银行集中度对银行风险影响的研究综述

从全球金融危机对金融体系的冲击带来的巨大成本来看,保证金融体系稳定一直是国家宏观调控的重要目标之一.其中银行业稳定是一个国家或地区的金融体系整体保持稳定,各个要素之间保持相对稳定的关键因素.所以对银行风险和危机的研究对于保证整个金融系统的稳定就显得十分重要.现针对“银行集中度对银行风险影响”对国内外研究进行了综述,并简要评述.     

拉丁美洲金融危机频繁爆发的根源探析

一、金融危机内涵的界定 金融危机一般指金融体系出现严重困难．绝大部分金融指标急剧恶化．各类金融资产价格暴跌．金融机构大量破产。它又可以分为货币危机、债务危机、银行危机等类型．在一些情形下，金融危机也会呈现出某种混合形式的危机。     

金融危机隐忧下的银行信贷发展探究

2007年8月金融危机爆发之后,我国银行体系的信贷业务也受到了重创;银行信贷传导渠道是危机过程当中重要的传导机制之一,在目前金融危机已经朝向经济危机转化的大背景下,我国银行的信贷业务活动的发展如何能够促进金融体系的健康稳定,并保持银行本身业务的流动性、盈利性、安全性是本文研究的主要问题。     

银行危机税

概念解读 银行危机税——俗称“金融危机责任费”,是各国政府为应对未来危机,维持金融体系稳定,向银行业征收的用以建立“危机应对援助基金”的新税种。     

从治理结构缺陷透析上市公司道德风险

道德风险(Moral hazard)一般指代理人在签约后隐藏行动的自利行为。中国证券市场从建立一开始,股市就不断跌宕起伏,期间伴随着各种违规违法行为。尤其从2001年开始,股票市场进入“漫漫严冬”,股市没有理性地习惯性下跌,股市环境非常恶劣。作为证券市场基石的上市公司,也发生了形式多样的道德风险行为(详见附表)证监会(交易所)处罚的上市公司违法违规行为,这也是导致中国证券市场持续低迷的根本原因之一。     

也谈金融危机对我国经济的影响

美国次贷危机已经通过信用体系的连锁反应演变为一场金融危机,严重损害了美国金融体系和实体经济的稳定性.本文重点从金融市场和出口贸易方面分析次贷危机对中国经济的影响,进而提出为应对此次金融危机,中国所采取相应措施.     

如何解决“太大不能倒”？

欧美程金融危机后的银行业改革,依然回避了“太大不能倒”这一问题的本质,其核心在于混业经营加剧了金融体系的道德风险——综合银行的商业银行部门吸收公众存款,并得到政府公开或隐含的担保,     

证券投资基金持股行为影响股价波动分析

在美国次贷危机引发的全球性金融危机的背景下,我国的证券市场也同样面临着非常严峻的考验,而作为我国证券市场上最为重要的机构投资者之一的证券投资基金其持股行为对股价的影响也将日益显现。以股票型基金为研究对象,通过实证研究其对股票价格的波动影响。     

金融开放背景下银行稳定的新内涵

近年来频繁发生的金融危机给世界经济带来了巨大冲击,许多国家出现了银行倒闭的现象,再次警示了保持银行稳定对维护金融体系稳定与安全的极端重要性.在金融开放背景下,要根据新变化、新因素、新形势理解银行稳定的内涵.银行稳定指金融开放背景下,银行业具有持续的清偿能力,既能抵御和控制来自银行内部的风险,又能在面临外部危机传染与信息迅速传播扩散时,适时调整,避免和防范银行危机发生,保持正常运行与发展的状态.银行稳定并不是静止和一成不变的,而是具有动态、发展的特征;银行稳定并不意味着没有风险,风险是客观存在的;在强调银行稳定运行的同时,也要重视银行的运营效率.此外,为更好地理解银行稳定问题,还要认清银行危机、银行风险与银行稳定之间的区别与联系.     

由全球金融危机引发的思考

由美国次级抵押贷款问题引发的次贷危机已经演化成为大萧条以来最严重的全球性金融危机,其贞面冲击已经远远超过1987年美国储贷危机、20世纪90年代北欧银行危机、20世纪90年代日本股市泡沫和1997年东亚金融危机.金融危机发生在全球金融体系的核心地带,并向全球各个经济体广泛扩散,对房地产市场、信贷市场、金融部门乃至实体经济部门都造成严重的冲击.国际金融危机是全球经济大灾难,为了能尽量减少灾难中的损失,并从经历的灾难中获得启示,对正在经历的灾难有全面深刻的了解就显得非常重要.     

论全球金融危机对韩国的影响

金球金融危机对韩国的影响,主要是对韩国经济和金融市场的影响,具体表现在韩国股市、汇市下跌速度明显加快.韩国经济战缓等方面.虽然韩国政府采取了诸如干预汇市,支持股市,援助银行业,刺激经济计划、央行减息等一些列救援措施,但从总体上看,如果2009年上半年全球金融危机没有得到显著缓解,韩国经济将继续面对国内需求严重萎缩以及出口急速下降的双重打击.韩元的疲软走势将持续,可能导致其国内经济大幅下滑.     

系统性金融风险的度量及其时变经济效应研究

基于TVP-SV-SVAR模型，分析六个不同金融子市场风险对实体经济的实时冲击效应，结合时变脉冲响应方法构建了动态权重系统性金融风险综合指数，并区分高低风险状态探讨其对实体经济的影响。结果表明，银行部门、股票市场和外部金融市场对系统性金融风险的贡献较大；基于对实体经济冲击视角的动态权重系统性金融风险综合指数与样本期内实际金融经济事件的发展趋势一致；不同状态下系统性金融风险对经济增长的冲击效应不同：短期来看，高风险点系统性金融风险抑制经济增长，低风险点系统性金融风险促进经济增长；长期来看，系统性金融风险在高低状态下对经济增长均有负向冲击效应。研究结论对于防范和化解系统性金融风险的宏观审慎政策制定具有重要的参考意义。     

浅析俄罗斯当前的金融危机

金融危机的影响正在俄罗斯蔓延,涉及到俄罗斯经济的方方面面,主要表现在:银行体系资金不足、卢布持续贬值、股市大跌、外汇储备减少。这使油气行业、工业生产、建筑业饱受冲击,造成失业人数大幅度增加,拖欠工资现象严重。俄罗斯政府凭借本国优势,积极采取政府向金融市场大量注资,支持实体经济,修改政府财政预算,减少政府支出等措施应对危机。     

Economic growth,financial market,and twin crises

In this study, we look not only to provide empirical evidence to investigate the direct impact of financial crises on economic growth, but also to examine the roles of insurance development, financial liberalization, financial institution, and crisis intervention policies on the relationship between the two. We employ a panel data framework from 50 countries by applying the dynamic panel generalized method of moments model. Our main empirical results show that financial crises do have a significantly negative impact on economic growth. In addition, governments or authorities are encouraged to further enhance their insurance sector in order to help spur economic growth when financial crises arise. The government intervention policy choice is also an important factor influencing economic growth during crises.     

Timeline of a financial crisis: Introduction to the special issue

The economic crisis fueled by risky mortgages and the exotic financial instruments developed from bundling these mortgages caused the largest one-day losses on the US stock market in history (BBC News, 2009a). The resulting financial collapse quickly spread throughout the world, causing economic recessions in much of the EU, Turkey, and many other countries. Since 2008, economists, government agencies, and academics pondered the causes of the financial crisis with an eye toward avoiding such catastrophic collapse in the future. This special issue contributes to the discussion by bringing together academics from marketing, finance, and economics to put the financial crisis into theoretical perspective and propose theoretically viable alternatives to avoid similar economic downturns in the future.     

Banks,Stock Market Development and Economic Growth in Kenya: An Empirical Investigation

In this paper, we have examined the impact of both bank- and market-based financial development on economic growth in Kenya during the period 1980 to 2012, using the autoregressive distributed lag bounds testing approach. To capture as far as possible the breadth and depth of the Kenyan bank- and market-based financial systems, the study employs the method of means-removed average to construct both bank- and market-based financial development indices from an array of banking sector and stock market variables. The empirical results of this study show that market-based financial development has a positive impact on economic growth in Kenya. However, the results have also shown that bank-based financial development has no impact on economic growth in the study country. These results apply irrespective of whether the regression analysis is conducted in the long run or in the short run. The findings of this study, therefore, lend more support to pro-market-based financial development policies in Kenya.     

The Impact of the Recession on Competition Policy: Amending the Economic Constitution?

The strengths of the European competition regime are outlined before identifying challenges presented by the financial crisis. The argument moves from enforcement to systemic threats to the credibility of the economic models on which modern competition policy is based. It then turns from banking failures to the crisis in the European motor industry. It suggests that competition policy comprises an ‘economic constitution’ for the EU which is under threat, but registers the relative complacency of the competition agencies, and argues for a redefinition of policy. The conclusion suggests that the regulatory relationship between the state and the private sector will reflect scepticism about the market and that political changes in the UK and Europe offer radical choices between a reinforced or a marginalised competition policy which the competition policy ‘community’ needs to confront.     

金融危机应对政策的有效性:基于40起事件的实证研究

本文以20世纪80年代以来世界范围内40次重要的系统性银行危机为基础,对金融危机后常见的15种应对措施进行了系统的实证评价.结果表明,系统性银行危机发生后,大规模政府干预、流动性支持(紧急贷款)、重新资本化、银行关闭和兼并是使用频率最高的5项措施,但大规模政府干预和流动性支持往往伴随着较高的财政成本,而重新资本化和兼并则分别伴随着危机持续时间的延长和产出损失的上升.一揽子担保计划虽有助于提高危机期间的经济增长率,但危机后的经济增长却相对较低.国有化措施不仅会产生较高的财政成本,通常还伴随着较高的产出损失.存款人承担损失和IMF援助这两种措施有助于缩短危机持续时间,但IMF援助通常伴随着较高的财政成本和危机期间较低的经济增长率.     

后危机时代的经济治理机制创新:市场与政府有效融合

市场的功能与政府的作用是经济学界长期争论的焦点问题之一,不同的经济学派观点对应不同的经济治理模式.市场和政府既各自发挥作用同时又存在失灵,经济治理机制的创新就是要在合理的边界将二者有效融合,“中国模式”的成就和金融海啸的爆发从正反两方面验证了现代市场经济应该是市场与政府两只手的有机结合.后危机时代经济治理机制的创新路径选择必须从以下方面入手:市场是配置资源的基础性手段,政府的作用应该体现在对经济运行的控制力上,同时必须明确界定政府权力的边界.     

Financial integration and banking crisis. A critical analysis of restrictions on capital flows

We investigate the effect of financial integration on a banking crisis. In contrast to existing works, we allow for capital restrictions while studying the impact of financial integration on a banking crisis. Using firm-level lending and borrowing information in the global market of syndicated loans; we generate aggregate measures of financial integration and examine how countries with capital flow restrictions thrive in the wake of a banking crisis. We concentrate on basic network measures of integration for a panel of 62 countries that allow for capital restriction at any time within the sample period. Financial integration increases the incidence of a banking crisis, and capital restrictions worsen a banking crisis. However, capital restrictions reduce the negative impact of financial integration on the incidence of a banking crisis. Thus, financial integration becomes beneficial when countries allow for some forms of capital control.