The Study of Intrinsic Mechanism that State-owned Commercial Bank Credit Rationing Influences the Capital Allocation Efficiency
The capital allocation inefficiency has become an important factor that restricted Chinas sustained economic growth, long-term macroeconomic stability and low financial system risk. Along with the further reform and opening policy, the commercial bank credit rationing phenomenon is more obvious, it is easily viewed that, on the one hand there is overinvestment even malignancy capital increase in the stateowned major industry, on the other hand it is extremely difficult for the small and medium enterprise to get loan. This paper firstly establishes a two-stage state-owned commercial bank credit rationing model which is based on the bank manager and loan officers utility maximization, then analyzes the intrinsic mechanism of capital allocation inefficiency, finally on the base of the theoretical analysis, this paper proposes the related conclusion and suggestions of improving the capital allocation efficiency in China.
credit rationing capital allocation efficiency intrinsic mechanism state-owned commercial bank
Cheng-Liwei Meng Xue
School of Management Harbin Institute of Technology University Harbin, China
国际会议
大连
英文
1-4
2008-10-12（万方平台首次上网日期，不代表论文的发表时间）