作　　者： ;

机构地区： 中国人民银行广州分行

出　　处： 《西南金融》 2019年第10期57-65,共9页

摘　　要： 解决小微企业融资难、融资贵问题的关键在于,要运用市场化方式完善金融服务小微企业激励机制,在充分发挥货币当局、金融监管部门、地方政府等各自作用的同时,尊重金融机构的市场主体地位和合理利益诉求,通过一系列外在政策措施的引入,修正金融机构的利益目标函数和预算约束条件,让金融机构在修正后的决策框架下自主决策金融资源配置,使得金融机构在缓解小微企业融资难、融资贵过程中也能够最优化自身利益,进而实现小微企业价值创造的最大化。为此,本文从完善金融服务小微企业激励机制的角度,重新检视我国小微企业融资难、融资贵的原因,深入剖析运用市场化方式构建和完善金融服务小微企业激励机制的关键要点,并据此提出若干建议,以期为金融支持小微企业高质量发展提供参考。 The key to solving the problem of financing difficulties and high financing costs for SMEs is to use market-based methods to improve the incentive mechanism for SMEs in financial services,and to give full play to the respective roles of monetary authorities,financial regulatory authorities,and local governments,while respecting the market subject position and reasonable interests of financial institutions.Through the introduction of a series of external policy measures,the financial institution's interest objective function and budget constraints are revised,so that financial institutions can make financial decisions in the revised decision-making framework.In this way,finan.cial institutions can also optimize their own interests in the process of alleviating the financing difficulties and high financing costs of SMEs,so as to maximize the value creation of SMEs.On this end,this paper re-examines the rea.sons for the financing difficulties and high financing costs of SMEs in China from the perspective of improving the in.centive mechanism of SMEs in financial services,and deeply analyzes the key points of using market-based meth.ods to construct and improve the incentive mechanism for SMEs in financial services.Based on this,a number of sug.gestions are made to provide a reference for financial support for the high-quality development of SMEs.

关 键 词： 小微企业融资 融资约束 融资激励 微型金融 融资成本 金融资源配置 信息不对称 监管激励 政策激励 金融支持小微企业 金融支持实体经济 风险防控 金融供给侧结构性改革

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