of monetary policy.In relativity to quantitative-type monetary policy,Long-term influence of Price-type monetary policy enlarges 1.508 times,and short-term influence enlarges 1.605 times.Influence of price-type monetary policy to interest margins of nation banks,city banks and stock-holding banks is in descending order,and influence of quantitative-type monetary policy to interest margins of stock-holding banks,nation banks and city banks is in descending order.

关 键 词：利率市场化 商业银行 存贷款利差 货币政策环境 做市商模型 

分 类 号：F830.33[经济管理—金融学]