我国小企业的紧融资约束  

The Tight Financing Constraint Facing Small Businesses in China

作　　者：孙鳌[1] 

机构地区：[1]南方医科大学,广东广州510515

出　　处：《技术经济与管理研究》2014年第1期91-95,共5页Journal of Technical Economics & Management

基　　金：南方医科大学苗圃基金项目(2012E06)

摘　　要：紧融资约束是我国大多数小企业进一步发展所面临的瓶颈问题。其直接原因是信贷配给制下国有银行的自利性歧视,如企业规模歧视、治理结构歧视、所有权歧视、资金需求歧视和交易费用歧视等。其根本原因是我国的金融抑制和金融发展的水平偏低。重要的是,金融抑制往往是金融不发达的重要原因。因此,解决的办法主要有加强信用评价与管理、发展信用担保业、加强对国有银行贷款行为的规制、放松对民间融资的规制和在银行业中引入私人小银行等。其中,第三条措施是根源于国有银行的企业性质的,也是可以立即执行并在短期内见效的解决办法。Its immediate cause is the state-owned banks＇ self-interested discrimination under credit rationing, including the scale discrimination, the governance-structure discrimination, the ownership discrimination, the demand-for-fund discrimina- tion, and the transaction-cost discrimination. However, its root cause is the financing repression and low-level financing devel- opment in China. What matters is that the financing repression tends to be the cause of low-level financing development in China. The major solutions include credit audit and management, secured credit, strengthening regulations on the loan-making of the state-owned banks, deregulating underground financing, and allowing private small banks to enter into the banking. The third solution is rooted in the firm nature of the state-owned banks, and can be enforced immediately, and can solve the problem in the short run.

关 键 词：紧融资约束 信贷配给 企业贷款 金融抑制 

分 类 号：F270.3[经济管理—企业管理]