我国企业融资制约与宏观经济发展的关系研究

本通过对我国不同所有制企业的生产效率及其融资制约的分析，认为建立公平、合理、有效的融资体制，有利于宏观经济的快速健康发展。政策性贷款与中央银行贷款对国有企业的扩张发生在国有企业生产已经饱和而民营企业存在剩余生产能力的情形下，将会引发通货膨胀。而由于民营企业生产效率较高，其获得商业贷款能力的增强，会有效的拉动经济增长并降低通货膨胀，因而采取合理的向民营经济倾斜的融资政策，有利于缓解经济“滞胀”的压力。

Research on Relation of Financing Restriction of Chinese Enterprises and Macroeconomics

The paper holds that it is propitious for economic developing healthily and rapidly to find impartial, rational and effective financing system through the analysis of productivity efficiency and financing restriction of different-type ownership of China. For the saturation of production ability of state-owned enterprises and the surplus production ability of private firms, the central bank and polity bank's financing of state-owned firms will lead to currency inflation. However, private firms' ability of achieving commercial loan strengthen, which can make economy grow effectively and reduce currency inflation, because of their higher productivity. As a result, rational inclined financing policy to private firms will be helpful to relieve the pressure of stagnation.