基于1996-2012年时间序列数据，本文建立向量误差修正(VEC)模型，并运用协整分析、Granger因果检验对人口老龄化与我国商业银行流动性的关系进行实证研究。结果表明，人口老龄化与我国商业银行流动性之间存在长期的均衡，人口老龄化每加剧1%，将引起商业银行贷存比降低0.0830%；误差修正机制使得短期内人口老龄化与我国商业银行流动性的非均衡状态逐步趋于均衡；人口老龄化是我国商业银行流动性的单向Granger原因。“,”Based on time-series data from 1996 to 2012, the paper makes an empirical research on the relationship between the ag-ing population and the liquidity of commercial banks in China by establishing VEC model, making the co-integration analysis and Granger causality test. The results show that there exists a long-term equilibrium between the aging population and the liquidity of commercial banks. That is, 1%increase in the aging population could decrease the LDR with a rate of 0.0830%. The error correction mechanism transfers the non-equilibrium state of the aging population and the liquidity of commercial banks in short-term into equilib-rium gradually. And the aging population is the unidirectional Granger cause of the liquidity of commercial banks.