中国银行业x 效率实证研究

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1、中国银行业X效率实证研究常琨（Email：changkunaq@etang.com）摘要：本文考察了1997－2002年间中国14家商业银行技术效率、配置效率和X效率的变化情况。其中DEA用以计算各银行的效率得分情况，Bootstrapping回归分析用以确定银行效率的影响因素。研究表明中国银行业近年来效率显著改善，但与发达国家相比仍有差距，其中国有商业银行的效率又低于股份制银行。低效率的原因主要归咎于配置低效率和规模低效率，这意味着金融管制的进一步放松和国有银行继续精简机构是必要的。回归分析显示单一国有产权对三种类型

2、的效率都有显著的负向影响，因此正在进行的国有银行股份制改造应能取得良好的效果。X-EfficiencyofCommercialBanksinChinaAbstractThisstudyhasthreemainobjectives:(1)toestimatethetechnicalandallocativeefficiency,andX-efficiency(hererefertocostefficiency)ofChinesecommercialbanks,(2)toinvestigateswhetherthecost

3、efficiencyofChinabankingsystemshasimprovedinrecentyears,(3)toevaluatethedeterminantsofthisthreetypesefficiencies.14commercialbanksareinvolvedinthesampleandTwo-Stepapproachhasbeenused.Theoverall,technicalandallocativeefficienciesweremeasuredusingDataEnvelopmentAn

4、alysis(DEA).TheregressionmodelwasusedtodeterminethefactorsinfluencingefficiencyandANOVAwasperformedtofindthedifferenceinefficiencyofstate-owned‘Big-Four’andotherbanks.Bootstrappingtechniqueisappliedinregressionanalysistoovercomethedata-generatingproblemofDEAeffi

5、ciencyscores.TheexaminationofX-efficiencyinbankinghasimportantpublicpolicyimplicationsinChina.Banksreform,especiallystate-ownedbanksreformisconsideredasoneofthemostimportantmissionsinChina.Since1997whenAsia’sFinancialCrisisbreaksup,Chinesegovernmenthasimplements

6、everalstepstoinsuredomesticbankingsystemsafety.270billionsYuanSpecialBondswereissuedtosupplement‘Big-Four’banks’capitalin1998.1998-1999,4AMCswereestablishedtosolveNPLsproblem.2001,ChinaentersWTOandmakesacommitmenttoopendomesticfinancialmarketinfiveyears.2004,ama

7、ssivecapitalinjectionofUS$45billionintoCCBandBOCwasdonetobuildthemincompetitivemoderncommercialbanks.Inpublicview,allthesemeasuresarefulfilledtomakestate-ownedbanksmoreefficient.Hence,theassessmentofbanksefficienciesisnecessary.Bergeretal.(1993)foundthatX-effici

8、enciesaccountforaround20%ormoreofcostsinbanking.However,scaleandproductmixinefficiencies,whenaccuratelyestimated,areusuallyfoundtoaccountforlessthan5%ofthecosts.Despi