中国影子银行对中小企业成长影响的实证分析

An Empirical Analysis of Shadow Banking's Effects on the Growth of SMEs

近年来,我国影子银行规模的扩张在一定程度上改变了中小企业的生存环境。量化研究影子银行体系对中小企业发展的影响及其作用机理表明,影子银行规模的扩张会对中小企业的数量、就业吸纳能力、税收贡献等产生影响。短期内,影子银行的发展对中小企业的发展呈现出负影响,但长期看,影子银行丰富了中小企业融资方式、拓宽了融资渠道,对中小企业的发展有明显促进作用。

In recent years,the scale expansion of China＇s shadow banking system has somehow changed the living environment of small and medium-sized enterprises（SMEs）.A quantitive study of the impacts from the expansion of China＇s shadow banking system on the development of SMEs shows that such expansion has both negative and positive effects on SMEs in such areas as employment,tax revenue and total number of SMEs.In the short term,the expansion of shadow banking has negative impacts on SMEs,but in the long run,it enriches the financing modes for SMEs,improves their financing channels and thus obviously promotes their development.