政策变化、财政压力与银行信贷资源配置效率——来自中国城市商业银行的研究证据

Policy Change,Fiscal Pressure and Efficiency of Bank Credit Resource Allocation——Research Evidence from China's Urban Commercial Banks

本文实证考察了政策变化与财政压力对中国城市商业银行信贷资源配置效率的影响。研究表明:地方官员变更引起的政策变化会增大城市商业银行投向地方国有经济部门的贷款比率;且地区财政压力会强化二者之间的正相关关系;城市商业银行的业绩与此类贷款比率负相关,且政策变化和财政压力均会加剧这种负相关关系;银行所处外部环境的市场化程度及银行的上市行为均可有效减少地方政府的干预。

This paper empirically examines the impacts of policy change and fiscal pressure on the efficiency of credit resource allocation of China's urban commercial banks.The results of the research show that the policy change caused by the change of local officials increases the ratio of the loans of urban commercial banks in local state-owned economic sectors,and the local fiscal pressure strengthens the positive correlation between the two;the performance of urban commercial banks is negatively correlated with the ratio,and policy change and fiscal pressure aggravate this negative correlation;the degree of marketization of bank's external environment and the bank's listing can effectively reduce the intervention of local governments.