金融开放、银行关联度与我国银行系统性风险

Financial Openness,Bank Interconnection and China’s Bank Systemic Risk

后疫情时代,我国银行系统性风险上行压力加大,金融开放面临新挑战。在此背景下,基于2010—2020年我国34家上市银行季度数据,实证检验金融开放对银行系统性风险的影响,研究发现:第一,金融开放通过资产价格渠道和竞争渠道加剧银行系统性风险,金融开放度每增加1个单位,将造成银行系统性风险上升0.080个单位;第二,银行间资产负债关联度增加会进一步强化金融开放的“风险效应”;第三,金融开放对银行系统性风险的影响存在异质性,对于大规模、低盈利及国有商业银行,金融开放的“风险效应”更强。因此,政府部门应审慎推进金融开放,同时密切关注银行关联度变化并采取差异化风险防范措施以维护我国银行体系稳定。

In the post-epidemic era,upward pressure on China’s bank systemic risk increased,and financial openness is facing challenge.Against this background,based on the quarterly data of 34 China’s listed banks from 2010 to 2020,this paper empirically tests the impact of financial openness on bank systemic risk and finds that,firstly,financial openness exacerbates the bank systemic risk through asset price channel and competition channel.Every 1 unit increase in financial openness will cause 0.080 unit increase in the bank systemic risk.Secondly,the increase of inter-bank asset and liability interconnection further aggravate the risk effect of financial openness.Thirdly,the influence of financial openness on the bank systemic risk is heterogeneous.For banks with large scale,low profitability and state ow nership structure,the risk effect of financial openness is greater.Therefore,the government is supposed to prudently promote financial openness,pay close attention to the changes of bank interconnection and take differentiated risk prevention measures to maintain stability of the China’s banking system.