Of Private Enterprise And State Enterprise Credit Rationing Level

Credit rationing in the credit markets is a common phenomenon, its performance forthe credit needs of borrowers who can not be fully met. The classic New Keynesian theoryof the credit rationing is S-W model, which explains that under the condition ofasymmetric information, the interest rate has a selection effect and incentive effect, theincentive effect of adverse selection effect and incentive effect will lead to moral hazardand adverse selection, ultimately lenders rationing credit has become a balancedphenomenon in the pursuit of maximizing their own profit goals. With Chinese economicpractice, the private economy has made leaps and bounds in the reform and opening upthree decades, from an economic proportion to total employment taxes have become animportant component of the socialist market economy, although the status of privateenterprises has been higher than ever before, but its development is still inevitably limitednumber of existing institutions, private enterprises which have always been the problem offinancing the academic and business community to explore and study the problem. Thereform of state-owned enterprises for decades formed the basic state-owned enterprises andprivate enterprises in monopoly industries at a competitive industry market structure, inthis system, the SW model can be drawn based on private enterprise credit rationingsuffered more serious conclusions. In this context, the party’s18again established theprice mechanism is the decisive force in the allocation of resources, thus acceleratingChina’s economic reform, should further deepen the reform for state-owned enterprisesand the banking system, the country will break the current monopoly system thedevelopment of the socialist market economy and contribute to improve.