产能过剩、企业共生与信贷配给

On the Production Capacity Surplus, Firms Coexistence and Credit Rationing

本文在充分肯定和借鉴已有产能过剩研究成果的基础上,运用企业共生、信贷配给理论,从中观和微观层面简要分析了我国目前实际存在的三种产能过剩,即:大中型企业的生产资料过剩、中小及民营企业的“产能损耗”和银行的流动性过剩。研究结果表明,本轮涉及11个行业的产能过剩直接根源于过度投资和扭曲分配,间接增强于由信贷歧视所引发的企业共生系统的损害,而银行的流动性过剩则既是信贷配给导致前两者的重要起因,又是目前经济结构性过剩的货币表现。据此,本文给出了加快中小及民营企业信贷支持力度、修复企业共生关系,以低成本、全面消除产能过剩的政策建议。

By using theory of finn coexistence and credit rationing, this paper shows three kinds of production capacity surplus, raw material production surplus in large firms, production capacity consuming in small finns, and liquidity surplus in banks. The paper also shows that over investment is the major cause for production capacity surplus in 11 industries, credit discrimination damnages the finn coexistence system which deteriorates the production surplus, and banks＇ liquidity surplus is the cause and the outcome for production capacity surplus. Finally, some suggestions are put forward.