摘要
采用中国13家商业银行2007~2012年的年度面板数据,运用动态面板数据模型,实证研究中国商业银行信用卡业务对货币供给以及货币供给对银行信贷投放的影响。结果表明,中国商业银行信用卡业务的扩大经营会显著抑制货币供给量的增长,而货币供给量的增长则会显著引起中国商业银行信贷投放的增加。同时,以商业银行资本充足率作为其风险代理指标对模型进行再检验,结果显示模型的稳定性较好。因此,从金融稳定的角度出发,中央银行以货币供应量作为货币政策中介目标对货币市场进行调控时,应充分考虑到信用卡业务的发展规模,商业银行的信贷投放行为也应以货币供给为参考依据。
By adopting dynamic panel data model,the paper analyzes the annual panel data( 2007- 2012) of China's thirteen commercial banks to find the impact that credit card business having on money supply and that money supply having on credit supply. The results show that the expansion of credit card business can significantly inhibit the growth of the money supply,while the increase of money supply can significantly promote the credit supply. The model's reliability is further tested by using the CAR. The results also suggest that the central bank should take the credit card business into consideration when it regulates the money market by using the money supply as the intermediary of monetary policy,and commercial banks should also take money supply as a reference when offering credit supply.
出处
《金融经济学研究》
CSSCI
北大核心
2015年第1期23-33,共11页
Financial Economics Research
基金
教育部创新团队项目(IRT1176)
西北农林科技大学人文社会科学项目(2012RWZX02)
关键词
信用卡业务
货币供给
信贷投放
商业银行
credit card business
money supply
supply of credit
commercial banks
