货币政策对我国中小企业信贷约束的影响研究【毕业论文】.docVIP

暨南大学硕士学位论文 摘要 虽然中小企业数量多、涉及面广，且对我国经济社会发展做出了巨大的贡献，但是在 获取信贷融资方面却始终处于弱势地位。中小企业的信贷资金需求难以获得商业银行等金 融机构的有效供给，严重阻碍了中小企业的发展壮大和产业转型升级，也不利于宏观金融 稳定和经济增长。2008 年金融危机，中小企业纷纷破产倒闭的现实已经充分印证了我国中 小企业信贷约束的严重危害。虽然近年来国家和银行都采取了一系列意在扶持中小企业发 展的举措，但现实数据表明我国中小企业面临的信贷约束状况仍不容乐观。然而，对中小 企业融资问题的研究可谓浩繁，专门针对中小企业信贷约束问题的研究则并不多见。因此， 本文把我国中小企业信贷约束问题作为研究主题，分析我国中小企业信贷约束的现状及成 因，探析宏观货币政策冲击对中小企业信贷约束的影响，以及货币政策对中小企业与大型 企业信贷约束影响的差异分析，在此基础上提出有效缓解中小企业信贷约束的对策建议。 本文用微观的中小企业板上市公司 2007-2012 年的财务数据和宏观的货币政策数据进行实 证分析，发现我国货币政策对中小企业信贷约束存在显著影响，其中信贷渠道传导效应显 著，利率渠道则对中小企业存在挤出效应，且货币政策对中小企业信贷约束的影响明显大 于其对大型企业的影响。除政府部门实行差异化货币政策以加大对中小企业的扶持力度， 以及商业银行有针对性地提高对中小企业的服务质量外，中小企业也需要进一步加强自身 建设，增强核心竞争力。 关键词: 货币政策 中小企业 信贷约束 差异化 I 暨南大学硕士学位论文 Research on the Impact of the Monetary Policy to the SMEs’ Credit Constraint in China Abstract Although small and medium-sized enterprises (SMEs for short) have a huge quantity, wide range and also have made great contributions to economic and social development in our country, they are always in a weak situation awkwardly when it comes to the access to credit financing. SMEs’ credit demand can not be satisfied effectively by commercial banks and other financial institutions, it is bad for the development of the SMEs, the industrial transformation and upgrading, and the macro financial stability and economic growth, this can not be ignored. In the 2008 financial crisis, the fact that SMEs closed down one after another has fully demonstrated the serious harm of the credit constraints to SMEs in our country. Even though our country and the commercial banks have adopted a series of measures for supporting the development of SMEs in recent years, but the real data shows that SMEs in China still face more severe credit constraints than other countries. When I found that the study of SMEs’ financing problem is voluminous, but there are only a few specifical researches on SMEs’ credit constraints problem. I came up with this paper, and establish the problem of SMEs’ credit constraints in our country as the subjec