【作者】 王松华；

【导师】 何问陶；

【作者基本信息】 暨南大学 ， 金融学， 2009， 博士

【摘要】 1998年我国放开了信贷额度限制,开始实行信贷资产负债比例管理制度,因此本文研究的时间区间是从1998年至今。在回顾和评析国内外文献的基础上,对比分析了中西方信贷配给的特点,并结合我国实际情况对信贷配给双重性进行研究后,对其形成的原因重新做了划分,最后得出如下结论:1.信贷配给在中西之间的形成机制不同。西方早期的信贷配给是政府干预产物,而后期则是市场选择的结果,两种形成机制没有共存过。而在经济转轨中,计划和市场两种配置方式同时影响着信贷市场的运行,形成了我国转轨经济中特有的双重信贷配给,两者共存。2.不能照搬国外以政府干预或市场选择来作为划分非均衡信贷配给和均衡信贷配给的标准。对其双重性的界定,本文认为均衡信贷配给是信用缺失和银行股份制改革中的风险控制造成的,而非均衡信贷配给则是政府隐性干预和利率不完全市场化的产物。3.信用缺失衍生出信任型的信贷配给,其属于均衡信贷配给的一种。银行既在高端市场上无节制地实施信贷集中,又在低端市场用繁重的非信用保障条款配给数量相当的贷款。因此,我国的信贷配给是信任型的信贷配给。最后对其带来的信用缺失进行了度量。4.银行股份制改革和风险控制形成了另一种均衡信贷配给。在讨论了国有银行改革中机构的撤并对信贷配给的影响后发现:①银企间的地理距离越大,信息不对称程度越严重;②由银行机构撤并导致的银企间地理距离增大加剧了信息不对称,银行对企业实施更加严重的信贷配给。5.政府隐性金融干预是形成非均衡信贷配给的途径之一。在东、中部地区政府隐性干预下信贷配给的表现为对私营个体单位的贷款支持,对公有制经济单位的配给。而对于西部地区,政府隐性干预下信贷配给的表现为对公有制经济单位的贷款支持,对私营个体经济单位的配给。更多还原

【Abstract】 In 1998,China lifted line of credit restrictions,and began to implement asset liability ratio management.Therefore,time interval of this paper is from 1998 till now Based on retrospecting and analysising many references,we distinct characteristic of credit rationing both of Chinese and western country,research dual credit rationing according to Chinese real situation,and distinguish reasons of forming dual credit rationing,Some conclusion can be draw:1.The mechanism of rationing-formed between Chinese and westem is different. Early western rationg is result of government intervene,however credit of nowadays is choice of marketing itself,the two kind of credit never coexist with each other.In period of economic transition,however,allocation of planed economy and market economy co-effect operation of credit market,it formed Chinese dual credit rationing, two kinds of credit rationing can coexist.2.China do not differ disequilibrium credit rationing from equilibrium one according to whether it is result of government intervene or not as western countries. This paper consider equilibrium credit rationing is caused by discredit and risk-control in process of banking shareholding system reform,and disequilibrium one is the result ofgovnerment internene and interest rate non-marketization.3.Credit rationing based trust originates from discredit,it is a kind of equilibrium credit rationing.Banking implements credit concentration in high-end market and ration credit in low-end market using many discredit items.Therefore, China’s credit rationing is trust-based.4.Banking shareholding system reform and risk-control during this period formed the other kind of equilibrium credit rationing.After discussing the correlation between stated-owned banking decreasing its branches and credit rationing,we find widening distance between firm and bank resulting from state-owned commercial bank consolidation worsen the situation of asymmetric information,and banks carry. out geographical credit rationing.5.Hindered financial intervene can result in disequilibrium credit rationing.In east and midland,hindered financial intervention means upholding on private business and ration credit to stated-owned business;In west areas,however,hindered financial intervention means upholding on stated-owned business and ration credit to private business.更多还原