新兴市场国家企业融资障碍比较——基于世界银行“企业问卷调查”数据的分析  

Comparative Studyof Enterprises' Financing Difficulties in Emerging Markets Based on the World Bank's“Enterprise Survey”Data

作　　者：粟勤[1,2] 张娜[2] 

机构地区：[1]对外经济贸易大学中小金融机构发展研究中心 [2]对外经济贸易大学金融学院

出　　处：《亚太经济》2016年第2期31-35,共5页Asia-Pacific Economic Review

基　　金：国家社会科学基金项目"基于金融包容视角的地区银行业市场结构与优化设计"(项目编号:15BJL027);北京市哲学社会科学规划项目"北京市小微企业金融服务与外地中小银行市场进入的影响"(项目编号:13JGB020)的支持

摘　　要：利用世界银行"企业问卷调查"数据对比分析新兴市场国家企业的融资障碍后发现:融资难是中国企业经营中面临的最大障碍,企业融资来源中内源融资比例更高,银行贷款比例和贷款可获得性更低、贷款条件更高。同时,法律保护和信用环境建设也不尽如人意。缓解企业融资难、融资贵问题需要制度建设,仅靠货币政策是难以解决的。Financing difficulty of small and micro enterprises is a worldwide problem, while the degrees vary in countries as different level of financial development and legal protection. With the World Bank~ s ＂En- terprise Survey＂ data, we make a comparative study of the enterprises＇ financing difficulties among emerging markets. The results suggest that, the biggest obstacle for Chinese enterprises is financing difficulties. Greater proportion of their financing counts on internal financing other than on bank loans, as bank loans are less available with harsher requirement. At the same time, legal protection and credit environment in China are yet to be improved. To tackle the issue, system construction rather than only monetary policies is required.

关 键 词：新兴市场国家 融资障碍 融资环境 

分 类 号：F832[经济管理—金融学]