| Now China's economy into a new normal period,the slowdown in economic growth,China's banking industry has entered its own development of the new normal,in an important period of strategic opportunities.2013 Third Plenary Session put forward "to make the market in the allocation of resources play a decisive role." The reform of China's banking industry has not broken through the framework of state-owned property rights system,which makes China's banking industry,the efficiency of resource allocation is very low,the economic efficiency is not high.Therefore,it is of great significance to China's economic growth to make our economy change from the old factor investment model to the efficiency-driven model and optimize the allocation of resources in the financial field,which will effectively improve the social welfare level of our country.Based on the basic theory of the impact of monopoly on the loss of social welfare,this paper measures the monopoly degree of China's banking industry through two indicators: market concentration rate CRn,Herfindahl-Hirschman index,and policy of China's banking industry The degree of monopoly.Secondly,using the annual data of 14 national commercial banks from 2007 to 2015,the X-efficiency level of these 14 national commercial banks is estimated by SFA model.Again,the method of estimating the lower limit of monopoly welfare loss is deduced.The annual X-inefficient loss of each national commercial bank,the method of estimating the upper limit of social welfare loss caused by monopoly,and the indirect welfare loss estimation method through Leibenstein method.Finally,using the data of 14 national commercial banks in China from 2007 to 2015,the paper analyzes the upper and lower limit of direct welfare loss and indirect welfare loss caused by monopoly of banking industry in China,and analyzes the empirical results.The empirical conclusion is as follows: 2007-2015 China's banking industry in the deposits,loans,assets and liabilities have monopoly power,but the monopoly degree showed a downward trend year by year,the use of market concentration CRn,Herfindahl-Hirsch Man Index can be measured by two indicators can be drawn:China's banking industry belongs to the concentration of oligopoly industry.At the same time,each year of 2007-2015,each national commercial bank by the monopolyof the direct welfare losses are positive,China's banking sector by the monopoly power led to the lower limit of direct welfare loss to GDP ratio of 0.4% 0.6%,and the proportion of direct welfare loss is about 0.7% of GDP,which indicates that the direct welfare loss caused by the monopoly of China's banking industry is very significant.The percentage of direct welfare losses caused by monopoly of state-owned commercial banks is higher than that of joint-stock banks.At the same time,due to the commercial banks to the downstream industry loans,resulting in the downstream industry production costs rise,and ultimately by the monopoly of China's banking industry in 2008,the indirect benefits of seven industries accounted for more than 2%of GDP percentage,is the direct welfare loss of 4 Times,the negative effects of social welfare is particularly evident.On the basis of the research conclusion,this paper puts forward the following four policy suggestions: First,relax the market access,and gradually introduce competition.Second,the prevention and control of loan risk,optimize the loan structure.Third,deepen the interest rate market reform,optimize the interest rate formation mechanism.Fourth,improve the banking industry associations,and guide the orderly development of banks. |
PDF Full Text Request