The Counter - Cyclicality of Commercial Bank Capital Buffers:Evidence from the Chinese Listed Banks
利用1998-2011年中国16家上市银行数据，检验资本缓冲的逆周期性，发现其显著存在，且巴塞尔协议和逆周期货币政策强化了这一特征。
The optimization of capital buffer is important for commercial banks to minimize operation cost and to restraint risk-taking behavior,so its character of cyclicality has been highlighted after recent global financial crisis.Using an unbalanced panel data from 1998 to 2011 of the Chinese listed commercial banks,this paper tests the counter-cyclicality of capital buffers of these 16 banks.The empirical results show that there is a significant counter-cyclicality for the Chinese listed banks to hold capital buffers,Basel Accord and counter-cyclical monetary policy enhance this character.