银行业资管业务发展与实体经济融资关系研究

Research on the Relationship Between Banking Asset Management Business Development and Real Economy Financing

本文以银行业理财产品作为资管行业发展的代表性指标,对山东省银行业理财募集金额与社会融资规模数据进行分析发现:二者变动具有相关性,且社会融资规模指标具有先行性;企业债券融资与理财增长关联性更强;间接融资与理财增长之间呈现周期性反向关联性等。据此提出减少资管产品嵌套层级、合理把控资管资金行业流向等政策建议。

This paper analyzes the amount of money raised by the banking industry in Shandong Province and the data of social financing scale by using the banking wealth management products as a representative indicator of the development of the asset management industry. The results show that the changes between the two are correlated,and the indicators of social financing scale are preemptive;the relationship between corporate bond financing and financial management growth is stronger;the relationship between indirect financing and wealth management growth is periodic reverse correlation. Accordingly,some policy suggestions are put forward,such as reducing the nested level of capital management products and rationally controlling the flow of capital industry.