| Interest rate marketization is an important way for a country's economic development and financial deepening.In 1996,China's market-oriented interest rate gradually reform,the process of accelerating the market rate of interest in 2012,July20,2013 fully liberalized the lending rate control,October 23,2015 released the deposit rate on the upper limit control,China's interest rate marketization formally login to the stage of the times.With the further advancement of interest rate marketization reform,the lower threshold of banking access and the rapid development of Internet finance,it increasingly fierce banking competition and decline profit level.In the changing economic environment,banks can only continue to enhance their competitiveness in order to maintain development and growth.And efficiency is the reflection of the core competitiveness of the bank,so the efficiency of the long-term development of the banks is the fundamental,but also China urgently need to solve the problem.Because of the particularity of the bank's own operation,its main business process is to raise low-cost funds,operating funds to obtain a variety of investment profits,so the bank efficiency,including financing efficiency and investment efficiency.Interest rate marketization is a trend and a long process.Therefore,it is necessary to study the impact of interest rate marketization on the efficiency of China's commercial banks.And China has gone through nearly 20 years of interest rate market reform,then the interest rate marketization can really promote the efficiency of our business to improve? How does its impact on the bank's financing efficiency and investment efficiency.In order to explore the above problems,this paper uses the two-stage DEA model to measure the efficiency level of our bank in 2009-2015,and uses the panel regression to test the effect of interest rate marketization on the efficiency of our bank.According to the analysis of the results,it shows that the overall technical efficiency of the firms is decreasing and the overall change is not significant.The technical efficiency of the financing stage is increasing as a whole.The technical efficiency level of the investment stage is declining as a whole.There is little difference in the technical efficiency level between different types of banks,but the difference between pure technical efficiency and scale efficiency is very obvious.Thepure technical efficiency of the state-owned banks is the highest,but the scale efficiency is the lowest.The efficiency of the joint-stock banks is kept at the middle level.The purely technical efficiency of city commercial bank is the lowest,but the scale efficiency is at the highest level among the three.Therefore,The three comprehensive efficiency level that the technical efficiency is generally maintained flat,comparable.In general,the efficiency of state-owned banks at all stages of the best stability,joint-stock banks and city firms followed.Joint-stock banks have a large ups and downs,but the resilience is strong,and the level of efficiency of city commercial bank is difficult to rebound once it has suffered a significant decline.The empirical results show that the impact of interest rate marketization on the efficiency of the overall stage of our firm is not obvious,but the impact on the efficiency of the stage is obvious.The interest rate marketization promotes the improvement of the efficiency of the financing stage,but it is not conducive to the improvement of the efficiency of the investment stage.In addition,the impact of interest rate marketization on financial efficiency is not significant,but its effect on bank efficiency is very obvious.The interest rate marketization leads to the narrowing of deposit and loan spreads and the decrease of bank concentration,which is beneficial to the improvement of bank efficiency and investment stage efficiency. |
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