信贷配给与国有企业金融困境

On the Relationship between Credit Ration and Financial Dilemma of State-owned Enterprises

从福利经济学角度,以Stiglitz和Weiss的信贷配给理论为基础,描述行政命令强制实施的配给政策对国有企业所造成的扭曲现象,指出判断国有企业数量是否合理的标准是:社会是否以最小的经济代价生产了必需的公共产品。

This paper, from the angle of welfare economics and on the basis of Stiglitz and Weiss' Credit Ration Theory, makes a description of the twisted phenomenon arising from the implementation of the government's mandatory credit ration policy for state-owned enterprises. According to the author, the criterion for judging whether the number of state-owned enterprises is reasonable lies in whether the society produces the needed public products at the minimum economic cost.