| 中小企业不同渠道的贷款市场均衡利率及其影响因素 |
| Equilibrium interest rate of small and middle-sized enterprises' loan market and its influencing factors in different channels |
| 摘要点击 184 全文点击 0 投稿时间：2020-06-29 修订日期：2022-10-14 |
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| 中文关键词 Walras均衡模型;代际联系;委托贷款;市场均衡利率 |
| 英文关键词 Walras equilibrium model; intergenerational link; entrusted loans; equilibrium interest rate |
| 基金项目 国家社科基金重大项目；陕西省社科界2020年度重大理论与现实问题研究项目 |
| 作者 | 单位 | 邮编 | | 晏文隽 | 长安大学 | 710054 | | 刘益* | 长安大学 | 710054 | | 郭菊娥 | 西安交通大学 | |
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| 中文摘要 |
| 分别构建了银行贷款和有代际联系的企业委托贷款的Walras均衡模型，研究了银行贷款与企业间委托贷款的市场均衡利率。研究发现：中小企业债务融资主体为银行时，市场均衡利率为社会最优，且市场均衡利率受融资需求正向影响，资金供给的负向影响。中小企业债务融资主体为另一成功企业时，存在代际关系的动态委托贷款市场均衡利率终会达到供需相等的稳态，而稳态下市场均衡利率随融资需求增加而增加，但该利率不是社会最优；且后一期获得贷款的中小企业数量会受前一期数量的正向影响。相比银行，委托贷款市场均衡利率对贷款需求的敏感性更高。 |
| 英文摘要 |
| This paper constructs the walras equilibrium model of bank loans and the walras equilibrium model of entrusted loans of enterprises with inter-generational connection respectively, and studies the comparison between the market equilibrium interest rate of bank loans and the market equilibrium interest rate of entrusted loans of enterprises. It is found that when banks are the debt financing subjects of small and middle-sized enterprises, the market equilibrium interest rate is the best in society. Moreover, the increase of financing demand of small and middle-sized enterprises will increase the market equilibrium interest rate, while the increase of bank capital supply will reduce the market equilibrium interest rate.When other successful enterprises are the debt financing subjects of small and middle-sized enterprises, the entrusted loans market equilibrium interest rate with inter-generational relationship will eventually reach a steady equilibrium, and it is not the best in society under the condition of market equilibrium. In addition, the increase of financing needs of small and middle-sized enterprises can increase the market equilibrium interest rate under the steady equilibrium.Besides,the market equilibrium interest rate of entrusted loan is more sensitive to the demand for loans. |
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