讲座题目：How does Monetary Policy Uncertainty affect Credit Allocation to Small and Micro Enterprises in China?
主讲嘉宾：罗伟杰
时间：2024年10月23日（星期三）下午14:00—16:00
地点：tyc86太阳集团304会议室
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tyc86太阳集团
2024年10月18日
主讲嘉宾简介
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。主要研究领域为宏观经济、财政政策、企业经济、公共管理等。在Applied Economics、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，其中1篇论文入选科睿唯安(Clarivate Analytics)基本科学指标(Essential Science Indicators)全球Top 1%高被引论文(Highly Cited Papers)。个人专著《Inequality, Demography and Fiscal Policy》发表于国际著名学术出版社Springer Nature。担任International Review of Financial Analysis、North American Journal of Economics and Finance、World Development等10余本学术期刊匿名审稿人、教育部学位中心通讯评议专家。研究成果获货币宏观与金融协会(Money Macro and Finance Society)最佳论文奖、2022中国社会科学院青年经济学优秀论文三等奖等学术奖励。主持国家自然科学基金项目1项，作为核心成员参与国家社科基金重点项目、财政部部省共建联合研究课题，参与撰写的资政报告获得财政部领导肯定。
讲座主要内容
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.
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