解读中小企业贷款难理论谜团的新框架——租值耗散与交易费用视角

A New Framework to Explain the SMEs Credit Accessibility Puzzle:Perspective of Rent Dissipation and Transaction Cost

本文详细梳理了国内中小企业贷款难理论,并把这些理论归纳为银行市场结构论、所有制歧视(摩擦)论、企业规模歧视论和外环境缺陷论。虽然这些理论均能在一定程度上解释中小企业贷款难,但大多不够全面又相互割裂,这似乎是一个理论谜团。对此,文章站在租值耗散与交易费用的视角构建了一个分析中小企业贷款难的新框架,并在这一框架下重新解读国内中小企业贷款难理论,分析发现,这些理论大多可以由新框架导出。

This paper reviewed domestic scholars＇viewpoints about the SME＇s Credit Rationing, and attributed it to theories such as the banking market structure, the discrimination of ownership, the discrimination of scale, the exterior environment defects, etc. The authors also built a new framework in the perspective of rent dissipation and transaction cost. In the framework, the authors explained credit rationing about SMEs in China, and found out most of these theories can be reasoned by this framework.