报告题目 | Chinese Shadow Banking: An Update on the EXRC-NSFC Project | ||
报告人（单位） | Prof. Kent Matthews (Cardiff University) | ||
点评人（单位） | 刘晓星 教授 （东南大学） | 点评人（单位） | 尹威 副教授 （东南大学） |
时间地点 | |||
报告内容摘要 | |||
Shadow Banking in China is in decline. After initially allowing Shadow Banking to grow rapidly, the Chinese regulatory authorities have in recent years imposed strong regulatory conditions on its operation that threatens to reduce its activity and even its very existence. This seminar updates seminar participants on the findings of the joint research project funded by the Economic & Social Research Council of UK (ESRC) and National Natural Science Foundation of China (NSFC). The seminar will present the results of published research and most recent research using a DESGE model estimated by Indirect Inference. The seminar will first describe the DSGE macroeconomic model for China and shows that this model is data consistent. Second, it will show how sound monetary policy is the best macro-prudential policy for stability and that this trumps the micro-prudential policy used by the authorities in 2009-2015. Third, it shows that the regulatory policies undertaken by the authorities weakened the effectiveness of monetary policy but that it was not monetary policy that was the problem, but the regulatory policy imposed by the authorities. Finally, the seminar will examine the question whether shadow banking is a force for good or bad for the Chinese economy and whether the current regulatory state is causing more harm than good. | |||
报告人简介 | |||
Kent Matthews是英国卡迪夫大学商学院金融学教授，同时拥有英国Sir Julian Hodge Professor of Banking and Finance的荣誉头衔。他从事银行与金融方面研究与研究三十余年，出版专著17本，主持各项科研项目13项，发表期刊论文近百篇，其中大部分发表于European Economic Review，Journal of Money, Credit and Banking，Journal of Bank and Finance，International Review of Financial Analysis和Journal of International Financial Markets, Institutions and Money等相关专业顶级期刊上。Kent Matthews教授在全球银行与金融研究领域拥有极高的声望，同时也是中国银行业研究专家，是国家自然科学基金委“中英合作项目”专家之一。他曾参与英国国家经济与社会研究所和英格兰银行的政策制定研究，也曾担任香港金融管理局的访问学者。 | |||
