利率市场化、信贷市场竞争与农商银行比较优势

王石琦; 周鸿卫

利率市场化、信贷市场竞争与农商银行比较优势

引用本文：王石琦，周鸿卫.利率市场化、信贷市场竞争与农商银行比较优势[J].财经理论与实践,2025,(3):18-25

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作者	单位
王石琦，周鸿卫	（湖南大学金融与统计学院，湖南长沙 410079）

基金项目:Interest Rate Liberalization, Credit Market Competition and the Comparative Advantage of Rural Commercial Banks

中文摘要:通过构建PSM-DID模型，利用215家商业银行2011—2019年的面板数据，实证研究利率市场化改革在信贷市场竞争环境中对农村商业银行比较优势的影响。结果显示：利率市场化改革促进了农村商业银行对关系型贷款的应用，从而增强了农村商业银行信贷比较优势，并通过提高贷款利率来覆盖应用关系型贷款所带来的高成本。进一步研究表明，政策效应存在明显的地域差异。基于此，应继续深化利率市场化改革，完善基础设施建设，让农商银行充分发挥信贷比较优势，与大型银行进行错位竞争。

中文关键词:利率市场化信贷市场竞争信贷比较优势关系型贷款

Interest Rate Liberalization, Credit Market Competition

Abstract:By constructing a PSM-DID model and using the panel data of 215 commercial banks from 2011 to 2019, this paper empirically studies the impact of interest rate liberalization reform on the comparative advantages of rural commercial banks in the competitive environment of the credit market. The results show that the interest rate liberalization reform has promoted the application of relationship lending by rural commercial banks, thus enhancing their comparative advantages in credit. Rural commercial banks have been compensated for the cost disadvantages brought by relationship lending through increasing loan interest rates. Further research also finds that there are obvious regional differences in the policy effects. Based on this, it is necessary to continue to deepen the interest rate liberalization reform and improve the construction of infrastructure, so that rural commercial banks can give full play to their comparative advantages in credit and carry out dislocation competition with large banks.

keywords:interest rate liberalization credit market competition comparative advantage in credit relationship lending

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