银行业如何支持实体经济的供给侧改革?——基于企业进入退出的视角  

How Does Banking Support the Supply? front Reform of the Real Economy? From the Perspectives of Entry and Exit of Firms

作　　者：吴晗[1] 贾润崧[2,3] 

机构地区：[1]南开大学经济学院,天津300071 [2]北京大学博士后科研流动站,北京100871 [3]中国银监会博士后科研工作站,北京100140

出　　处：《财经研究》2016年第12期108-118,共11页Journal of Finance and Economics

基　　金：国家社会科学基金项目(14BRK026);中央高校基本科研业务费专项资金(NKZXA1402)

摘　　要：当前中国经济已进入新常态,着力推进供给侧结构性改革是未来我国经济工作的主要内容。在此背景下,作为我国金融部门主体的银行业应如何支持实体经济的供给侧改革,真正实现提高金融服务实体经济效率的问题值得关注。文章利用我国工业企业数据探讨银行业结构如何推动行业全要素生产率的增长,研究结果表明:中小银行的发展可以改善信贷配置结构进而有效地降低行业资源的错配程度,提高行业生产率。中小银行的发展不仅可以提高"僵尸企业"的生存风险,迫使其退出市场,还可以缓解高效率企业生产扩张所面临的融资约束,促进高效率企业成长。因此,银行业结构的优化有利于信贷资源的优化配置,对化解"僵尸企业"难题、推动供给侧结构性改革具有重要意义。As current China has entered into the new normal,the great effort to ad-vance the supply-front structural reform is the main content of future economic work.Un-der this background,how banking as the principal part of financial sectors supports the supply-front reform of the real economy to really achieve the efficiency improvement of fi-nancial services to the real economy deserves attention.This paper uses the data of Chinese industrial firms to discuss the promotion impact of banking market structure on the in-crease in industry TFP.It states that the development of small and medium-sized banks can perfect the credit allocation structure,then effectively reduce industry resources misal-location and increase industry productivity.On the other hand,the development of small and medium-sized banks not only can raise the survival risks of zombie companies and force them to exit the market,but also can alleviate credit constraints faced by high-efficiency firms when expanding the production and promote the growth of high-efficiency firms. Therefore,the optimization of banking market structure is beneficial to optimal allocation of credit resources,and is of great significance to a solution to zombie companies and the advancement of the supply-front structural reform.

关 键 词：银行业结构 中小银行 僵尸企业 供给侧改革 

分 类 号：F832.1[经济管理—金融学]