摘要
本文从金融地理学角度出发,通过建立空间面板数据模型,利用空间探索分析技术对我国信贷投放区域效应产生的原因进行了实证分析。结果表明,地理空间效应对国内区域信贷投放影响显著,其中江苏、辽宁、黑龙江受空间因素影响最大,而北京、西藏、天津受地理因素影响相对较小,地理上相邻地区的贷款供给存在显著的相互作用。我国区域信贷投放表现出区域聚集和地域依赖的特征,加之商业银行微观行为造成的非理性后果,导致货币政策的执行效果存在明显的区域差异,削弱了货币政策执行的有效性。
Based on the financial geography,the paper utilizes spatial auto-regression model with panel data and explorato- ry spatial data analysis to empirically analyze the factors that result in the regional effects of credit supply in China. The re- suits show that the geographic characteristics significantly impact regional credit supply. In detail, three provinces of Jiangsu, Liaoning and Heilongjiang are affected most significantly, and the impacts of geographic factors on Beijing, Tibet and Tianjin are relatively weak. There is significant interaction of credit supply among geographically adjacent regions. Regional credit supply in China is characterized by regional concentration and geographic dependence. Such characteristics, combining with the inational consequences resulted from micro-behaviors of commercial banks, lead to distinctive regional differences in effects of monetary policy and weaken the validity of monetary policy.
出处
《金融论坛》
CSSCI
北大核心
2009年第6期42-47,共6页
Finance Forum
基金
国家博士后科研基金(项目编号:20080430505)
关键词
金融地理
区域效应
信贷供给
空间回归
延迟变量
financial geography
regional effect
credit supply
spatial regression
lagged variable
