The Impact Of Monetary Policy On The Risk-Taking Behavior Of Chinese Commercial Banks

The financial crisis hit the global economy and many financial institutions lost and some of them even became bankrupt After the serious financial crisis,the relationship between monetary policy and bank risk-taking has been paid more and more attention by theoretical circle,practical circle and government department.A lot of experts and began to pay attention to it.Some scholars put forward the new monetary policy transmission mechanism-monetary policy bank risk-taking channel,and believed that the loose monetary policy of long-term low interest rate would lead to the increase of risk bearing of Banks.The risk identification and measurement of China’s commercial Banks play an increasingly important role in the transmission process of monetary policy.Therefore,it is of great significance to study to study how monetary policy affect the bank risk taking,which is also of great importance to how to maintain China’s financial stability.The structure of this paper is arranged as follows:the first chapter is the introduction of this paper,such as background and meaning,research ideas and methods,innovation and shortcomings of this paper.The second chapter is the domestic and foreign literature.The third chapter is about theoretical analysis of the risk-taking of monetary policy commercial Banks.The fourth chapter is the setting of empirical model and data selection.The fifth chapter is the empirical analysis.The sixth chapter is the conclusion and countermeasures.This paper adopts the systematic GMM method and takes the financial data and macroeconomic data of 16 listed commercial Banks in China from 2005 to 2017 as research samples,empirical testing the impact of China’s monetary policy on the risk taking of commercial Banks.At the same time,this paper studies the changes of the influence of monetary policy on the risk-taking of commercial Banks before and after interest rate liberalization.Besides,different proxy variables of bank risk-taking were selected for robustness test.The main conclusions are as follows:the impact of China’s monetary policy on the risk-taking of commercial Banks exists,and there is a significant negative correlation between them;Before and after interest rate liberalization,Banks’ risk bearing level will change,and after interest rate liberalization,commercial Banks’risk-taking is more sensitive to changes in monetary policy.