金融支持小微企业发展的政策有效性研究基于模糊综合评价模型.docxVIP

金融支持小微企业发展的政策有效性研 究一一基于模糊综合评价模型 李云山楚晓光 中国人民银行济南分行 摘要: 本文基于模糊综合评价模型对金融支持小微企业政策有效性进行了评估，研究 发现齐种政策手段的组合与配置对于小微企业融资环境改善作用逐步凸显。直接 作用于商业银行信贷管理和服务优化方面的政策有效性更为显著;定向货币政策 和差别化监管措施增强了政策传导效率;金融牛态环境优化政策还需释放更多的 潜能;多层次金融组织建设政策有效性相对较低;直接融资成为当前小微企业融 资最薄弱环节。依据研究结果，应继续强化货币政策和差别化监管正向激励;改 进小微企业信贷运营管理机制，激活银行信贷投放内生动力;推动多层次金融组 织体系建设，规范大力发展新型金融机构和业态;完善信息和增信的配套制度， 健全风险分担和补偿机制;加快推进多元化小微企业融资机制，切实拓宽企业融 资渠道。 关键词： 金融政策;小微企业;政策有效性; 作者简介：李云山，男，供职于中国人民银行济南分行，高级经济师； 作者简介：楚晓光，男，中南财经政法大学经济学院，供职于中国人民银行济南 分行。 收稿日期：2017-06-15 A Research on Policy Effectiveness of Financial Support for Small and Micro Enterprises Based on the Fuzzy Comprehensive Evaluation Model Li Yunshan Chu Xiaoguang PBC of Jinan Branch; Abstract： Based on the fuzzy comprehensive evaluation model, this paper evaluates the policy effectiveness of financial support for small and micro enterprises, and finds that the combination of various policy instruments plays an imports nt role in impro ving the firmn cing environmen t of small and micro cntcrpriscs. The policy that directly applied to the credit management and service of commercial banks is more effective, oriented monetary policy and differential regulatory measures enhance the efficiency of policy transmission, the policy about financial ecological environment also needs to release more potential, the effectiveness of multi-level finemcial organizeition construction is relatively 1ow, direct financing has become the weakest link in financing of small and micro enterprises. Accordingly, it can be concluded as follows: strengthen monetary policy and differential supervision, improve the credit operation, promote the construction of multi~level financial organization system，improve the risk sharing and compcnsation mochanism and expand the five suggestions of financing channels. Keyword： financial policy; small and micro enterprises; policy effectiveness; Received： 2017-06-15 一、引言 我国金融支持小微企业的政策体系逐步建立，对小微企业发展和大众创业、万众 创新形成有力支撑的同时，暴露了部分政策效果未充分发挥、小微企业融资增信 和风险缓释机制不健全、信息不对称抬升交易成本等问题。从有效性的角