货币政策对银行风险承担渠道问题研究

Research on the Impact of Monetary Policy on Bank Risk-taking

本文利用16家上市银行2007年-2016年的数据,对我国货币政策银行风险承担渠道的存在性及其作用机理进行实证研究。研究表明:货币政策工具能够对我国商业银行风险承担产生显著影响,且商业银行风险承担的变化对信贷投放总量以及社会总产出也会造成影响。同时,风险定价效应、追逐利益效应、习惯效应、杠杆效应作为我国货币政策银行风险承担渠道的重要作用机制,在货币政策传导中发挥着重要作用。最后,本文对商业银行更有效地使用货币政策工具进行风险管理提出相应的建议。

This paper conducted an empirical study on the existence and mechanism of the risk-taking channels of China＇s monetary policy banks based on the data of 16 listed banks from 2007 to 2016.The results show that the monetary policy tools have a significant impact on the risk-taking behavior of commercial banks,and the change of risk-taking behavior will affect the total amount of credit and the total output.At the same time, risk pricing effect, chasing interest effect, habit effect and leverage effect should be regarded as the important mechanism of risk undertaking channel of monetary policy banks in China, and play an important role in the transmission of monetary policy. Finally, this paper puts forward some suggestions for commercial banks to use monetary policy tools more effectively for risk management.