渐进式改革、金融产权与转轨时期的银企关系

The Gradual Reform,the Property Rights of Finance and the Relationship between Banks and Enterprises

中国的渐进式改革要求为国有经济提供稳定的资金来源以使经济平稳增长 ,由此金融产权安排就具有产权国有和市场垄断的特征。银企关系作为垄断性国有金融产权的产物 ,必然具有双重属性、双重约束、双重调节和双重市场的特点 ,并在债权债务约束、利率机制作用以及经济政策效力等方面表现出其内在缺陷。由此出发 ,重塑银企关系的关键是改革垄断性的国有金融产权 ,即在增量方面推进民营经济的内生性融资方式扩张 ,在存量方面对国有银行和国有企业实施分类的股份化改造。

The gradual reform have to provide fund for the SOEs to develop economy steadily, then form the property rights of finance that is characterized by monopoly and state\|own, so the relationship between banks and enterprises has the low efficiency in many factors. We should improve the property rights of finance to adjust the special relationship, which means to develop non\|state\|owned economy and to perform stock\|system reform in the state\|owned economy.