PAGE\*MERGEFORMATII基于VARX模型的银行同业业务与经济发展实证研究-宏观经济视角摘要：银行同业业务是是经济发展下的新兴产物，它是商业银行在发展中演变出来的新业务，并且在商业银行的业务中扮演者越来越重要的角色。银行同业业业务针对金融同业客户进行合作，它的核心为同业资金的相互融通。当前，我国的银行同业业务在国家有关部门的扶持与鼓励下，蓬勃发展起来。在一般业务合作上，银行、证券和保险机构互为客户，相互之间提供融资便利和资金支持。与此同时，同业业务的规模也在壮大起来，但是同业业务结构没有完整性以及均衡性，它是以买入返售和同业存放为主，因此差异化明显。在资金运转上，同业存款的资金净流入与拆出、回购的资金净流出出现并存的现象。因此同业业务在目前还是有不少问题待解决，同质化现象也比较严重，存在着诸多风险。本文简单概述了银行同业业务的定义与起源、发展和现状，总结分析了银行对同业业务及金融市场严监管的现状；然后通过VARX模型的实证分析证明了对贸易融资同业业务出表的监管有效性存在不足及其对经济发展的影响；最后针对银行同业业务存在的问题和不足提出了一些解决措施。关键词：同业业务：VARX：同业业务出表。Abstract:Theinterbankbusinessisanewproductundertheeconomicdevelopment,itisanewbusinessdevelopedbycommercialbanksinthedevelopment,andplaysanincreasinglyimportantroleinthebusinessofcommercialbanks.Thebankingindustrycooperateswiththefinancialindustryclients,anditscoreisthemutualfinancingofinterbankfunds.Atpresent,thebankingindustryinourcountryisdevelopingvigorouslyunderthesupportandencouragementoftherelevantdepartmentsofthecountry.Ingeneralbusinesscooperation,banks,securitiesandinsuranceinstitutionsaremutualclients,providingfinancingfacilitiesandfinancialsupporttoeachother.Atthesametime,thescaleofthesamebusinessisgrowing,butthebusinessstructureisnotintegrityandbalance,itistobuybacksaleandpeerstorage,sothedifferenceisobvious.Intheoperationoffunds,thenetinflowoffundsofinterbankdepositsandthenetoutflowofthefundsfromthedismantlingandrepurchasecoexist.Therefore,therearestillmanyproblemstobesolvedatpresent,thehomogenizationphenomenonisalsoserious,therearemanyrisks.Thispaperbrieflysummarizesthedefinitionandorigin,developmentandcurrentsituationofinterbankbusiness,andsummarizesthecurrentsituationofstrictsupervisiononinterbankbusinessandfinancialmarket.Then,throughtheempiricalanalysisofvarxmodel,itprovesthattheregulatoryeffectivenessofthetradefinancinginterbankbusinessisinsufficientanditsimpactoneconomicdevelopment;Finally,aimingattheproblemsandshortcomingsoftheinterbankbusiness,putforwardsomesolutions.Keywords:interbankbusiness:varx:interbankbusinessouto