非国有经济投资减缓的原因探析——从企业融资角度的观察  

Inquiry into the Reasons Why the Investment of the Non-State Owned Economy Descends——Observed From Enterprises' financing

作　　者：常玉春[1] 曹霞[1] 

机构地区：[1]中国建设银行湖南省分行,湖南长沙410001

出　　处：《财经理论与实践》2002年第5期60-65,共6页The Theory and Practice of Finance and Economics

摘　　要：从微观的角度看 ,宏观经济环境不稳定时企业融资能力的下降、二元金融结构下的信贷配给 ,以及商业银行体制改革过程中自我约束能力的增强 ,已成为抑制非国有经济投资增长的重要因素。其结果是 ,银行仍倾向于以配给的方式分配信贷资源 ,资金供求无法达到市场出清水平 ,调低利率难以缓解非国有经济投资增长的困境。因此 ,在真正的市场机制尚未建立以前 ,企图通过利率政策调整显著改善非国有企业的投融资环境 ,需要政府放宽限制 ,维护公正的市场秩序 ,以及财政、税收等方面政策的积极配合。From the perspective of micro-economy,the descent of enterprises' abilities of financing in an unsteady macro-economy environment,the credit ration under the dual financial system,and the reinforcement of the self-constraint of commercial banks during the system reform,have all become important factors of restricting the investment growth of non-state owned economy.The results are that banks still tend to distribute credit resources by rationing;meanwhile,the supply and demand of capital still cannot be equilibrated;and lowering the interest rate can hardly improve the hardship of the investment growth of non-state owned economy.So,before the perfect market system is set up,government needs to relax restraints,upholds the justice market orders,and cooperates actively with financial and revenue departments in order to greatly improve the investment and financial environment of non-state owned enterprises by the interest rate policy reform.

关 键 词：非国有经济 投资 企业 融资 信贷配给 商业银行 

分 类 号：F832.4[经济管理—金融学] F275.1