我国商业银行中间业务发展路径研究
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摘要
商业银行的中间业务是一种既古老而又崭新的银行业务。从最初的兑换、保管发展到现代，中间业务的内涵和外延已经发生了翻天覆地的变化。已成为商业银行的支柱之一。本文从商业银行中间业务发展的制度因素出发，研究了我国商业银行中间业务的发展路径问题。
首先，作者结合国际金融业制度的变迁，分析了国际上商业银行中间业务的发展历程。认识到分业经营制度对商业银行中间业务发展的束缚作用，且正是分业经营制度的渐趋瓦解和松动，为国际银行业中间业务提供了快速发展的空间。
中间业务的开展程度是商业银行业务范围的缩影。因此，对商业银行范围经济状态的衡量，可以对商业银行中间业务的作用作一个评价。通过对我国商业银行范围经济状态的实证分析，得出以下结论：四大国有商业银行范围经济性较强，而十家股份制商业银行的范围经济性较弱。因此，四大国有商业银行更有拓展中间业务的能力。这主要是由于它们有网点、信息和资本等方面的优势。在此基础上，作者结合这两类银行各自的特点，对它们的现状及存在的问题进行了剖析。
中国现行的分业经营制度对商业银行中间业务产生制度性约束。分业制度束缚了中间业务的创新及盈利水平。在中国金融市场日益开放的情况下，我国商业银行中间业务创新能力的不足拉伸了与外资商业银行之间的差距。为提高竞争力，各商业银行开展各种新兴中间业务，从而绕开分业制度的限制，实现一定程度的综合经营。对中间业务的外部需求与商业银行的内在动力共同推动商业银行中间业务的发展，客观上要求管理层进行制度创新，放松对中间业务的管制，并以此搭建起一座通往全能银行的桥梁。
Commercial banks' intermediary business is a old and developing business. From the initial exchange and keeper to now, the intension of commercial banks' intermediary business has changed giganticly. Commercial banks' intermediary business has become one of commercial banks' mainstays. From the systematic factor for the development of commercial banks' intermediary business, this paper aim to study the way to develop commercial banks' intermediary business.
First, in connection with international financial system's revolution, the history of commercial banks' intermediary business is analyzed, from which can we know that the principle of business seperation has negetive effect on the development of commercial banks' intermediary business. Just the loosen of the principle of business seperation that gives more chance to the development of intermediary business of commercial banks.
Commercial banks' intermediary business reflects the level of commercial banks' management So, the economy of scope gives an evidence for commercial banks' intermediary business' development. After analysis, the result comes out: Because the Four Big is strong in its scope of economy, they have tremendous space for intermediary business. The capability comes from their big sales network and other factors. While the other smaller banks, for the lack of sales network and capital, etc, have little space for intermediary business. So, different measures should be applied to the two kinds banks respectively.
The principle of business seperation in China restricts Chinese commercial banks' intermediary business systematically. It gives a curb on the innovation of commercial banks' intermediary business. So, banks' profit is contracted. That enlarged the difference between Chinese banks and foreign banks. To improve competence, commercial banks strike to more new intermediary business. Huge demand for intermediary business has pushed intermediary business to develop more fastly, and at the same time, requires some change in existing principle of business seperation. In a word, the development of intermediary business should aim to compound instrument which at the intersection of commercial banks and other financial market business. On the base of that, the way to universal bank can be bridged.
首先，作者结合国际金融业制度的变迁，分析了国际上商业银行中间业务的发展历程。认识到分业经营制度对商业银行中间业务发展的束缚作用，且正是分业经营制度的渐趋瓦解和松动，为国际银行业中间业务提供了快速发展的空间。
中间业务的开展程度是商业银行业务范围的缩影。因此，对商业银行范围经济状态的衡量，可以对商业银行中间业务的作用作一个评价。通过对我国商业银行范围经济状态的实证分析，得出以下结论：四大国有商业银行范围经济性较强，而十家股份制商业银行的范围经济性较弱。因此，四大国有商业银行更有拓展中间业务的能力。这主要是由于它们有网点、信息和资本等方面的优势。在此基础上，作者结合这两类银行各自的特点，对它们的现状及存在的问题进行了剖析。
中国现行的分业经营制度对商业银行中间业务产生制度性约束。分业制度束缚了中间业务的创新及盈利水平。在中国金融市场日益开放的情况下，我国商业银行中间业务创新能力的不足拉伸了与外资商业银行之间的差距。为提高竞争力，各商业银行开展各种新兴中间业务，从而绕开分业制度的限制，实现一定程度的综合经营。对中间业务的外部需求与商业银行的内在动力共同推动商业银行中间业务的发展，客观上要求管理层进行制度创新，放松对中间业务的管制，并以此搭建起一座通往全能银行的桥梁。
Commercial banks' intermediary business is a old and developing business. From the initial exchange and keeper to now, the intension of commercial banks' intermediary business has changed giganticly. Commercial banks' intermediary business has become one of commercial banks' mainstays. From the systematic factor for the development of commercial banks' intermediary business, this paper aim to study the way to develop commercial banks' intermediary business.
First, in connection with international financial system's revolution, the history of commercial banks' intermediary business is analyzed, from which can we know that the principle of business seperation has negetive effect on the development of commercial banks' intermediary business. Just the loosen of the principle of business seperation that gives more chance to the development of intermediary business of commercial banks.
Commercial banks' intermediary business reflects the level of commercial banks' management So, the economy of scope gives an evidence for commercial banks' intermediary business' development. After analysis, the result comes out: Because the Four Big is strong in its scope of economy, they have tremendous space for intermediary business. The capability comes from their big sales network and other factors. While the other smaller banks, for the lack of sales network and capital, etc, have little space for intermediary business. So, different measures should be applied to the two kinds banks respectively.
The principle of business seperation in China restricts Chinese commercial banks' intermediary business systematically. It gives a curb on the innovation of commercial banks' intermediary business. So, banks' profit is contracted. That enlarged the difference between Chinese banks and foreign banks. To improve competence, commercial banks strike to more new intermediary business. Huge demand for intermediary business has pushed intermediary business to develop more fastly, and at the same time, requires some change in existing principle of business seperation. In a word, the development of intermediary business should aim to compound instrument which at the intersection of commercial banks and other financial market business. On the base of that, the way to universal bank can be bridged.
引文
[1] 李莹．外资银行已成为我国金融体系重要力量．金融时报，01／08／2003
[2] 董寿昆．货币自由兑换理论与实践—国际货币流通论．北京：中国金融出版社，1996
[3] Kindleberger, Charles P. A Financial history of Western Europe. Boston: Allen and Unwin, 1984
[4] 十国集团中央银行研究小组．国际金融业务创新．上海：上海译文出版社，1990
[5] Rose S Peter. Money and capital markets: The financial system in the economy. Richard D. Irwin, 1996
[6] Rose S Peter. Banking across state lines: Public and private consequences. Westport Conn: Quorum books, 1997
[7] Haubrich, Joseph, James B Thomson. The evolving loan sales market. Economic Commentary, 1993, (7): 1-6
[8] James, Cristopher. Off-Balance-Sheet Banking. Economic Review, 1987, 4(4): 21-36
[9] Hunter William, Stephen G Timme. Concentration and Innovation: Striking a Balance in regulation. Economic Review, 1987, (2): 11-20
[10] 刘园．商业银行表外业务及风险管理．北京：对外经济贸易大学出版社，2000
[11] 郑先炳．西方商业银行最新发展趋势．北京：中国金融出版社，2001
[12] Federal Reserve Bank of Chicago. Product Mix and Earnings Volatility Commercial Banks: Evidence from a Degree of Leverage Mode. Economic Review, 1999, (8): 112-122
[13] 胡章宏．欧洲商业银行中间业务的发展变化及其启示．国际金融研究，2001，(12)：32-37
[14] 陈浪南，丰翔．网络银行的经营策略研究．国际金融研究，2002，(1)：73-79
[15] 何韧．花旗银行在亚太地区的跨国经营战略分析．国际金融研究，2002，(3)：39-42
[16] 陈野华．西方货币金融学说的新发展．成都：西南财经大学出版社，2001
[17] 颜世廉，邵新力，丁华南．国际结算．长沙：中南工大出版社，1996
[18] 钱小安．金融创新因果．北京：中国金融出版社，1999
[19] George J Benston, Clifford W Smith. A Transaction cost approach to the theory of financial intermediation. The Journal of Finance, 1992,11 (3): 102-113
[20] Boyd J, Prescot E C. Financial intermediation coalitions. Journal of Economic Theory, 1986, 38(2): 211-232
[21] H E Leland, D H Pyle. Information asymmetries, financial structure, and fmancial Intermediation. The Journal of Finance, 1977, 32(2): 71-88
[22] Hishleifer D. Resedual risk, trading costs and commodity futures risk premia. Review of Financial studies 1, 1998(11): 173-193
[23] Campbell T S, Kracaw W A. Information production, market signaling, and the theory of financial intermediation. Journal of Finance, 1980, (35): 863-822
[24] Donglas W Diamond. Financial intermediation and delegated monitoring. Review of Economic Studies, 1984, (1): 393-414
[25] Lawrence B P, Yale M B. A composite cost function for multiproduct finns with an application to economics of scope in banking. The Review of Economics and Statistics, 1992, 74(3): 221-230
[26] Saunders, Anthony, Ingo Walter. The universal banking in the United States. New York: Oxford University Press, 1994
[27] Bhargava, Rahul, Fraser. On the wealth and effects of commercial bank expansion into securities underwriting: An analysis of Section 20 subsidies. Journal of Banking and Finance, 1998, 22(1): 447-465
[28] 陈秋云，李景吉．我国商业银行中间业务发展研究．经济问题，2001，(12)：15-20
[29] 杜莉，王锋．中国商业银行范围经济状态实证研究．金融研究，2002，(10)：31-37
[30] 朱雁萍，郭伟．关于我国商业银行表外业务的几点思考．中央财经大学学报，2001，(10)：23-25
[31] 李云庆．商业银行中间业务．兰州：兰州大学出版社，1999
[32] 王延春．银行中间业务收费如何定价?—访国务院发展研究中心市场经济研究所赵怀勇．中国税务报，08／06／2002
[33] 中国工商银行广东省分行课组．商业银行金融产品创新和整合的策略及建议．金融论坛，2002，(10)：34-41
[34] John B Westwood, Christopher P Holland. Bigger is Beautiful. Education Guardian, 2000, (3): 58-69
[35] 周战强，王子健．银行业的世贸规则及国际惯例．北京：中国言实出版社，2001
[36] 于海．现阶段中国新兴商业银行面临的困难与挑战．金融研究，2000，(7)：117-123
[37] 金融改革与金融安全课题组．银行业开放与国有独资商业银行改革．金融与保险，2002，(7)：25-30 ‘
[38] 胡章宏，范晓军．从世界1000家大银行最新排名看国际银行业的发展态势．现代商业银行导刊，2002，(10)：5-7
[39] 王元龙．加入WTO后的中国银行业发展战略研究．金融研究，2000，(3)：37-46
[40] 吴晓求．中国金融大趋势：银行证合作．北京：中国人民大学出版社，2002
[41] 金德环．2001中国金融发展报告．上海：上海财经大学出版社，2001
[42] 李玲．银保合作新领域：无追索权保理业务．金融与保险，2003，(1)：82-83
[43] 张炜，爱立信倒戈：中资银行感受倒春寒．金融与保险，2002，(6)：142-145
[44] 李云庆．商业银行中间业务．兰州：兰州大学出版社，1999
[45] 徐洪水．西方银保融通发展的动因分析及其借鉴意义．深圳金融，2002，(4)：44-47
[2] 董寿昆．货币自由兑换理论与实践—国际货币流通论．北京：中国金融出版社，1996
[3] Kindleberger, Charles P. A Financial history of Western Europe. Boston: Allen and Unwin, 1984
[4] 十国集团中央银行研究小组．国际金融业务创新．上海：上海译文出版社，1990
[5] Rose S Peter. Money and capital markets: The financial system in the economy. Richard D. Irwin, 1996
[6] Rose S Peter. Banking across state lines: Public and private consequences. Westport Conn: Quorum books, 1997
[7] Haubrich, Joseph, James B Thomson. The evolving loan sales market. Economic Commentary, 1993, (7): 1-6
[8] James, Cristopher. Off-Balance-Sheet Banking. Economic Review, 1987, 4(4): 21-36
[9] Hunter William, Stephen G Timme. Concentration and Innovation: Striking a Balance in regulation. Economic Review, 1987, (2): 11-20
[10] 刘园．商业银行表外业务及风险管理．北京：对外经济贸易大学出版社，2000
[11] 郑先炳．西方商业银行最新发展趋势．北京：中国金融出版社，2001
[12] Federal Reserve Bank of Chicago. Product Mix and Earnings Volatility Commercial Banks: Evidence from a Degree of Leverage Mode. Economic Review, 1999, (8): 112-122
[13] 胡章宏．欧洲商业银行中间业务的发展变化及其启示．国际金融研究，2001，(12)：32-37
[14] 陈浪南，丰翔．网络银行的经营策略研究．国际金融研究，2002，(1)：73-79
[15] 何韧．花旗银行在亚太地区的跨国经营战略分析．国际金融研究，2002，(3)：39-42
[16] 陈野华．西方货币金融学说的新发展．成都：西南财经大学出版社，2001
[17] 颜世廉，邵新力，丁华南．国际结算．长沙：中南工大出版社，1996
[18] 钱小安．金融创新因果．北京：中国金融出版社，1999
[19] George J Benston, Clifford W Smith. A Transaction cost approach to the theory of financial intermediation. The Journal of Finance, 1992,11 (3): 102-113
[20] Boyd J, Prescot E C. Financial intermediation coalitions. Journal of Economic Theory, 1986, 38(2): 211-232
[21] H E Leland, D H Pyle. Information asymmetries, financial structure, and fmancial Intermediation. The Journal of Finance, 1977, 32(2): 71-88
[22] Hishleifer D. Resedual risk, trading costs and commodity futures risk premia. Review of Financial studies 1, 1998(11): 173-193
[23] Campbell T S, Kracaw W A. Information production, market signaling, and the theory of financial intermediation. Journal of Finance, 1980, (35): 863-822
[24] Donglas W Diamond. Financial intermediation and delegated monitoring. Review of Economic Studies, 1984, (1): 393-414
[25] Lawrence B P, Yale M B. A composite cost function for multiproduct finns with an application to economics of scope in banking. The Review of Economics and Statistics, 1992, 74(3): 221-230
[26] Saunders, Anthony, Ingo Walter. The universal banking in the United States. New York: Oxford University Press, 1994
[27] Bhargava, Rahul, Fraser. On the wealth and effects of commercial bank expansion into securities underwriting: An analysis of Section 20 subsidies. Journal of Banking and Finance, 1998, 22(1): 447-465
[28] 陈秋云，李景吉．我国商业银行中间业务发展研究．经济问题，2001，(12)：15-20
[29] 杜莉，王锋．中国商业银行范围经济状态实证研究．金融研究，2002，(10)：31-37
[30] 朱雁萍，郭伟．关于我国商业银行表外业务的几点思考．中央财经大学学报，2001，(10)：23-25
[31] 李云庆．商业银行中间业务．兰州：兰州大学出版社，1999
[32] 王延春．银行中间业务收费如何定价?—访国务院发展研究中心市场经济研究所赵怀勇．中国税务报，08／06／2002
[33] 中国工商银行广东省分行课组．商业银行金融产品创新和整合的策略及建议．金融论坛，2002，(10)：34-41
[34] John B Westwood, Christopher P Holland. Bigger is Beautiful. Education Guardian, 2000, (3): 58-69
[35] 周战强，王子健．银行业的世贸规则及国际惯例．北京：中国言实出版社，2001
[36] 于海．现阶段中国新兴商业银行面临的困难与挑战．金融研究，2000，(7)：117-123
[37] 金融改革与金融安全课题组．银行业开放与国有独资商业银行改革．金融与保险，2002，(7)：25-30 ‘
[38] 胡章宏，范晓军．从世界1000家大银行最新排名看国际银行业的发展态势．现代商业银行导刊，2002，(10)：5-7
[39] 王元龙．加入WTO后的中国银行业发展战略研究．金融研究，2000，(3)：37-46
[40] 吴晓求．中国金融大趋势：银行证合作．北京：中国人民大学出版社，2002
[41] 金德环．2001中国金融发展报告．上海：上海财经大学出版社，2001
[42] 李玲．银保合作新领域：无追索权保理业务．金融与保险，2003，(1)：82-83
[43] 张炜，爱立信倒戈：中资银行感受倒春寒．金融与保险，2002，(6)：142-145
[44] 李云庆．商业银行中间业务．兰州：兰州大学出版社，1999
[45] 徐洪水．西方银保融通发展的动因分析及其借鉴意义．深圳金融，2002，(4)：44-47