yl23455永利双周论坛第 63 期
【讲座信息】
主讲人：罗伟杰 北京第二外国语学院
主持人：冯阔 yl23455永利
时间：2024年11月8日（周五）14:00 - 16:00（下午）
地点：线下：yl23455永利210会议室
讲座主题：
How does Monetary Policy Uncertainty affect Credit Allocation to Small and Micro Enterprises in China?
【Abstract】This paper analyzes how monetary policy uncertainty (MPU) affects credit allocation to small and micro enterprises (SMEs), utilizing news text data and a large sample loan data of 500,000 users from a top lending institution in China over 2013-2021. We find that MPU significantly reduces the loan scale of SMEs, while led to a rise in loan interest rates. Moreover, MPU has an influence on the lending behavior of SMEs through the mechanisms of credit market supply and demand, the risk bearing of lending institutions, and the interest rate-service fee rate strategy of lending aid institutions. We further explore the heterogeneous effects of MPU on SMEs credit allocation in the characteristics of loans, firm industry and time period. Our analysis emphasizes the need for monetary authorities to strengthen their consideration of policy stability and the importance to microeconomic entities.
[主讲人简介] 罗伟杰，英国约克大学经济学博士，英国剑桥大学访问学者，毕业后任职于中央财经大学经济学助理教授、副教授，2022年以高层次人才引进北京第二外国语学院工作，任经济学副教授、硕士生导师，成立并负责"数字经济研究中心"，先后入选"青年学术英才计划"和"院级统筹科研平台首席专家研究团队负责人"等人才计划。兼任澳门城市大学金融学院硕士生导师、北京市财政支出政策绩效评价特聘专家。在Economics Letters、International Review of Financial Analysis、Pacific-Basin Finance Journal、《经济管理》等知名SSCI和CSSCI期刊发表论文20余篇。
