影子銀行對我國經(jīng)濟發(fā)展影響研究
發(fā)布時間：2019-03-02 20:33
【摘要】：影子銀行體系的概念于2007年首次被提出，，是指游離于監(jiān)管體系之外，與傳統(tǒng)商業(yè)銀行行使類似的功能進行融資和提供信用的非銀行金融機構。2007年爆發(fā)的全球性金融危機，波及了世界的多個國家和地區(qū)，其產(chǎn)生的根源并非來自傳統(tǒng)的銀行業(yè)金融體系，而是來自與傳統(tǒng)商業(yè)銀行系統(tǒng)有著緊密關聯(lián)的影子銀行體系。影子銀行由于具有高杠桿性，期限錯配和不透明等特點,因而存在較大風險。體系內(nèi)部之間的風險傳遞、與商業(yè)銀行之間的緊密聯(lián)系，是引發(fā)這次全球性金融危機的根源。這次金融危機的爆發(fā)，使得世界各國銀行業(yè)監(jiān)管機構和專家學者開始重新審視本國的金融體系、影子銀行的運作機制和存在的風險，并提出監(jiān)管的方法，意圖將風險降到最低。 相比于歐美發(fā)達國家，我國影子銀行起步較晚，資產(chǎn)證券化程度較低。但是隨著經(jīng)濟的逐漸發(fā)展和社會對貨幣需求的不斷加大，我國影子銀行也得到了快速的發(fā)展。影子銀行體系的發(fā)展，提供了多樣化的投資理財產(chǎn)品，有效的緩解了小企業(yè)融資難的問題。但是體系自身存在的缺陷和風險，也對金融體系的穩(wěn)定和國家貨幣政策實施效果產(chǎn)生了較大的負面影響�？v觀世界各國專家學者的研究，更多的是關注了影子銀行的運行機制、存在的風險及提出監(jiān)管建議，但是在影子銀行對經(jīng)濟發(fā)展的影響方面，研究并不深入。國內(nèi)學者對該問題的研究，更多的集中在影子銀行對貨幣政策效果產(chǎn)生的不利影響方面，而對影子銀行的積極作用、宏觀經(jīng)濟環(huán)境對影子銀行的影響方面卻較少提及。這不禁會使我們對影子銀行的認識上產(chǎn)生偏頗。本文正是在這個基礎上產(chǎn)生的，意圖全面的、定性定量的研究影子銀行對我國經(jīng)濟發(fā)展產(chǎn)生的積極影響和消極影響。 本文的第一個部分對影子銀行做了一個完整而全面的概述。首先是國內(nèi)外學者對影子銀行概念的研究，然后從資金來源、金融創(chuàng)新、表現(xiàn)形式和風險傳遞四個方面分析了國內(nèi)外影子銀行的差異。之后又從資金來源、融資模式、信息透明度和金融監(jiān)管等方面揭示了影子銀行與傳統(tǒng)商業(yè)銀行不同的運作機制。最后，通過以上對影子銀行的剖析，揭示了影子銀行的特征及存在的風險。第二部分闡述了我國影子的發(fā)展和現(xiàn)狀，提出我國影子銀行與傳統(tǒng)商業(yè)銀行業(yè)務交錯，并具有明顯體制特征。第三部分是本文的核心部分，從影子銀行對國民經(jīng)濟的增長和對貨幣政策的沖擊兩個方面定性定量的進行了研究，研究結果表明影子銀行的發(fā)展對國民經(jīng)濟的增長起促進作用，而對物價水平變動效果的影響不顯著，只是微弱的影響了貨幣供給量。而經(jīng)濟的增長和減少貨幣供給量會對影子銀行的發(fā)展起推動作用。第四部分，針對影子銀行自身存在的風險和對貨幣政策方面的消極影響，提出完善貨幣政策和加強金融監(jiān)管的建議。
[Abstract]:The concept of shadow banking system was first put forward in 2007. It refers to non-bank financial institutions that are separated from the regulatory system and perform similar functions as traditional commercial banks to finance and provide credit. The global financial crisis broke out in 2007. Many countries and regions in the world are affected by the shadow banking system which is closely related to the traditional commercial banking system, not from the traditional banking financial system, but from the shadow banking system which is closely related to the traditional commercial banking system. Shadow banking has great risks because of its high leverage, term mismatch and opacity. The risk transmission within the system and the close connection with commercial banks are the root causes of the global financial crisis. With the outbreak of the financial crisis, banking regulators and experts and scholars from all over the world began to re-examine their own financial system, the operating mechanism of shadow banks and the existing risks, and put forward the methods of regulation in order to minimize the risk. Compared with the developed countries in Europe and America, shadow banks in China started late and the degree of asset securitization was lower. However, with the gradual development of economy and the increasing demand for money, shadow banking in China has also got rapid development. The development of shadow banking system provides a variety of investment financial products, and effectively alleviates the difficulty of financing small enterprises. However, the defects and risks of the system also have a great negative impact on the stability of the financial system and the effect of the implementation of the national monetary policy. Looking at the research of experts and scholars from all over the world, we pay more attention to the operation mechanism of shadow banking, existing risks and put forward regulatory suggestions, but in the impact of shadow banking on economic development, the research is not in-depth. Domestic scholars focus more on the negative effects of shadow banking on monetary policy, but on the positive effect of shadow banking and the impact of macro-economic environment on shadow banking. This can't help but bias our understanding of shadow banking. On this basis, this paper aims to study the positive and negative effects of shadow banking on the economic development of our country both qualitatively and quantitatively. The first part of this paper gives a complete and comprehensive overview of shadow banking. Firstly, the author studies the concept of shadow banking at home and abroad, and then analyzes the differences of shadow banking at home and abroad from four aspects: the source of funds, financial innovation, forms of expression and risk transmission. Then it reveals the different operation mechanism between shadow banks and traditional commercial banks from the aspects of capital source, financing mode, information transparency and financial supervision. Finally, through the above analysis of shadow banking, it reveals the characteristics and risks of shadow banking. The second part expounds the development and present situation of shadow banking in China, and points out that shadow banking and traditional commercial banks in China are interlaced, and have obvious system characteristics. The third part is the core part of this paper, from the shadow banking to the growth of the national economy and the impact on the monetary policy qualitative and quantitative research, the results show that the development of shadow banking to the growth of the national economy plays an important role in promoting the growth of the national economy. But the effect on the price level change is not significant, but has a weak impact on the amount of money supply. The growth of the economy and the reduction of money supply will promote the development of shadow banking. In the fourth part, according to the risk of shadow bank itself and the negative influence on monetary policy, some suggestions are put forward to perfect the monetary policy and strengthen the financial supervision.
【學位授予單位】：吉林大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.3;F124
本文編號：2433444
[Abstract]:The concept of shadow banking system was first put forward in 2007. It refers to non-bank financial institutions that are separated from the regulatory system and perform similar functions as traditional commercial banks to finance and provide credit. The global financial crisis broke out in 2007. Many countries and regions in the world are affected by the shadow banking system which is closely related to the traditional commercial banking system, not from the traditional banking financial system, but from the shadow banking system which is closely related to the traditional commercial banking system. Shadow banking has great risks because of its high leverage, term mismatch and opacity. The risk transmission within the system and the close connection with commercial banks are the root causes of the global financial crisis. With the outbreak of the financial crisis, banking regulators and experts and scholars from all over the world began to re-examine their own financial system, the operating mechanism of shadow banks and the existing risks, and put forward the methods of regulation in order to minimize the risk. Compared with the developed countries in Europe and America, shadow banks in China started late and the degree of asset securitization was lower. However, with the gradual development of economy and the increasing demand for money, shadow banking in China has also got rapid development. The development of shadow banking system provides a variety of investment financial products, and effectively alleviates the difficulty of financing small enterprises. However, the defects and risks of the system also have a great negative impact on the stability of the financial system and the effect of the implementation of the national monetary policy. Looking at the research of experts and scholars from all over the world, we pay more attention to the operation mechanism of shadow banking, existing risks and put forward regulatory suggestions, but in the impact of shadow banking on economic development, the research is not in-depth. Domestic scholars focus more on the negative effects of shadow banking on monetary policy, but on the positive effect of shadow banking and the impact of macro-economic environment on shadow banking. This can't help but bias our understanding of shadow banking. On this basis, this paper aims to study the positive and negative effects of shadow banking on the economic development of our country both qualitatively and quantitatively. The first part of this paper gives a complete and comprehensive overview of shadow banking. Firstly, the author studies the concept of shadow banking at home and abroad, and then analyzes the differences of shadow banking at home and abroad from four aspects: the source of funds, financial innovation, forms of expression and risk transmission. Then it reveals the different operation mechanism between shadow banks and traditional commercial banks from the aspects of capital source, financing mode, information transparency and financial supervision. Finally, through the above analysis of shadow banking, it reveals the characteristics and risks of shadow banking. The second part expounds the development and present situation of shadow banking in China, and points out that shadow banking and traditional commercial banks in China are interlaced, and have obvious system characteristics. The third part is the core part of this paper, from the shadow banking to the growth of the national economy and the impact on the monetary policy qualitative and quantitative research, the results show that the development of shadow banking to the growth of the national economy plays an important role in promoting the growth of the national economy. But the effect on the price level change is not significant, but has a weak impact on the amount of money supply. The growth of the economy and the reduction of money supply will promote the development of shadow banking. In the fourth part, according to the risk of shadow bank itself and the negative influence on monetary policy, some suggestions are put forward to perfect the monetary policy and strengthen the financial supervision.
【學位授予單位】：吉林大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.3;F124
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