当前中国商业银行流动性过剩的成因及政策建议

现有的对流动性过剩原因分析多数是从定性的角度进行.事实上,商业银行流动性过剩成因复杂,必须从宏观和微观两个层面上选取具有代表性的因素加以实证分析才能得到令人信服的结论.由实证分析结果可知,我国商业银行流动性过剩是多种因素造成的,包括宏观上的外汇占款过大、居民储蓄率过高等,也包括微观上的金融市场结构不合理、直接融资相对份额不高、商业银行在经营上过于依赖存贷业务等.因此,既要改革汇率形成机制,适当抑制出口,同时也要完善社会保障机制,促进消费.

The Causes of Excess Liquidity in Chinese Commercial Banks

Up to now,most of studies analyze the causes of excess Liquidity from the qualitative perspective. Actually,the causes inducing the excess liquidity in commercial banks are so complicated that to attain a credible conclusion needs a precise empirical analysis by selecting representative factors from both macroeconomic and microeconomic level. The conclusion indicates that a variety of factors jointly give rise to Chinese commercial banks' excess liquidity. The affecting factors from the macro perspective in...