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伟德betvlctor1946双周论坛系列通知(第 46 期)
发布日期:2015/09/23 点击量:

时间:2015/09/25900-1100地点:伟德betvlctor1946一楼院史馆主讲人:刘岩 YanLiu

主讲题目:State Ownership and Bank Lending Channel ofMonetary Policy: Theory and Evidence fromChina

主讲人介绍:刘岩于2014年在纽约州立大学石溪分校获得经济学博 士学位,并且在2014年加入武汉大学金融系,受聘为AssistantProfessor。刘岩博士在金融发展、宏观经济管理等领域有很深的造诣和学识2014年获得MartyWeinbaumAwardforExcellent Research

内容简介:Countercyclical bank lending behavior is a widespread phenomena across the world where state bank ownership is sizable.Based on a classic banking model under asymmetric information, we incorporate different preferences of state and private shareholdersthrough Nash bargaining, and investigate the joint impact of monetary policyand stateownershiponbanklendingdecisions.Theoreticallyweshowthat state ownership affects bank lending channel of monetary policy:a monetary stimulus reduces bank lending rates, boosts credit growth,and increases non-performing loans, to a greater extent for banks withhigher state ownership. Based on a hand collected panel dataset onownership structure of 93 Chinese banks, covering most city commercial banks,over 2005-2014, we confirm the theoretic implications of the model. Assuch, we provide further insight on the countercyclicality of banklending behavior.

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