银行业竞争度、政策激励与中小企业贷款——来自14省90县金融机构的证据

Bank Competition,Policy Incentives and SME Lending:Evidence from County-level Financial Institutions in China

中小企业是推动中国经济转型和促进经济发展的重要力量,但"融资难、融资贵"问题一直是制约中小企业发展的重要因素。本文采用2005-2013年中国14省90县银行业金融机构的调查数据,探讨了市场竞争程度对中小企业贷款的影响,并结合当前的政策环境和激励制度为缓解中小企业融资问题提供新的视角。实证结果表明,市场集中度的降低并没有导致金融机构在定价能力和市场反应弹性等方面竞争程度的提高,而后者的提高有助于促进金融机构发放中小企业贷款。在此基础上,本文分别从逐步放开市场准入、增加贷款利率弹性、加快不良贷款核销和深化银行内部激励制度改革等四个方面提出建议,帮助金融机构对中小企业的贷款实现从"被动式放贷"向"主动式放贷"转变,充分发挥正规金融机构资金融通的职能。

Small and medium- sized enterprises arc playing an important part in improving the transition and development of China＇ s economy, however, they do not get enough financing from banks. Based on all financial institutions in 90 counties of 14 provinces from 2005 to 2013, this paper investigates the effect of bank competition on SME lending and offers a new perspective combined with government policies and incentive arrangements. Our findings show that the decrease of market concentration does not lead to the increase of market competition in terms of pricing capability and elasticity of profits to marginal cost, which has a positive effect on SME lending. According to this detailed survey data, we suggest regulatory authorities relax the limitation on the access of the banking industry, increase the elasticity of loan interest rate, accelerate the write - off of non - performing loans, and deepen the reforms of banks＇ incentive mechanism, which improves the transition of banks from passive lending to active lending.