外资准入负面清单制度对银行业风险的影响研究

摘要外资负面清单制度改革对银行风险的影响,是值得关注的现实问题。利用开放条件下宏观经济波动模型,探讨了银行业外资负面清单制度对银行业风险的影响机制和效果。基于1996—2017年全球范围内53个国家的面板数据,综合采用不良资产率和Z指数衡量各国银行业风险水平,利用双重差分模型(DID)和多种稳健性检验估计,系统地考察了银行业外资准入负面清单制度对实施国银行业风险的影响。研究发现:银行业外资负面清单制度的实施显著降低了银行业风险水平。而且,当实施国资本项目对外开放程度比较低,或者实施国法治水平比较高时,外资准入负面清单制度降低银行业风险的效果更加明显。因此,积极扩大银行业对外开放水平,完善银行业外资负面清单配套制度,全面提升金融监管治理能力,对于我国商业银行国际竞争力提升、金融风险防范化解具有重要意义。

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	禄雪焕
	杨遂全

关键词：负面清单制度银行业风险国际经验

Abstract： The impact of the reform of the foreign investment negative list system on bank risks is a realistic issue worthy of attention. Using the macroeconomic fluctuation model under the open condition, this paper discusses the influence mechanism and effect of the negative list system of foreign capital on banking risk. Based on the panel data of 53 countries around the world from 1996 to 2017, this paper comprehensively uses the ratio of non-performing assets and Z index to measure the risk level of banking industry in each country. And the Difference-in-Differences Modal (DID) and multiple robustness test estimates are also used in this paper to examine the impact of the negative list system of foreign investment access on the banking risk of the implementing countries systematically. The study finds that the negative list system for foreign investment in the banking industry has significantly reduced the risk level of the banking industry. Moreover, when the degree of openness of the capital account of the implementing country is relatively low, or the Legalization level level of the implementing country is relatively high, the effect of the negative list system of foreign capital access to reduce banking risk is more obvious, and vice versa. Therefore, actively expanding the level of opening up of the banking industry, perfecting the supporting system of the banking industry's foreign negative list and comprehensively enhancing the abilities of financial supervision and governance are of great significance for the promotion of the international competitiveness of China's commercial banks and the prevention of financial risks.

Keywords： Negative List System Banking Risks International Experience

收稿日期 2020-11-02; 接受日期 ;

基金资助:国家社会科学基金重大研究专项(18VHJ007)

作者简介: 禄雪焕(1984— ),女,河南许昌人,博士研究生,主要从事法经济学和环境经济学研究;杨遂全(1957— ),男,河南南阳人,博士,教授,博士生导师,主要从事法经济学研究。

引用本文:

禄雪焕, 杨遂全.外资准入负面清单制度对银行业风险的影响研究[J]. 经济经纬, 2021,3: 55-65

LU Xuehuan, YANG Suiquan.A Study on the Influence of the Negative List System of Foreign Investment Access on Banking Risk[J] Economic Survey, 2021,V38(3): 55-65

链接本文:

http://www.jjjw.org.cn/CN/ 或 http://www.jjjw.org.cn/CN/Y2021/V38/I3/55

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