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An Empirical Study On The Impact Of Local Government Intervention On Credit Resource Allocation Efficiency

Posted on:2020-03-31Degree:MasterType:Thesis
Country:ChinaCandidate:Y LingFull Text:PDF
GTID:2416330572466744Subject:Finance
Abstract/Summary:PDF Full Text Request
As the most important financial resources,the optimal allocation of credit resources has been concerned by researchers.The allocation of bank credit resources in China plays a vital role in the steady development of China's economy.Due to the severe impact of the financial crisis on China's economy,the overall economic development and transformation difficulties,backward production capacity,zombie enterprises,bank assets shortage and other issues continue to emerge,credit resources can not be efficiently allocated,how to effectively allocate credit resources is very urgent.Compared with some developed countries,governments in developing countries intervene more,and the role of local governments in China has always been concerned.In China,local governments often have more resources to intervene in the local economy,such as promoting GDP growth and stabilizing employment in the region through intervention in credit resources.Therefore,the impact of local government intervention on the allocation efficiency of credit resources needs to be analyzed in depth,which can bring enlightenment to optimize the allocation of credit.In the part of theoretical analysis,firstly,this paper summarizes the relevant theories and combs the literature.Secondly,this paper analyzes the institutional background,ways and the current situation of the local government intervention in the allocation of credit resources,and explores the factors of local government,then makes a theoretical analysis of the impact of local government intervention on the allocation efficiency of credit resources.At the same time,the research hypothesis is put forward.Under the background of tax-sharing reform in China,based on fiscal and tax incentives and promotion incentives,local governments will intervene in credit allocation by controlling banks,and influence credit allocation through implicit guarantees and local protectionism of enterprises,especially state-owned enterprises,thus affecting the efficiency of credit allocation.Local governments will disrupt the market mechanism of credit allocation.Finally,on the basis of the conclusion of the full text,this paper puts forward three policy suggestions on how to optimize the allocation of credit resources and improper government intervention in China from the perspective of government,market and enterprises:(1)to promote the transformation of local government functions,reform the performance appraisal system of government officials;(2)to accelerate interest rates.The pace of market-oriented reform,improve the development of the financial system;(3)improve the construction of enterprise credit system,optimize the management of information sharing channels.The main innovations of this paper are as follows: Firstly,it is more practical to analyze the relationship between the local government's behavior and the allocation efficiency of credit resources based on the unique institutional background in China.Secondly,at present,most scholars in China only analyze the credit efficiency from the perspective of credit quantity.On the basis of theoretical research,this paper focuses on the impact of local government intervention in the allocation of credit resources from the two aspects of credit price and credit quantity.Thirdly,most of the literature from the perspective of provincial macro-analysis.This paper empirically studies the relationship between local government intervention and credit obtained by enterprises,and provides a new research perspective from multiple perspectives of regional and ownership.
Keywords/Search Tags:Resource Allocation, Local Government Intervention, Credit Allocation Efficiency, Bank Credit
PDF Full Text Request
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