商业银行流动性风险和银行挤兑问题的研究

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1、上海交通大学博士学位论文商业银行流动性风险和银行挤兑问题的研究姓名：赵红光申请学位级别：博士专业：企业管理指导教师：黄培清2001.11.24AbstractThisdissertationanalyzesthetopformofbankliquidityrisk——bankrm2s．Withutilityfunaions，thewelfarelevelofconsumersinvariousstateshasbeeninvestigated．Offeringthedepositcontract，bankgivesCOFiSUmersmorewelfaretha

2、ninantarkystateandmaximizeit．Butforconsumertypebeingunobservable，thereisanotherequilibrium——bankruns——impliedbythedepositcontract．ThecausesthattriggerbanklUllScouldbepsychologicalabilityofdepositors，ortheirrationaljudgementandthenreactiontoeconomicsignals．GovernmentdepositinsuranceCa

3、llbeusedtoavoidanyFtmSandmaximizetheutilityfunctions，butunfortunatelythismayincurbanktotakeexcessive^sl(s．Thereiss．【ronglinksbetweenexchangeratesandbankHJns．Ifcentralbankfixesexchangerates，liquidityriskislimitedinsidebankingsystem；Ifcen订albankactsasthelastresortaswell，liquidityriskca

4、rleasilyextendtoabroadtodevelopintoabalanceofpaymentsrisk．Thecentralhanksthatadoptfloatingratescangetridofbankiqlnsandachievefirst-bestallocation．Alsothecloserelationshipexistsbetweensecondaryfinancialmarketandbanks，banksfulfilltheliquiditygapbytransferringliquiditydemandfromfinancia

5、lmarkets，whichincreasetheilliquidassetspriceabovethatwhenallassetsarehelddirectly．Ifinvestorsisrisk-aversionsufficientlyandthepeopleoutsidethemarketisenough，thebankdepositSofferhigherrettlrrtthanthatofferedbythefinancialmarket,andgivecross-subsidytoinvestorswhowithdrawearlyatthecosto

6、ftheinvestorsholdingmulti·periodassets．ConclusionsdrawnfromtheanalysisshowusefulimplicationsforthedevelopmentofChinesebanking．。Withthemarketparticipationlevelimproving，bankcreditgrowsrapidlyandgovernmentcreditbecomesunimportant．WhenGovernmenthastoinventbankingsystem，itshouldHSedeposi

7、tinsurance，moneyadjustmentwithmarketprincipleanddevotetoimprovingfinancialmarketsbyincreasingmarketparticipation．上海交通大学博士论文第一章绪论随着人类社会发展到现代商业社会阶段，金融制度己演化为日趋复杂与精密的系统，并成为社会经济生活的中枢环节。一个完善与有效的金融体制是现代经济得以正常运行与健康发展的基本保障。一般来说，金融制度的基本职能是为经济的运行筹集资金与分配资金，通过直接性的金融市场与间接性的金融中介将资金由供方输导至需方。在现代金融体制下

8、，大量纷繁复杂的金融工具