Has There Been a "Capital Crunch" in Banking? The Effects on Bank Lending of Real Estate Market Conditions and Bank Capital Shortfalls
Has There Been a "Capital Crunch" in Banking? The Effects on Bank Lending of Real Estate Market Conditions and Bank Capital Shortfalls
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银行业是否出现过“资本紧缩”？
DOI：
10.1006/jhec.1993.1003
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发表时间：
1993
影响因子：
2.4
通讯作者：
J. Wilcox
中科院分区：
文献类型：
--
作者：
D. Hancock;J. Wilcox
近年来，银行贷款的美元规模增长缓慢。虽然对银行贷款的需求可能因经济增长放缓而减少，但银行信贷供应也可能因亏损驱动的银行资本短缺而减少。我们估计了贷款需求疲软、银行对贷款风险和收益的修订估计以及银行的资本状况等实际和金融因素对银行信贷流动的影响。我们的结果表明，1990年的银行信贷流动因房地产领域的问题而大幅放缓，但宏观经济低迷的影响微乎其微。银行放贷也受到银行股本不足的重要限制。一些银行显然减少了放贷，以满足监管机构的资本金要求。然而，对于放贷来说，同样重要的是银行资本金短缺，这可能与监管机构的要求关系不大。
Abstract The dollar volume of bank loans has grown slowly in recent years. While the demand for bank loans may have been reduced by slower economic growth, the supply of bank credit may also have been reduced by a loss-driven shortage of bank capital. We estimated the impact on bank credit flows of such real and financial factors as weak loan demand, banks′ revised estimates of the risks of and returns on lending, and banks′ capital conditions. Our results suggest that flows of bank credit in 1990 were slowed considerably by problems in the real estate sector but only minimally by the sluggishness of the macroeconomy. Bank lending was also importantly restrained by shortfalls of banks′ equity capital. Some banks apparently reduced their lending to satisfy regulators′ capital requirements. Of similar importance for lending, however, were bank capital shortfalls that may have had little to do with regulators′ requirements.