利率市场化:对国有商业银行、国有企业进行实质性变革

Marketlization of Interest Rate and Substantial Reformation of the State-owned Commercial Banks and Enterprises

本文认为,我国现阶段国有商业银行、国有企业存在的问题严重制约着利率市场化的实施。随着利率市场化的推行,国有商业银行、国有企业在产权主体缺位、约束机制不健全的条件下追求效用最大化,可能会产生更加严重的道德风险和逆向选择,给潜在借款人创造更多的“寻租”机会,导致内部控制现象进一步显现。文章提出,为切实推进利率市场化,必须改变国有银行垄断现状,明确国有商业银行金融产权制度,建立和完善国有商业银行法人治理结构,对国有商业银行进行实质性变革。同时要通过全面推进国有经济的战略性改组,改革国有企业产权制度,建立科学的企业法人治理结构,对国有企业进行实质性变革。

Serious problems existed in state-owned commercial banks and state-owned enterprises present obstacles to the implementation of marketlization of interest rate policy.In order to provide imputes to the marketlization of interest rate, some measures must be taken:first,to change the market situation that is now monopolized by state-owned banks,and to establish the modern corporate governance structure in state-owned commercial banks.Second,to push forward the strategic reorganization of public economy to establish the modern corporate governance structure in state-owned enterprises.