企业资金松紧度指标体系构建在宏观审慎管理中的应用研究

The Construction of Enterprise's Fund Tightness Index System and Its Application in Macro-prudential Management

企业资金松紧度直接关系到企业生产经营的景气度,是宏观审慎政策的重要参考指标。本文从宏、中、微观三个层面选取指标,创建了重庆市企业资金松紧度综合评价指数,在此基础上建立预警机制,结合宏观审慎管理与企业资金之间的关系,实证分析了宏观审慎政策工具(广义信贷与市场利率)对企业资金松紧度的影响以及企业资金松紧度对金融风险的影响,最后进行评估总结,以期为宏观决策提供有益参考。

The enterprise's fund tightness index is directly related to the prosperity degree of its production andoperation,which is also an important reference index of macro-prudential policy.This paper chooses the indicatorsfrom the macro,medium and micro levels,and creates the comprehensive assessment index of the enterprise's fundtightness in Chongqing.On this basis,the early warning mechanism is established,and combining with the relationshipbetween macro-prudential management and enterprise's fund,it empirically analyzes the impact of policy tools(broadcredit and Shibor)on enterprise's fund tightness index and the impact of enterprise's fund tightness index on financialrisks,and then concludes with assessment so as to provide useful reference for macroeconomic decision-making.