资产价格波动与银行信贷关系的实证分析

Empirical analysis about the relationship between asset price fluctuation and bank credit

银行信贷对整个经济运行有着深远的影响,并受到资产价格波动的影响。文章构建合理的指标模型,分析我国资产价格波动与银行信贷之间的关系。结果显示,资产价格与银行信贷存在相互影响。由于政策原因,央行放弃对股票市场的选择性控制,股票市场价格波动对银行信贷不具有调节作用,银行信贷主要受房地产市场价格波动的影响。

Bank credit is impacted by asset price fluctuation and has a profound influence to the whole economic system.In this paper, we constructed a reasonable index model and analyzed the relationship between asset price fluctuation and bank credit in China.The results showed that the asset price and bank credit exist mutual influence.Due to the policy reasons,the central bank give up the control power of the stock market, stock market price does not influence bank credit scale, and bank credit is mainly affected by the asset price fluctuations in the real estate market.