| Summary: | 碩士 === 國立臺灣大學 === 經濟學研究所 === 96 === There exists close relationship between bank deposits and bank loans. This paper investigates causal relationship and interaction between bank deposits and bank loans of the corporate finance and consumer finance. Furthermore, we discuss the effect on corporate finance and on consumer finance of the macroeconomic factors . About the researching mechanism, we first examine the causality relation between deposits and loans, then do the interaction test of corporate finance and consumer finance with all kind of deposits. Later, we use regression to examine effects on corporate finance and on consumer finance of macroeconomic factors. In this study, the empirical model is derived from the quantitative methods such as Unit Root Test, Granger Causality Test and Vector Autoregression Model.
Following conclusions can be drawn from this empirical result:
1. Interaction between corporate finance and deposits: There exist two-way causal relationships between corporate finance and demand deposits, and between corporate finance and time saving deposits. However, there is no significant causal relationship between corporate finance and demand saving deposits, time saving deposits.
2. Interaction between consumer finance and deposits: There exist two-way causal relationship between consumer finance and demand deposits and between consumer finance and time saving deposits. Furthermore, demand deposits lead consumer finance, and there exists contemporaneous causal relationship between time saving deposits and consumer finance. There exist unidirectional causal relationship between consumer finance and time deposits. Besides, consumer finance leads demand deposits. There is no significant causal relationship between consumer finance and demand saving deposits.
3. Interaction between loans and deposits: There are apparent interaction between loans and demand deposits, and between loans and time deposits. There exist two-way causal relationship between demand deposits and loans. Furthermore, demand deposits lead loans apparently. Time deposits lead corporate finance but lag behind consumer finance.
4. Factors affecting corporate finance: Increasing current demand deposits, depreciation and inflation will all expand corporate finance.
5. Factors affecting consumer finance: Consumer finance is positively impacted by increasing current and previous demand deposits and by time saving deposits. Besides, consumer finance is positively impacted by its previous performance, which revealed inertia of consumer finance.
|
|---|
