证券市场导报Issue(12)：68-76,9.
非银行金融机构影子贷款是否影响银行流动性创造?
摘要
Abstract
This paper uses panel data comprising 177 commercial banks in China from 2010 to 2022 to empirically examine the mechanism through which shadow lending by non-bank financial institutions affects the liquidity creation of banks.The research shows that(1)shadow lending by non-bank financial institutions exerts an inhibitory effect on the liquidity creation of banks.Compared to joint-equity banks,shadow lending by non-bank financial institutions exerts a stronger inhibitory effect on the liquidity creation of state-owned banks and urban and rural commercial banks.The implementation of the"Guiding Opinions on Regulating the Asset Management Business of Financial Institutions"helps to mitigate the inhibitory effect of shadow lending by non-bank financial institutions on banks'liquidity creation.(2)Interbank business plays an intermediary role in the relationship between shadow lending by non-bank financial institutions and banks'liquidity creation.Shadow lending by non-bank financial institutions suppresses banks'liquidity creation mainly through the channel of reducing the size of interbank business.(3)The channel test for distinguishing interbank business types shows that the intermediation effect of traditional interbank business channels accounts for a larger proportion than that of emerging interbank business channels,and shadow lending by non-bank financial institutions is more likely to influence the liquidity creation of banks through traditional interbank business channels.The paper provides important theoretical guidance and decision-making reference for improving the regulatory efficiency of shadow lending by non-bank financial institutions and preventing and controlling systemic risk in the banking sector in the dimension of liquidity creation.关键词
非银行金融机构/影子贷款/银行流动性创造/同业业务/货币政策Key words
non-bank financial institutions/shadow lending/liquidity creation of banks/interbank business/monetary policy分类
管理科学引用本文复制引用
顾海峰,朱慧萍..非银行金融机构影子贷款是否影响银行流动性创造?[J].证券市场导报,2023,(12):68-76,9.基金项目
教育部人文社会科学研究规划基金项目"跨境资本流动对商业银行信贷风险的影响机理及政策研究"(项目编号:20YJA790014) （项目编号:20YJA790014）
东华大学人文社科繁荣计划预研究重大项目"新发展格局下双支柱调控框架对银行风险的治理效应、实现机制及政策优化研究"(项目编号:2022Z001) （项目编号:2022Z001）
