外资银行进入对我国信贷资本配置效率的影响--基于面板门限模型的实证分析  被引量:5

Foreign Banks Entry and the Capital Allocation Efficiency of China’s Credit--An Empirical Analysis Based on the Panel Threshold Model

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作  者:杨振宇[1] 李富有[1] 张中岩 YANG Zhenyu;LI Fuyou;ZHANG Zhongyan(School of Economics and Finance,Xi’an Jiaotong University,Xi’an 710061,China)

机构地区:[1]西安交通大学经济与金融学院,陕西西安710061

出  处:《当代经济科学》2021年第2期48-57,共10页Modern Economic Science

摘  要:本文在考察中国各行业和地区信贷资本配置效率的基础上,分别选取外资银行机构数量份额和资产份额作为门限变量,构建面板门限模型,检验外资银行进入对中国信贷资本配置效率的影响。研究结果表明:中国信贷资本配置效率总体较低,波动幅度比较明显,各行业之间的信贷自发投资水平存在显著差异,区域之间差异较大。选取外资银行机构数量份额为门限变量时,存在正向单门限效应,机构数量增加有利于信贷资本配置效率提升;选取外资银行资产份额作为门限变量时,存在双重门限效应,且资产份额与信贷资本配置效率先负相关,再正相关。外资银行进入带来的竞争效应、溢出效应会促使信贷资金流向效益更高的行业或地区,从而进一步提升信贷资本配置效率。Based on the investigation of the credit capital allocation efficiency of Chinese industries and regions,this paper selects the number of foreign banking institutions share and asset share as the threshold variables respectively,constructs the panel threshold model,and tests the inflences of foreign banks entry on the capital allocation efficiency of China’s credit.The results show that,firstly,the capital allocation efficiency of China’s credit is overall low,and its amplitude of fluctuation is obvious.There is a significant difference between each industry credit spontaneous investment level,and there are great differences between regions.Secondly,there is a positive single threshold effect when we select the number of share of foreign banks institutions as the threshold variable.It indicates that the increase in the number of foreign banks institutions can enhance the capital allocation efficiency of China’s credit.There is a double threshold effect,when the foreign bank assets share is selected as the threshold variable,and the relationship between assets share and credit capital allocation efficiency is firstly negatively and then positively correlated.Thirdly,with the foreign bank entry,the competition effect and spillover effect will make the credit funds flow to the more efficient industries or areas,and finally promote the enhancement of efficiency of credit capital allocation.

关 键 词:外资银行 金融市场 信贷资本 配置效率 弹性系数法 门限效应 

分 类 号:F832.4[经济管理—金融学] F125

 

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