关键词: 经济政策不确定性, 银行集中度, 银行风险, 调节效应

Abstract:  Based on the quarterly panel data of 30 listed commercial banks in 2007-2018, this paper discusses the relationship between economic policy uncertainty, bank concentration and different kinds of bank risk. The research results show that: (1) Economic policy uncertainty will increase operation risk and credit risk of banks, but it will reduce banks' risktaking. (2) Bank concentration will increase operation risk and credit risk of banks, but its impact on banks' risktaking is not significant. (3) Bank concentration can moderates the impact of economic policy uncertainty on bank risk. As bank concentration increases, economic policy uncertainty will further increase operation risk and credit risk of banks, but it will further weaken banks' risktaking. This paper uses different bank concentration variables and covers a variety of bank risk measurement indicators, showing the results are highly robust. Based on the empirical results, this paper gives some suggestions to policy makers and regulatory authorities on bank risk prevention and control.

Key words: economic policy uncertainty, bank concentration, bank risk, moderating effect