我国非金融企业从事影子银行业务的社会福利效应分析

发布时间：2018-03-11 10:15

  本文选题：非金融企业　切入点：影子银行　出处：《华东师范大学》2015年硕士论文　论文类型：学位论文

【摘要】：随着影子银行的不断发展,国内外在影子银行方面的研究也有了一定的成果。鉴于中国影子银行发展的特殊性,我们有必要从中国国情出发,研究中国式影子银行的发展。非金融行业的实体企业成为资金放贷者是当前中国式影子银行体系的一大特点。越来越多的非金融企业开始从事影子银行业务,扮演信用中介的角色。融资市场主体地位的不平等产生了融资优势企业和融资劣势企业之分。融资优势企业凭借自身优势地位形成了一定规模的低成本超募资金,劣势企业则面临融资难、融资贵的困境。资本的逐利性使得优势企业热衷于从事将超募资金以高利率借贷给劣势企业的影子银行业务。这样的经济行为造成金融资源错配、市场融资成本上升,融资市场主体地位进一步失衡等结果。这些经济影响都将通过企业产出效率的减损而带来社会福利的损失。本文介绍了我国非金融企业从事影子银行业务的具体现状,用定性分析的方法论述了由此造成的社会福利效应具体表现,并进一步用实证分析的方法验证了这些效应的量化数值。本文尽管侧重于讨论非金融企业从事影子银行业务对社会福利的负面效应,但并不否认影子银行在促进资源使用效率上的潜在积极作用。只是从当前的现实状况来看,非金融企业从事影子银行业务确实存在显著的不良影响而总体表现为负效应。况且从现实意义上讲,这些负面的影响才更加值得我们关注,只有将焦点放在负效应上才可以为未来的政策措施提供更好的借鉴性。实证分析的结果也证明了我国非金融企业从事影子银行业务会带来社会福利净损失,本文的社会福利损失模型具体估算了这种福利损失的程度。据此分析结果本文最后提出了在加强对非金融企业从事影子银行业务行为的监管和限制方面的政策建议。
[Abstract]:With the continuous development of the shadow banking, shadow banking research at home and abroad, also have certain results. In view of the special nature of the development of the shadow banking China, we need Chinese starting from the national conditions, development of the shadow banking Chinese. Non financial sector entities for money lenders is a major feature of the China type the shadow banking system. Non financial enterprises more and more began to engage in shadow banking, as credit intermediary. Financing inequality of market players have advantage of financing enterprises and financing enterprises. The financing advantages of enterprises with their own advantage formed a low cost a certain amount of raised funds, inferior enterprises facing difficulties in financing, financing your dilemma. Profit driven capital makes enterprises keen to engage in the raised funds to high interest loans to enterprises in the shadow of silver This line of business. The economic behavior caused by the financial resources mismatch, market financing costs, financing market position further imbalance. These results will detract from the economic impact through the enterprise output efficiency and bring the loss of social welfare. This paper introduces the status in quo of shadow banking financial enterprises in our country, using the method of the qualitative analysis discusses the social welfare effects caused by specific performance, and verify the numerical quantification of these effects by a further empirical analysis method. This paper focuses on the discussion although non financial enterprises engage in shadow banking negative effect on social welfare, but does not deny the shadow banking in the promotion of resource use efficiency on the potential positive effects. Just from the current situation, non financial enterprises in the shadow banking system exists significantly negative effects and overall performance Negative effects. Moreover, from a practical sense, these negative effects are more worthy of our attention, only focus on the negative effect that can provide better reference for future policy measures. The results of the empirical analysis also proves that the financial enterprises in the shadow banking system will bring the net loss of social welfare in China. The loss of social welfare model the estimated the welfare loss degree. Based on the result this paper finally puts forward to strengthen supervision and restrictions on non financial enterprises engaged in shadow banking business conduct policy recommendations.

【学位授予单位】：华东师范大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.3;D632.1
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本文编号：1597719