中国银行业竞争度问题研究
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摘要
自20世纪80年代以来,由于银行经营外部环境的变化、信息技术进步,特别是网络技术与通信技术的发展和应用,导致世界范围内的银行业发生了巨大变化。而改革开放30年来,中国经济保持了持续高速增长,经济转型不断深入。从长远来看,构建一个财务稳健、以市场为基础的银行体系是经济成功转向的基础和标志,这对宏观经济稳定和长期发展至关重要。经过多年的努力,中国银行业在转型重构上取得了巨大成就,已经在打破市场垄断、逐步放松管制、强化竞争与效率的基础上,初步建立了多元化的银行业市场体制,并在国民经济发展中起着越来越重要的作用,但银行业市场的竞争程度到底是高还是低?影响银行业竞争度的到底是什么?本文就在这样的背景和疑问中展开。
文章运用CRn指数、HHI和Panzar-Rosse方法对中国银行业竞争度水平进行实证分析。为了充分展示中国银行业竞争度水平,我们选取2000-2009年5家大型商业银行、12家全国性股份制商业银行和42家城市商业银行组成全样本进行模型估计检验。同时还考虑到不同规模银行机构之间的竞争度可能存在差异,不同时期银行业市场竞争度也可能有变化,我们分别以14家全国性商业银行与42家城市商业银行分别作为样本检验了银行规模不同所导致的竞争度变化；再以每两年为单位检验了银行业整体竞争度的时间变化特征。研究结果表明,城市商业银行市场竞争度要低于整体市场竞争度,股份制商业银行之家的竞争度要略高于大型商业银行之间的竞争度；中国银行业竞争度整体呈现上升态势,在2005-2006年有显著增长。
为了充分展示中国银行业竞争度水平,我们选择发达国家(欧盟主要国家)和发展中国家(印度)为参照对象,与中国银行业竞争度进行比较,结果显示没有实现利率自由化的中国银行业,具有相当于发达国家、略高于发展中国家的银行业竞争度,这可能是由利率管制政策所导致的产品结构、文化差异所造成的。
紧接着,我们将视角缩小到一个省份,以辽宁为样本,分析了该省银行业整体和不同时期的竞争度变化,结果显示,辽宁银行业市场竞争度略低于全国水平,这可能是由地区文化、管制和机构设置差异所导致的。
为了探寻影响银行业竞争度的因素,我们选择2005-2009年八个利率市场化的国家所组成的样本进行模型估计,实证结果表明业务管制因素确实是导致银行业竞争度差异的主要因素,而市场结构因素则并没有显著影响。
中国银行业改革的最终目标是建立一个充分竞争、健康、高效的银行市场系,根据实证分析结果,我们提出一些切实可行的政策建议,为监管部门和地方政府提供理论参考。
Since 1980s, because of changing in the external environment, information technology progressing, especially the network technology and communication technology development and application, the banking in worldwide has changed enormously. While after 30 years'reforming and opening up, economy of China has maintained a sustained growth and got a successful transformation. In the long run, it is a foundation to transformate economy that constructing a banking marked by robust finance and free price. This paper will try to answer these questions such as the competition degree of banking in China is high or not and what drives banks to competite.
The paper apply CRn, HHI and Panzar-Rosse model to analyse the concentration and competition degree in China. In order to reveal the condition, we choose a sample set consisited of five large commercial bank, twelve nationwide equity commercial bank and forty-two municipal commercial bank. In consideration of the competition degree changing in different time and scale, we compare the H-value in different subsamples. We find that the competition degree in municipal commercial banks is a little lower than whole countries', while the competition in four state-owned commercial bank is lower than that in nationwide equity commercial bank. The competition degree of whole banking in China is on the rise after 2000 year.
After this, we turn to a small perspective which is Liaoning province, We want to find out whether the competition degree in a province will change with the whole country in different time. Result shows that the banking's competition degree in Liaoning is lower than that of whole country, especially the labor price which is significant negative correlation with total income of banking. Talking about the changing as time, H-value shows the same feature with whole sample.
What drives the banks to compete? Based on contestability theory, we test the competition degree with some variables such as market structure, contestability, structure in industry and economy development. Results show that contestability variable is significant with the competition degree in different contrise. Compared with market structure, regulation in banking is more important and significant.
文章运用CRn指数、HHI和Panzar-Rosse方法对中国银行业竞争度水平进行实证分析。为了充分展示中国银行业竞争度水平,我们选取2000-2009年5家大型商业银行、12家全国性股份制商业银行和42家城市商业银行组成全样本进行模型估计检验。同时还考虑到不同规模银行机构之间的竞争度可能存在差异,不同时期银行业市场竞争度也可能有变化,我们分别以14家全国性商业银行与42家城市商业银行分别作为样本检验了银行规模不同所导致的竞争度变化；再以每两年为单位检验了银行业整体竞争度的时间变化特征。研究结果表明,城市商业银行市场竞争度要低于整体市场竞争度,股份制商业银行之家的竞争度要略高于大型商业银行之间的竞争度；中国银行业竞争度整体呈现上升态势,在2005-2006年有显著增长。
为了充分展示中国银行业竞争度水平,我们选择发达国家(欧盟主要国家)和发展中国家(印度)为参照对象,与中国银行业竞争度进行比较,结果显示没有实现利率自由化的中国银行业,具有相当于发达国家、略高于发展中国家的银行业竞争度,这可能是由利率管制政策所导致的产品结构、文化差异所造成的。
紧接着,我们将视角缩小到一个省份,以辽宁为样本,分析了该省银行业整体和不同时期的竞争度变化,结果显示,辽宁银行业市场竞争度略低于全国水平,这可能是由地区文化、管制和机构设置差异所导致的。
为了探寻影响银行业竞争度的因素,我们选择2005-2009年八个利率市场化的国家所组成的样本进行模型估计,实证结果表明业务管制因素确实是导致银行业竞争度差异的主要因素,而市场结构因素则并没有显著影响。
中国银行业改革的最终目标是建立一个充分竞争、健康、高效的银行市场系,根据实证分析结果,我们提出一些切实可行的政策建议,为监管部门和地方政府提供理论参考。
Since 1980s, because of changing in the external environment, information technology progressing, especially the network technology and communication technology development and application, the banking in worldwide has changed enormously. While after 30 years'reforming and opening up, economy of China has maintained a sustained growth and got a successful transformation. In the long run, it is a foundation to transformate economy that constructing a banking marked by robust finance and free price. This paper will try to answer these questions such as the competition degree of banking in China is high or not and what drives banks to competite.
The paper apply CRn, HHI and Panzar-Rosse model to analyse the concentration and competition degree in China. In order to reveal the condition, we choose a sample set consisited of five large commercial bank, twelve nationwide equity commercial bank and forty-two municipal commercial bank. In consideration of the competition degree changing in different time and scale, we compare the H-value in different subsamples. We find that the competition degree in municipal commercial banks is a little lower than whole countries', while the competition in four state-owned commercial bank is lower than that in nationwide equity commercial bank. The competition degree of whole banking in China is on the rise after 2000 year.
After this, we turn to a small perspective which is Liaoning province, We want to find out whether the competition degree in a province will change with the whole country in different time. Result shows that the banking's competition degree in Liaoning is lower than that of whole country, especially the labor price which is significant negative correlation with total income of banking. Talking about the changing as time, H-value shows the same feature with whole sample.
What drives the banks to compete? Based on contestability theory, we test the competition degree with some variables such as market structure, contestability, structure in industry and economy development. Results show that contestability variable is significant with the competition degree in different contrise. Compared with market structure, regulation in banking is more important and significant.
引文
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