We analyze the lending cyclicality of 213 ASEAN commercial banks over the period 2001–2015. The findings indicate that lending by private banks is procyclical while lending by state banks is countercyclical. Long-term liabilities also move countercyclically for state banks whereas funding for non-state banks in the form of deposit and long-term liabilities is procyclical. Greater lending cyclicality is observed for both private and state banks in Cambodia, Myanmar, Laos, and Vietnam (CMLV) compared to Indonesia, Malaysia, the Philippines, Thailand, and Singapore (ASEAN-5). Lending of non-ASEAN based foreign banks shows greater procyclicality than that of domestic banks for the ASEAN-5 countries, although not for the CMLV countries. During the global financial crisis, lending by non-ASEAN based foreign banks contracted sharply even as lending by ASEAN based foreign banks was unaffected. Overall, our results confirm that bank ownership influences lending and funding sensitivity to economic fluctuations.

我们分析了2001-2015年间213家东盟商业银行的贷款周期。调查结果表明，私人银行的贷款是顺周期的，而国有银行的贷款是反周期的。国有银行的长期负债也呈反周期移动，而以存款和长期负债的形式为非国有银行提供的资金具有周期性。与印度尼西亚，马来西亚，菲律宾，泰国和新加坡（ASEAN-5）相比，柬埔寨，缅甸，老挝和越南（CMLV）的私人和国有银行的借贷周期性都更大。对于非东盟五国而言，非东盟外资银行的贷款具有比国内银行更大的顺周期性，尽管对CMLV国家而言却不是。在全球金融危机期间，非东盟外资银行的贷款大幅收缩，即使东盟外资银行的贷款不受影响。总体而言，我们的结果证实，银行所有权会影响贷款和资金对经济波动的敏感性。