主题：Shadow Banking: China's Dual-Track
Interest Rate Liberalization (影子银行：中国的双轨利率市场化)
主讲人：王红林，香港金融研究中心研究员
日期：2015年6月12日（周五）
时间：上午10:00-11:30
地点：德州扑克大小
金融德州扑克大小
4号楼102教室
语言：英文
摘要：
Shadow banking in China is mainly conducted by
commercial banks to evade regulatory restrictions on deposit rate and loan
quantity. It essentially constitutes a dual-track pragmatic approach to
gradually liberalize the country's repressed interest rate policy. We show in
equilibrium that shadow banking improves social surplus given high deposit
reserve requirement and inefficient bond market. Full interest rate
liberalization leads to additional gain in social surplus. The dual-track
approach to interest rate liberalization avoids the potential economic
turbulence caused by an otherwise single-track one-step approach.
主讲人简介:
Honglin Wang is a fellow of Hong Kong Institute for Monetary Research
(HKIMR). Wang received a B.A. in Economics and International Business from
Renmin University of China in 1998, and a M.A. and a Ph.D. in Agriculture
Economics and Economics from Chinese Academy of Agricultural Sciences and
Michigan State University (MSU) respectively. His papers have appeared in
Journal of Econometrics, International Journal of Central Banking,
International Finance Review and other leading economic journals. His research
interests are mainly in monetary policy, real estate, bank and capital market
and applied econometrics.
