| 贷款结构视角下我国货币政策信贷传导机制的有效性 |
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| 引用本文： | 钟永红,李政.贷款结构视角下我国货币政策信贷传导机制的有效性[J].金融理论与实践,2009(2). |
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| 作者姓名： | 钟永红 李政 |
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| 作者单位： | 1. 华南理工大学,经济与贸易学院,广东,广州,510006
2. 广东商学院,金融学院,广东,广州,510320 |
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| 摘 要： | 我国金融体系是银行主导型,银行贷款仍然是企业最主要的资金来源,信贷市场是我国货币政策传导的主要渠道.本文应用1997年至2008年第二季度的季度数据,基于SVAR方法,比较分析了货币政策工具利率调整和实际经济变化对不同种类银行贷款的冲击.研究结果显示:利率上调会降低消费性贷款的增速,而工商业贷款和中长期贷款的变化受利率上调的影响不大,本文对工商业贷款和中长期贷款在紧缩性货币政策下上涨的原因进行了解释.
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| 关 键 词： | 货币政策 信贷传导 贷款种类 |
Effectiveness of Credit Transmission Mechanism of Monetary Policy in China from the Loan Structure Perspective |
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| Zhong Yong-hong,Li Zheng.Effectiveness of Credit Transmission Mechanism of Monetary Policy in China from the Loan Structure Perspective[J].Financial Theory and Practice,2009(2). |
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| Authors: | Zhong Yong-hong Li Zheng |
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| Institution: | Zhong Yong-hong,Li Zheng |
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| Abstract: | The financial system of China is bank-oriented,and bank loans are the main financing sources for enterprises,so credit market is the main transmission channel of monetary policy.This paper investigates the impacts of tightening monetary policy and real economic shocks to different types of bank loans using quarterly data from 1st quarter of 1997 to 2nd quarter of 2008 with the application of SVAR.The study results show that the consumer loans decrease,while commercial and industrial(CI) loans and medium-and... |
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| Keywords: | SVAR |
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