CAJ | 학술논문

中国银行业的高利润究竟来源于行政垄断保护下的市场势力溢价，还是应对未来金融开放环境下的激烈竞争进行改革带来经营效率的提高，抑或是整体经济稳定增长的结果？通过对银行业系统市场势力和经营效率测度发现，银行业整体存在着较高的系统性市场势力溢价，且规模弹性小于1；银行业整体效率低下，全要素生产率平均增长为负值；银行业的高利润主要来源于行政垄断造成的行业系统性市场势力，而非因改革带来的效率提高，GDP的增长一定程度上促成了银行业的高利润。
중국은행업적고리윤구경래원우행정롱단보호하적시장세력일개，환시응대미래금융개방배경하적격렬경쟁진행개혁대래경영효솔적제고，억혹시정체경제은정증장적결과？통과대은행업계통시장세력화경영효솔측도발현，은행업정체존재착교고적계통성시장세력일개，차규모탄성소우1；은행업정체효솔저하，전요소생산솔평균증장위부치；은행업적고리윤주요래원우행정롱단조성적행업계통성시장세력，이비인개혁대래적효솔제고，GDP적증장일정정도상촉성료은행업적고리윤。
The high profit of Chinese banking industry is derived from power market under administrative monopoly, or responds to future financial open environment of fierce competition of reform brought about the improvement of operating efficiency, or the overall economic stability growth results .9 we estimate market power and the efficiency of the Chinese banking system. The results show that, the industry as a whole exists a higher level of systemic market power and the elasticity of scale is less than 1 ; the banking sector is inefficient as a whole, and the average total factor productivity growth is negative; the high profits of the banking sector come from systemic market poser, rather than the efficiency gains brought about by the reforms, and GDP growth to a certain extent promote the realization of the high profits of the banking sector.