银行业过度集中会损害货币政策效果的探讨

Study of credit channels based on the monetary policy

以银行业集中度作为银行业结构的代理变量,分析了我国银行业结构对货币政策传导的特殊意义.运用我国14家商业银行在1997—2007年间的面板数据,考察了银行业结构对货币政策的影响.研究结果表明:我国银行业集中度的下降提高了我国货币政策的传导效率,信贷资产过于集中于国有银行是我国货币政策效果不明显的原因,中小股份制银行贷款份额的上升能显著提高货币政策的有效性.

Based on the structure of banking concentration as the proxy variable,this paper analyses the special significance in monetary policy transmission caused by the structure of Chinese banking.It uses the panel data from 1997-2007 of China’s 14 commercial banks,and inspects the influence in the structure of banking in monetary policy.The study results show that the decline of China’s banking concentration improved the transmission efficiency of our monetary policy.The credit asset of state-owned banks is over concentrated,which impaired the effect of China’s monetary policy.The rising of the loans of small and medium-sized joint-stock banks can significantly improve the effectiveness of monetary policy.