Abstract:
Based on the construction of Cournot model in which banking structure affects transmission efficiency of bank lending channel of monetary policy, by selecting the 5 large state-owned commercial banks, 12 joint-stock commercial banks and 105 city commercial banks, a total of 13 years of the unbalanced panel data from 2000 to 2012, and using the individual fixed effects empirical analysis, we get the following basic conclusion: the competitive banking structure is conducive to improve the transmission efficiency of bank lending channel of monetary policy. Moreover, the use of different banking structure indicators and system GMM estimation of expanded dynamic empirical model ensures the robustness of the empirical results.
董华平, 干杏娣. 我国货币政策银行贷款渠道传导效率研究——基于银行业结构的古诺模型[J]. 金融研究, 2015, 424(10): 48-63.
DONG Huaping, GAN Xingdi. Research on the Transmission Efficiency of China’s Monetary Policy through Bank Lending Channel:Based on Cournot Model of Banking Structure. Journal of Financial Research, 2015, 424(10): 48-63.
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