摘要
本文选取2011—2020年中国62家商业银行年度数据,构建面板回归模型考察跨境资本流动对银行流动性创造的影响及其作用机制。研究表明,跨境资本流动对银行流动性创造有促进作用,该结论在实施一系列稳健性检验后依然成立。相对于国有银行与股份制银行,跨境资本流动对城农商行流动性创造的促进作用更大。跨境资本流动主要通过缩窄银行存贷利差渠道来促进银行的流动性创造,“跨境资本流动-存贷利差-银行流动性创造”的传导渠道有效。经济政策不确定性与国际金融环境不确定性的上升均会加剧跨境资本流动对银行流动性创造的促进作用。该成果将为提升跨境资本监管效率及防控流动性创造维度的银行业系统性风险提供重要的理论指导与决策参考。
This paper selects the annual data of 62 commercial banks in China from 2011 to 2020 and constructs panel regression model to empirically analyze the impact of cross-border capital flows on bank liquidity creation and its mechanism.The research shows that:Cross-border capital flows can promote bank liquidity creation,and this conclusion is still valid after a series of robustness tests.Compared with state-owned banks and joint-stock banks,cross-border capital flow has a greater impact on the liquidity creation of urban rural commercial banks.Cross-border capital flows mainly promotes bank liquidity creation by narrowing the deposit-loan spread channel,thus the transmission channel of"cross-border capital flow-deposit and loan spread-bank liquidity creation"is effective.The increase of the uncertainty of economic policies and the uncertainty of the international financial environment will both intensify the promoting effect of cross-border capital flows on the creation of bank liquidity.The conclusion will provide important theoretical guidance and decision-making reference for both improving the efficiency of cross-border capital supervision and preventing and controlling the systemic risks of the banking industry in the dimension of liquidity creation.
作者
顾海峰
刘梦瑶
孙文萱
Gu Haifeng;Liu Mengyao;Sun Wenxuan
出处
《财经科学》
CSSCI
北大核心
2023年第8期17-32,共16页
Finance & Economics
基金
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”(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”(2022Z001)的资助。
关键词
跨境资本流动
银行流动性创造
存贷利差
经济政策不确定性
Cross-border Capital Flows
Liquidity Creation
Deposit and Loan Spreads
Uncertainty of Economic Policies
