本研究以2000年1月至2020年9月共30間本國銀行之追蹤資料，對不同種類之放款進行分析，探討我國銀行放款通道是否存在，同時以銀行大小、銀行流動性、銀行資本化程度此三類銀行特徵檢驗不同特徵下貨幣政策衝擊之放款分配效應。研究發現，在面對總體放款與消費相關之放款時，銀行放款通道存在；在面對企業相關之放款時，放款通道雖不顯著存在，但仍有些微政策緊縮造成放款減少之現象。在放款分配效應上，企業相關之放款同樣較不受政策衝擊影響，但在總放款與消費相關之放款上發現銀行大小之影響顯著，流動性高低則僅顯著影響購屋相關之放款，資本化程度高低則無顯著證據支持政策衝擊影響不同銀行間的放款行為。


關鍵字：銀行放款通道、放款分配效應、貨幣政策、追蹤資料

This paper investigates the existence of bank lending channel and the distribution effect of monetary policy in Taiwan. The research studies the panel data of 30 domestic banks in Taiwan from January 2000 to September 2020. Utilizing bank’s size, liquidity and capital strength as bank characteristic to examine different type of bank loan and their distribution effect after the shock. We find that bank lending channel exist in all loan and consumer’s loan; whereas it seems insignificant in enterprise’s loan. Also, the empirical result shows that bank size seems to play the most significant role in distinguishing bank reaction to monetary policy, and liquidity seems to be important only on housing loan.


Keywords：Bank lending channel, Monetary transmission, Panel data

摘要
Abstract
致謝辭
目錄
第一章、緒論--------------------------------01
第二章、文獻回顧----------------------------05
第三章、研究方法----------------------------08
第一節、模型設定------------------------08
第二節、資料來源與樣本處理---------------10
第四章、實證結果分析-------------------------14
第一節、放款通道與銀行特徵分配效應--------14
第二節、穩定性測試-----------------------31
第五章、結論--------------------------------51
參考文獻------------------------------------53

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