中小企业信贷配给的综合模型

A Comprehensive Model for the Credit Rationing of Small and Medium-sized Enterprises

本文将银行利润、银行利率、企业风险、企业规模作为内生系统变量纳入一个分析框架,建立一个竞争性市场下综合的信贷配给模型,重点研究不同风险类型的中小企业的信贷配给。模型揭示,多样性的信贷合同组合可以通过贷款利率、抵押品作为甄别机制而达到斯宾塞-莫里斯分离均衡,并分析了其存在的条件与范围,阐述了模型对中国金融系统改革悖论与中小企业信贷配给的现实启示。

In this paper,we incorporate the profit,interest rate, risk,scale of the enterprise of the bank as the endogenous systematic variables in to a frame work .A comprehensive credit rationing model under a competitive market is set up,and we focus on the research of the credit rationing of the small and medium-sized enterprises with different risks.The model shows that the interest rate and collateral in diversified credit contracts may be utilized as screening mechanism,Spence-Mirrlees separating equilibrium can be gained,and the condition and range for the existence of equilibrium is analysed.The paradox of the reform of financial system and the credit ration of small and medium-sized enterprists in China has been explained.