存款保險對金融危機、經濟成長與社會福利的影響

The Effects of Deposit Insurance on Financial Crisis, Economic Growth, and Social Welfare

10.6277/TER.2014.421.2

金志婷(Chi-Ting Chin)

存款保險 ； 金融危機 ； 經濟成長 ； 社會福利 ； deposit insurance ； financial crisis ； economic growth ； social welfare

經濟論文叢刊

42卷1期（2014 / 03 / 01）

23 - 48

繁體中文

Diamond and Dybvig (1983)發現存款保險不但可避免存戶擠兌、防堵金融危機的發生，透過採行最適的存款保險，甚至可使社會福利達到極大，不過，該文沒有考慮存款保險對經濟成長的影響。本文考慮了經濟內生成長的架構，發現存款保險將得以阻止單純由民眾預期所引發的銀行擠兌事件，最終有利於長期經濟成長。透過數值分析，我們發現：使得社會福利極大的最適存款保險為部分保障，而Diamond and Dybvig (1983)沒有考慮到存款保險提高經濟成長這項對社會福利的正面影響，導致該文低估最適的存款保險額度。

Diamond and Dybvig (1983) discovered that deposit insurance can prevent both bank runs and financial crises. Moreover, demand deposits might achieve the equilibrium that maximizes social welfare. However, Diamond and Dybvig (1983) neglected the growth effect of deposit insurance. This paper considers endogenous growth and finds that deposit insurance can prevent bank runs due to random withdrawals, resulting in a higher rate of economic growth. Through a simulation, this paper concludes that the optimal deposit insurance to maximize social welfare only offers partial protection, and Diamond and Dybvig (1983) underestimated this optimal deposit insurance since they did not consider the growth effect of deposit insurance.

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