【摘要】 本文通过实证研究表明,利率上升会对影子银行的规模产生影响,而且影响的持续期较长;中小企业的发展对影子银行规模的冲击较小且持续期较短;影子银行的发展对中小企业以及利率的影响显著但持续期较短。回归分析也发现,影子银行与中小企业融资之间存在着正相关性,并且影子银行还通过影响短期贷款利率间接促进中小企业的发展。在我国中小企业直接融资渠道缺失的情况下,影子银行弥补了当前金融市场发展的不足,所以应适时鼓励和引导影子银行的发展;协调影子银行、短期贷款利率和中小企业融资之间的关系;加强对影子银行和中小企业的监管。更多还原

【Abstract】 The empirical study of this paper shows that the rise in interest rate will affect shadow banking size for long time,the development of small & medium-sized enterprises(SMEs) impacts shadow banking size slightly and the duration is short,and the development of shadow banking affects SMEs and interest rates significantly but the duration is short.The regression analysis also shows that there is a positive correlation between shadow banking and SME financing,and the shadow banking indirectly promote the development of SMEs by affecting short-term lending interest rate.Considering that SMEs lack direct financing channels in China,so the shadow banking has made up for the inadequacy of the development of the current financial markets,and it is necessary to encourage and guide the development of the shadow banking in time,coordinate the relationship between shadow banking,short-term lending interest rate and SME financing,strengthen the supervision of shadow banking and SMEs.更多还原