ẢNH HƯỞNG TƯƠNG TÁC GIỮA LẠM PHÁT VÀ THANH KHOẢN ĐẾN SỰ ỔN ĐỊNH CỦA NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN VIỆT NAM

Abstract

The acticle applied Fixed-effects Model (FEM), Random-effects Model (REM) and Panel-Corrected Standard Errors (PCSE) to examine the interaction effect between liquidity, inflation on stability in commercial bank operations, measured by Z-score. The research dataset was collected from financial statements of commercial banks and macroeconomic data of the World Bank for the 2012-2020 period. When inflation is high, maintaining a large number of liquid assets with poor profitability can reduce Z-score due to currency devaluation and by loss of potentially lucrative sources of income. The effect of inflation can still be positive in case liquidity is low. In contrast, maintain high liquidity can exacerbate the effects of inflation. The research results also suggest some important policies for the State Bank of Vietnam and commercial banks.