浙江十一选五开奖奖金分配:校園信息

您現在的位置: 首頁 → 校園信息 → 報告講座

【5月31日】【中央財經大學經濟學院“龍馬經濟學雙周學術論壇”·2019年春季學期第八講】The Real Effects of Entrusted Lending in China

[發表時間]:2019-05-30 [來源]: [瀏覽次數]:

浙江十一选五前三走势 www.otjhx.com   講座主題:The Real Effects of Entrusted Lending in China

  主講嘉賓:孫琪(上海財經大學金融學院副教授)

  講座時間:2019年5月31日(周五),下午14:00-15:30

  講座地點:沙河校區1號樓201

  嘉賓簡介:孫琪,南加州大學經濟學博士,現任上海財經大學金融學院副教授。

  研究領域為宏觀經濟學、公司金融等。他的多篇學術成果發表在頂級國際學術期刊,如the Journal of the European Economic Association;the Journal of Financial Economics等。

  內容摘要:I develop a two-sector equilibrium model of shadow bank lending in China, in which firms with privileged access to credit provide entrusted loans to firms with limited access to credit. I show that given the initial distorted between-sector allocation of bank loans, entrusted lending can improve the capital allocation by channelling funds toward more productive ?rms. However, for the allocation of new bank credit injected into the economy, the existence of entrusted lending could amplify the misallocation, through the lender’s interest rate arbitrary behavior. I also conduct counterfactual exercises to examine the allocation effects of credit policies during the period 2009-2012. I quantify the size of the crowding out effect induced by the partial liberalization of the state sector’s borrowing constraint.

  


[編輯]:張萌