时间：2015/09/25，9：00-11：00地点：经济学院一楼院史馆主讲人：刘岩 （YanLiu）

主讲题目：State Ownership and Bank Lending Channel ofMonetary Policy: Theory and Evidence fromChina

主讲人介绍：刘岩于2014年在纽约州立大学石溪分校获得经济学博 士学位，并且在2014年加入武汉大学金融系，受聘为AssistantProfessor。刘岩博士在金融发展、宏观经济管理等领域有很深的造诣和学识，于2014年获得MartyWeinbaumAwardforExcellent Research 。

内容简介：Countercyclical bank lending behavior is a widespread phenomena across the world where state bank ownership is sizable.Based on a classic banking model under asymmetric information, we incorporate different preferences of state and private shareholdersthrough Nash bargaining, and investigate the joint impact of monetary policyand stateownershiponbanklendingdecisions.Theoreticallyweshowthat state ownership affects bank lending channel of monetary policy:a monetary stimulus reduces bank lending rates, boosts credit growth,and increases non-performing loans, to a greater extent for banks withhigher state ownership. Based on a hand collected panel dataset onownership structure of 93 Chinese banks, covering most city commercial banks,over 2005-2014, we confirm the theoretic implications of the model. Assuch, we provide further insight on the countercyclicality of banklending behavior.