转轨经济中的双重信贷配给与中小企业融资问题分析.docx

摘要
中国经济体制正处于渐进转轨过程中,特定的转轨过程与转轨方式对中国的信贷市场提出了特定的要求。与英美等发达国家的融资体系相比,中国至今仍然是以银行信贷作为企业融资的主要形式。因此,银行信贷供给对企业信贷需求的满足程度将在很大程度上影响社会的投资需求和中国的经济发展。然而,改革开放以来,我国商业银行信贷资金的供给与企业资金需求之间的矛盾从来没有停止过。特别是,在近年来中小企业对国民经济的贡献率不断上升的情况下,其发展却在很大程度上受到银行信贷配给的约束,普遍存在中小企业的“融资难”。
面对信贷资金持续不断的供求矛盾,尤其是中小企业长久以来的融资难,本文拟研究转轨经济中的信贷配给现象,以及其产生的制度根源,分析中小企业“融资难”的深层次原因,以期为缓解中小企业的“融资难”和进一步完善信贷市场提出相应的政策建议。
本文按照提出问题——分析问题——解决问题的思路,首先分析了经济转轨
时期中小企业融资困难的现状,然后带着这个问题讨论了信贷市场中的信贷配给现象。我们认为,与中国经济转轨的特征相适应,当前的信贷配给表现出一种双重性,即计划与市场并存,其中计划性表现为金融抑制下的信贷配给,而市场性表现为金融自由化中的信贷配给。在回顾传统经济学信贷配给理论的基础上,本文论述了双重信贷配给产生的制度根源,即银行与政府目标的冲突、信用体系的缺失、软预算约束、信贷市场分割与信贷歧视以及中小企业自身融资体制缺陷。最后,我们在产生原因的基础上提出了相应的政策建议,以期能帮助打通中小企业的信贷融资渠道。
关键词:转轨经济信贷配给中小企业融资分类号:
Abstract
China is in the gradual transition period and the reform is a progress step by step. The particular characteristics of transition require particular credit pared with the financial systems of and the European countries,China still take the bank loan as its main the degree to which bank loan supply satisfies the credit demand of enterprise will affect the investment demand and economic development to great the antimony between credit supply and the credit demand never stopped since the reform and opening ,many small and
medium enterprises(SME)were restricted by credit rationing from the banks while they contribute more and more year by year tO civil SME face the problem of finance.
In the face of the continuous contradiction of credit fund,this paper is supposed to do some research on the phenomenon of credit rationing in the transition economy. We will also analyze the systematic reason of credit rationing and the reason why SME iS SO di历cult to obtain credit from banks.
This paper takes the clue of‘‘put forward the matter,analyze the problem and solve the problem”.Firstly,we discuss the current status of SME then we further analyze the credit rationing based on the previous point
out that,the credit rat