特定金融风险时期的政府作为问题研究

Case Study of the Government Behavior in the Period of Particular Financial Risks

某市在本轮担保圈系统性信贷风险、关联企业濒临破产和银行竞相抽贷的市场失灵情形下,通过开展多元化施救和开放式重组,挽救多年来积累下来的企业优质资源,击破银行竞相抽贷、企业轮番破产的囚徒困境,并依据自愿和多方合作博弈,以较小代价处置区域金融风险。分析认为,地方政府在特定金融风险时期,在尊重市场规则的前提下,通过周密的规划和安排,可以在区域金融风险处置中发挥积极的组织、调控、协调和谈判等作用。

Under the condition of market failure that there is the systemic credit risk of the guarantee circle, the re- lated companies on the verge of bankruptcy and banks＇ competition for pulling out the loans, some city conducts a di- versified rescue plan and open merger to save the optimal resources accumulated over the years by the enterprises. Thus it broke the predicament of banks＇ pulling out the loans and enterprises＇ consecutive bankruptcy. And according to the voluntary game with multi-party cooperation, the regional financial risks are disposed at the lowest price. The analysis believes that in the period of particular financial risks and under the premise of respecting market rules, the local gov- ernment can play an active role of organization, regulation, coordination and negotiation in disposing of the regional financial risk through careful planning and arrangement.