经济与管理研究2016，Vol.37Issue(12)：45-56,12.DOI:10.13502/j.cnki.issn1000-7636.2016.12.006
Research on Economics and Management
Monetary Policy,Bank Competition and Liquidity Creation
巴曙松 1何雅婷 2曾智3
作者信息
- 1. 中国银行业协会，北京，100033
- 2. 重庆大学经济与工商管理学院，重庆市，400030
- 3. 中国人民大学财政金融学院，北京，100872
- 折叠
摘要
Abstract
Based on the annual unbalanced panel data of 1 1 2 domestic banks from 2006 to 201 4,this paper studied the impact of monetary policy and bank competition on liquidity creation by using the system of generalized method of moments estimation.The empirical results show that:(1 )Monetary policy tools affect liquidity creation differently.The monetary policy tools of the benchmark loan rate and deposit reserve have negative impact on liquidity creation,while the growth rate of M2 and the benchmark deposit rate have positive impact on liquidity creation;(2 )There is a “fragility channel”of China's commercial banks,and the increase on bank competition will reduce liquidity creation.The increase on bank competition will increase liquidity creation of large banks after size classification;(3 )The monetary policy has different impact on different types of banks.The increase of deposit reserve will reduce liquidity creation of joint-equity commercial banks and city commercial banks,but will increase liquidity creation of other types of commercial banks.关键词
货币政策/银行竞争力/流动性创造/脆弱性渠道/中国银行业Key words
monetary policy/bank competition/liquidity creation/fragility channel/China's bank industry分类
管理科学引用本文复制引用
巴曙松,何雅婷,曾智..Research on Economics and Management[J].经济与管理研究,2016,37(12):45-56,12.
