摘要
目前我国实体经济融资难本质上是货币供给总量充足情况下的金融资源结构错配,一些有发展前途的民营企业因为风险过大而融资无门,只能依靠民间资金借贷甚至非法集资来挽救资金链,而一些大型国有企业连年亏损却能融到资金且盲目扩张与投资。由于金融资源错配导致的全要素生产率的减损效应,正成为我国经济发展的"拦路虎"。我国金融资源供给与需求结构性错配现象产生的原因在于政府控制、社会信用缺失和商业信贷的间接作用,提出了金融市场化改革、扩大直接融资比重、健全社会信用体系、增加小微企业融资担保等改变金融错配的对策建议。
Currently, the essential point why China' s economic entities have difficulty in financing lies in the structural mis- match of the financial resources in the context of adequate currency supply. Some promising private enterprises fail to get finan- cing due to their great risks and have to rely on private lending or illegal funds to rescue the capital chains, while some big state enterprises can get enough money to blindly expand and invest despite their years' losses. The decline of total factor productivi- ty ascribed to the financial mismatch is turning out to be a hindrance to China' s economic development. The phenomenon of the structural mismatch between China' s financial resources supply and demand is due to the control from the government, a lack of social credit and the indirect influence of the commercial credit. Finally this essay puts forward suggestions and solu- tions which include financial marketization reform, enlarged direct financing proportion, a sound social credit system establish- ment and increased small company financing guarantee to change the phenomenon of financial mismatch .
出处
《对外经贸》
2016年第3期83-84,共2页
FOREIGN ECONOMIC RELATIONS & TRADE
关键词
金融资源
结构错配
融资
financial resources
structural mismatch
financing