毕业论文（模板）(7)

fiscal deficit, which boils down to improving the whole set of macroeconomic variables and macroeconomic management.

5. Conclusion

Banks’ interest margin has remained on the higher side throughout the previous decade. Policy efforts initiated in January 2008 to contain the margin have yet to yield dividends. Moreover, this policy effort seems directed more at improving the welfare of depositors than encouraging savings and investment. The study finds that the (i) government’s short-term debt—which is an attractive investment avenue for banks—and (ii) the share of interest-insensitive deposits are the two primary determinants of the high interest margin. Thus, the present structure of banks’ assets and liabilities keeps the margin on the higher side. Given the determinants of and the ways in which this margin might be contained, the process is likely to prove a tall order.

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