我們的研究旨在探討金融援助與銀行穩定性之間的關聯，重點著重在金融發展和宏觀審慎政策的管道。我們選擇了接受針對金融部門援助的受援國作為研究對象。這些國家通常面臨不穩定的經濟狀況，需要依賴外部援助來穩定經濟狀況或推動國家金融改革以重構其金融體系。我們使用固定效應的多元迴歸模型，並採用兩階段最小平方法來控制內生性問題。研究發現，增加針對金融部門的援助會使得不良貸款和違約風險顯著增加，造成銀行穩定性下降。此外我們的研究結果強調了金融發展和宏觀審慎政策在調節金融援助對銀行穩定性影響中的關鍵作用。這項研究揭示了相關機制，為銀行改善其金融發展以及政策制定者提升宏觀審慎政策的有效性提供了寶貴的見解。;Our study aims to examine the linkage between financial aid and bank stability, focusing on the channels of financial development and macroprudential policy. We select those recipient countries particularly emphasizing those receiving aid targeted at the financial sectors, as the subjects of the research. These countries often face economic instability and rely on external aid to stabilize their economic conditions or promote national financial reforms to restructure their financial system. Applying multiple regression models with fixed effects and controlling for endogeneity concerns through the 2SLS method, we find that increasing financial sector-targeted aid is connected with a significant rise in nonperforming loans and default risk, indicating a reduction in bank stability. Furthermore, our findings highlighted the critical roles played by financial development and macroprudential policy in mediating the impact of financial aid on bank stability. This study sheds light on the mechanisms involved, providing valuable insights for banks to improve their financial development and for policymakers to enhance the effectiveness of macroprudential policies.
