【摘要】：政策性銀行作為財(cái)政投融資機(jī)構(gòu),是財(cái)政政策與貨幣政策協(xié)調(diào)框架內(nèi)政府干預(yù)經(jīng)濟(jì)的重要手段,是金融形式的特殊財(cái)政活動(dòng)。經(jīng)過(guò)30多年改革開(kāi)放和高速發(fā)展,我國(guó)經(jīng)濟(jì)發(fā)展進(jìn)入轉(zhuǎn)型升級(jí)階段,政策性銀行如何更好地促進(jìn)經(jīng)濟(jì)發(fā)展和轉(zhuǎn)型升級(jí),成為我國(guó)財(cái)政金融領(lǐng)域一個(gè)重要課題。本文研究遵循提出問(wèn)題、分析問(wèn)題、解決問(wèn)題的邏輯展開(kāi)。提出問(wèn)題之后,首先分析了政策性銀行存在的理論基礎(chǔ),探討了政策性銀行產(chǎn)生、發(fā)揮作用和轉(zhuǎn)型的理論分析框架。接著,分析了政策性銀行轉(zhuǎn)型的初始狀態(tài),以及經(jīng)濟(jì)新常態(tài)和金融結(jié)構(gòu)問(wèn)題對(duì)政策性銀行轉(zhuǎn)型的約束。然后,運(yùn)用數(shù)據(jù)包絡(luò)分析方法(DEA)分析比較了政策性銀行技術(shù)效率,并進(jìn)一步構(gòu)建計(jì)量經(jīng)濟(jì)模型實(shí)證分析證明:政策性銀行全要素生產(chǎn)率受到了金融結(jié)構(gòu)發(fā)展程度、資本形成額增速、經(jīng)濟(jì)建設(shè)支出占財(cái)政支出比重、金融深化程度M2/GDP、GDP增長(zhǎng)率等宏觀因素和貸款規(guī)模、資本充足率、銀行技術(shù)效率等微觀因素顯著影響,為轉(zhuǎn)型決策提供了定量分析依據(jù)。最后,基于政策性銀行初始狀態(tài)、約束條件和效率實(shí)證分析,總結(jié)了政策性銀行轉(zhuǎn)型動(dòng)因,提出了轉(zhuǎn)型思路、目標(biāo)模式和路徑。論文分為7章。第1章是緒論。本章從政策性銀行轉(zhuǎn)型背景出發(fā),提出了研究主題和研究意義,并界定了相關(guān)概念。從財(cái)政投融資、政策性銀行轉(zhuǎn)型、銀行效率等方面梳理前人研究文獻(xiàn),分析了政策性銀行轉(zhuǎn)型有關(guān)問(wèn)題前沿成果。然后提出了研究方法、研究?jī)?nèi)容、研究結(jié)構(gòu),總結(jié)了主要?jiǎng)?chuàng)新與不足。第2章介紹了政策性銀行轉(zhuǎn)型的理論框架。本章首先根據(jù)經(jīng)濟(jì)學(xué)、金融學(xué)、制度經(jīng)濟(jì)學(xué)、發(fā)展經(jīng)濟(jì)學(xué)等理論分析了政策性銀行存在的理論基礎(chǔ)。接著,運(yùn)用IS-LM模型分析政策性銀行在財(cái)政政策、貨幣政策協(xié)調(diào)框架內(nèi)的經(jīng)濟(jì)效應(yīng)和作用機(jī)理,分析了政策性銀行作為財(cái)政投融資在金融結(jié)構(gòu)中地位的決定因素。然后,分析了政策性銀行轉(zhuǎn)型的理論基礎(chǔ),并提出了政策性銀行轉(zhuǎn)型中績(jī)效評(píng)價(jià)的指標(biāo)。從而從理論上形成一個(gè)政策性銀行產(chǎn)生、發(fā)揮作用、轉(zhuǎn)型的分析框架。第3章分析中國(guó)政策性銀行轉(zhuǎn)型的初始條件。本章對(duì)政策性銀行發(fā)展歷程、在金融結(jié)構(gòu)中的地位進(jìn)行了分析,對(duì)政策性銀行盈利能力、風(fēng)險(xiǎn)管理能力和資本管理能力進(jìn)行了對(duì)比分析,總結(jié)了政策性銀行轉(zhuǎn)型的初始狀態(tài)。第4章分析中國(guó)政策性銀行轉(zhuǎn)型的約束條件。本章首先分析了經(jīng)濟(jì)新常態(tài)下政策性銀行外部經(jīng)濟(jì)環(huán)境變化;然后分析了中國(guó)金融結(jié)構(gòu)與經(jīng)濟(jì)結(jié)構(gòu)的適應(yīng)性,運(yùn)用戈德史密斯金融結(jié)構(gòu)理論對(duì)中國(guó)金融結(jié)構(gòu)發(fā)展水平進(jìn)行了研究,并與國(guó)際進(jìn)行了比較研究,分析了中國(guó)金融結(jié)構(gòu)存在的問(wèn)題;最后分析了經(jīng)濟(jì)與金融環(huán)境對(duì)政策性銀行轉(zhuǎn)型的約束作用。第5章實(shí)證分析中國(guó)政策性銀行效率及影響因素。本章首先基于數(shù)據(jù)包絡(luò)分析方法(DEA)建立了政策性銀行技術(shù)效率分析模型,對(duì)政策性銀行技術(shù)效率進(jìn)行了比較分析。接著,構(gòu)建面板數(shù)據(jù),運(yùn)用DEA-Malmquist指數(shù)方法分析了政策性銀行全要素生產(chǎn)率變化,并以DEA-Malmquist模型計(jì)算得出的全要素生產(chǎn)率(TFP)指數(shù)作為被解釋變量,以影響全要素生產(chǎn)率的宏觀和微觀因素為解釋變量,構(gòu)建計(jì)量經(jīng)濟(jì)模型對(duì)政策性銀行全要素生產(chǎn)率的影響因素進(jìn)行了實(shí)證分析。第6章總結(jié)國(guó)外政策性銀行轉(zhuǎn)型經(jīng)驗(yàn)。本章在系統(tǒng)梳理國(guó)外政策性銀行發(fā)展和運(yùn)行情況基礎(chǔ)上,分析了國(guó)外政策性銀行發(fā)展趨勢(shì),并對(duì)德國(guó)、日本、韓國(guó)代表性政策性銀行轉(zhuǎn)型經(jīng)驗(yàn)進(jìn)行了剖析和總結(jié)。第7章提出中國(guó)政策性銀行轉(zhuǎn)型目標(biāo)模式與路徑選擇。本章首先總結(jié)了政策性銀行轉(zhuǎn)型動(dòng)因,并基于政策性銀行初始條件、外部經(jīng)濟(jì)環(huán)境變化、金融結(jié)構(gòu)對(duì)轉(zhuǎn)型的影響和銀行效率實(shí)證分析,提出了政策性銀行轉(zhuǎn)型總體思路。然后,結(jié)合國(guó)際政策性銀行轉(zhuǎn)型經(jīng)驗(yàn),探討了政策性銀行轉(zhuǎn)型目標(biāo)。最后,基于轉(zhuǎn)型總體思路和目標(biāo),提出我國(guó)政策性銀行轉(zhuǎn)型可行路徑。本文主要研究結(jié)論可以概括為三個(gè)方面:一是基于戈德史密斯金融結(jié)構(gòu)理論分析我國(guó)金融相關(guān)系數(shù)已達(dá)399%,金融結(jié)構(gòu)發(fā)展總體程度合理。中國(guó)金融領(lǐng)域的問(wèn)題不是總量問(wèn)題,而是結(jié)構(gòu)問(wèn)題,需要政策性銀行發(fā)揮定量、定向金融工具的作用。二是經(jīng)濟(jì)金融環(huán)境對(duì)策性銀行轉(zhuǎn)型的約束作用,主要表現(xiàn)在政治約束、各項(xiàng)改革互補(bǔ)性約束及其與發(fā)展模式制約、風(fēng)險(xiǎn)因素制約、競(jìng)爭(zhēng)環(huán)境制約影響而導(dǎo)致轉(zhuǎn)型結(jié)果的總和不確定性。三是構(gòu)建計(jì)量經(jīng)濟(jì)模型實(shí)證分析表明:金融相關(guān)系數(shù)、M2/GDP對(duì)政策性銀行全要素生產(chǎn)率提升有負(fù)效應(yīng),而擴(kuò)張財(cái)政政策對(duì)政策性銀行信貸投放與效率提升有促進(jìn)作用。從宏觀經(jīng)濟(jì)看,政策性銀行逆周期調(diào)節(jié)作用,主要表現(xiàn)為逆投資周期調(diào)節(jié)作用,而不是逆GDP增長(zhǎng)周期。在投資下滑期,資本形成額增速下降引致政策性銀行全要素生產(chǎn)率提升。從微觀因素看,擴(kuò)大貸款規(guī)模和提升銀行管理水平對(duì)提升政策性銀行全要素生產(chǎn)率都有正效應(yīng)。本文在分析中國(guó)實(shí)際和國(guó)際經(jīng)驗(yàn)基礎(chǔ)上,提出的主要政策建議:一是在轉(zhuǎn)型總體思路上,政策性銀行轉(zhuǎn)型應(yīng)以提升全要素生產(chǎn)率為核心,并要符合國(guó)家經(jīng)濟(jì)發(fā)展階段和國(guó)家戰(zhàn)略的特殊性要求。政策性銀行轉(zhuǎn)型要從引領(lǐng)、補(bǔ)充整個(gè)國(guó)家金融產(chǎn)業(yè)的角度出發(fā),體現(xiàn)創(chuàng)新驅(qū)動(dòng),發(fā)揮開(kāi)發(fā)市場(chǎng)、建設(shè)市場(chǎng)的作用。二是在轉(zhuǎn)型目標(biāo)模式上,從機(jī)構(gòu)功能和業(yè)務(wù)分類的政策性、經(jīng)營(yíng)目標(biāo)明確的市場(chǎng)化運(yùn)作機(jī)制、建立有協(xié)同優(yōu)勢(shì)的綜合化經(jīng)營(yíng)體系、在金融結(jié)構(gòu)中發(fā)揮引領(lǐng)性補(bǔ)充作用方面對(duì)轉(zhuǎn)型目標(biāo)進(jìn)行了分析。三是探討了政策性銀行轉(zhuǎn)型路徑,從發(fā)展空間制約下的職能轉(zhuǎn)型、適度規(guī)模條件下推進(jìn)綜合經(jīng)營(yíng)、賦予政策性銀行特許價(jià)值權(quán)、明確政府與政策性銀行的關(guān)系、明確政策性銀行與市場(chǎng)的關(guān)系五個(gè)方面進(jìn)行了探討。
[Abstract]:As a financial investment and financing institution, policy bank is an important means to intervene the economy in the framework of fiscal policy and monetary policy. It is a special financial activity in the form of finance. After 30 years of reform and opening up and rapid development, China's economic development has entered the stage of transformation and upgrading, and how the policy bank can better promote economic development and transfer. Type upgrading has become an important issue in the financial and financial field of our country. This paper studies the logical expansion of problems, analyses and solve problems. After putting forward the questions, this paper first analyzes the theoretical basis of the existence of policy banks, probes into the theoretical analysis framework for the production of policy banks, and gives play to the use and transformation of the policies. Then, the policy is analyzed. The initial state of the transformation of sex banks and the constraints of the new economic normal and financial structure on the transformation of the policy banks. Then, using the data envelopment analysis (DEA) analysis and comparison of the technical efficiency of the policy based banks, and further constructing the econometric model, the empirical analysis shows that the total factor productivity of the policy bank is subject to the financial knot. The development degree, the growth rate of capital formation, the expenditure of economic construction in the proportion of financial expenditure, the macro factors such as the financial deepening degree M2/GDP, the GDP growth rate, the loan scale, the capital adequacy ratio, the bank technical efficiency and so on, provide the quantitative analysis basis for the transformation decision. Finally, the constraints are based on the initial state of the policy bank. This chapter is divided into 7 chapters. The thesis is divided into 7 chapters. The first chapter is the introduction. This chapter, starting from the background of the transition of policy banks, puts forward the research theme and research significance, and defines the relevant concepts. The second chapter introduces the theoretical framework of the transformation of policy based banks. This chapter first is based on economics, finance, institutional economics, and development economics. The theoretical basis of the existence of policy banks is analyzed. Then, the IS-LM model is used to analyze the economic effect and mechanism of policy banks in the framework of fiscal policy and monetary policy coordination, and the determinants of the position of policy banks as financial investment and financing in the financial structure are analyzed. Then, the transformation of policy banks is analyzed. The theoretical basis, and put forward the index of performance evaluation in the policy oriented bank transformation, thus form a policy bank to produce, play the role, the analysis frame of the transformation in theory. The third chapter analyses the initial conditions of the transformation of China's policy bank. The policy banks' profitability, risk management ability and capital management ability are compared and analyzed, and the initial state of policy based banking transformation is summarized. The fourth chapter analyzes the constraints of China's policy based banking transformation. The adaptability of structure and economic structure, using Goldman Smith's financial structure theory to study the development level of China's financial structure, and compared with the international research, analyzed the problems of China's financial structure, and finally analyzed the constraints of the economic and financial environment on the transformation of the policy bank. The fifth chapter is an empirical analysis. In this chapter, based on the data envelopment analysis (DEA), this chapter establishes a policy based bank technical efficiency analysis model, and compares the technical efficiency of the policy bank. Then, the panel data is constructed and the DEA-Malmquist index method is used to analyze the total factor productivity changes of the policy banks. The total factor productivity (TFP) index calculated by the DEA-Malmquist model is interpreted as the explanatory variable and the macro and micro factors that affect the total factor productivity are interpreted as the explanatory variables. The empirical analysis of the influencing factors of the total factor productivity of the policy bank is constructed by the econometric model. The sixth chapter summarizes the experience of foreign policy based banking transformation. On the basis of systematically combing the development and operation of foreign policy banks, this chapter analyzes the development trend of foreign policy banks and analyzes and summarizes the transformation experience of the representative policy banks in Germany, Japan and Korea. The seventh chapter puts forward the model and path selection of China's policy oriented bank transformation. The reasons for the transformation of sex banks are based on the initial conditions of the policy based banks, the changes in the external economic environment, the impact of the financial structure on the transformation and the empirical analysis of the efficiency of the banks. The overall thinking of the policy based banking transformation is put forward. Then, the objective of the policy based banking transformation is discussed with the transition experience of the international policy banks. Finally, the overall thinking of the transformation is based on the overall transformation of the bank. The main conclusions of this paper can be summed up in three aspects: first, based on the theory of Goldman Smith's financial structure, the financial correlation coefficient of China has reached 399%, the overall development of the financial structure is reasonable. The problem of China's financial domain is not the total amount, but the structural problem. It is necessary for policy banks to play the role of quantitative and directional financial instruments. Two is the constraint effect of the transformation of the economic and financial environment, mainly in the political constraints, the complementarity of various reforms and the constraints of the development model, the constraints of the risk factors and the influence of the competitive environment, which lead to the total uncertainty of the transformation results. Three The empirical analysis of the econometric model shows that the financial correlation coefficient, M2/GDP has a negative effect on the promotion of the total factor productivity of policy banks, and the expansion of fiscal policy has a promoting effect on the policy banks' credit delivery and efficiency promotion. From the macro economy, the reverse cycle regulation of policy banks is mainly reflected in the regulation of reverse investment cycle. In the period of the decline of investment, the decline in the amount of capital formation leads to the promotion of total factor productivity of policy banks. From the microcosmic perspective, the expansion of the loan scale and the improvement of the management level of the banks have positive effects on promoting the total factor productivity of policy banks. This paper analyzes the practical and international empirical basis of China in this paper. The main policy suggestions are as follows: first, in the overall thinking of transformation, the transformation of policy banks should be based on promoting total factor productivity as the core, and in line with the special requirements of the national economic development stage and national strategy. The two is to develop the market and the role of the market. In the transformation target model, the policy of institutional function and business classification, the clear operation mechanism of the market-oriented operation target, the establishment of a comprehensive management system with synergistic advantages, the analysis of the transformation goal in the aspect of leading supplementary role in the financial structure. Three is the discussion of the government. The transformation path of the policy bank, from the function transformation under the restriction of the development space, the promotion of the comprehensive management under the moderate scale, the franchise value right of the policy bank, the relationship between the government and the policy bank, and the five aspects of the relationship between the policy bank and the market.
【學(xué)位授予單位】：中國(guó)財(cái)政科學(xué)研究院
【學(xué)位級(jí)別】：博士
【學(xué)位授予年份】：2017
【分類號(hào)】：F832.31

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 楊志安;劉益彤;;新常態(tài)下地方政府土地財(cái)政的轉(zhuǎn)型對(duì)策[J];改革與戰(zhàn)略;2016年11期

2 張成思;劉貫春;;最優(yōu)金融結(jié)構(gòu)的存在性、動(dòng)態(tài)特征及經(jīng)濟(jì)增長(zhǎng)效應(yīng)[J];管理世界;2016年01期

3 胡俊華;;中國(guó)縣區(qū)級(jí)財(cái)政支出結(jié)構(gòu)存在的問(wèn)題研究[J];財(cái)會(huì)學(xué)習(xí);2015年18期

4 劉尚希;;不確定性:財(cái)政改革面臨的挑戰(zhàn)[J];財(cái)政研究;2015年12期

5 張維凡;;政府財(cái)政支出:新常態(tài)下的結(jié)構(gòu)調(diào)整[J];安徽商貿(mào)職業(yè)技術(shù)學(xué)院學(xué)報(bào)(社會(huì)科學(xué)版);2015年04期

6 謝平;倪經(jīng)緯;;開(kāi)發(fā)性金融國(guó)際合作機(jī)理分析[J];開(kāi)發(fā)性金融研究;2015年01期

7 白景明;;存量債務(wù)置換的宏觀效應(yīng)[J];中國(guó)金融;2015年12期

8 白欽先;武飛甫;;政策性金融發(fā)展新階段——以中國(guó)農(nóng)業(yè)發(fā)展銀行為例[J];中國(guó)金融;2015年10期

9 易憲容;;強(qiáng)化“政策性”定位 不得“商業(yè)化”轉(zhuǎn)身 三大政策性銀行要強(qiáng)化政策性金融工具作用[J];中國(guó)經(jīng)濟(jì)周刊;2015年15期

10 張占倉(cāng);;中國(guó)經(jīng)濟(jì)新常態(tài)與可持續(xù)發(fā)展新趨勢(shì)[J];河南科學(xué);2015年01期

相關(guān)重要報(bào)紙文章 前10條

1 胡懷邦;;以開(kāi)發(fā)性金融助力可持續(xù)發(fā)展[N];人民日?qǐng)?bào);2016年

2 解學(xué)智;;自覺(jué)提升站位 全力服務(wù)“三農(nóng)”[N];人民日?qǐng)?bào);2015年

3 陳學(xué)慧;;新常態(tài)，一個(gè)具有歷史穿透力的戰(zhàn)略概念[N];經(jīng)濟(jì)日?qǐng)?bào);2014年

4 習(xí)近平;;謀求持久發(fā)展 共筑亞太夢(mèng)想[N];人民日?qǐng)?bào);2014年

5 楊洋;;堅(jiān)持中國(guó)特色農(nóng)業(yè)政策性銀行辦行規(guī)律[N];金融時(shí)報(bào);2014年

6 高攀;;美國(guó)進(jìn)出口銀行存續(xù)爭(zhēng)議升溫[N];經(jīng)濟(jì)參考報(bào);2014年

7 潘英麗;;中國(guó)金融結(jié)構(gòu)需要大調(diào)整[N];第一財(cái)經(jīng)日?qǐng)?bào);2013年

8 劉克崮;;關(guān)于我國(guó)政策性金融改革發(fā)展的思考[N];學(xué)習(xí)時(shí)報(bào);2006年

9 石朝格;;三大政策銀行搶跑開(kāi)發(fā)性金融[N];中國(guó)證券報(bào);2005年

10 姜業(yè)慶;;政策性銀行應(yīng)建立自主可持續(xù)發(fā)展模式[N];中國(guó)經(jīng)濟(jì)時(shí)報(bào);2005年

相關(guān)博士學(xué)位論文 前1條

1 劉孝紅;我國(guó)政策性銀行轉(zhuǎn)型路徑研究[D];東北大學(xué);2009年

，

本文編號(hào)：2154167