摘要
刚兑侵蚀了市场化基石,造成融资贵、融资难问题。打破刚兑,让市场给风险定价,有利于经济成功转型和生产率的提升,防范金融危机。韩国打破刚兑的经验值得借鉴,如利率市场化、金融国际化等外部环境的配合,以及金融部门和企业的综合改革支持。中国打破刚兑的条件基本成熟,关键在于建立市场化的破刚兑机制,深化供给侧改革,审慎实施金融开放,做好去产能、债务处理和安置就业之间的政策协调。
Rigid redemptions erode the cornerstone of the marketization and result in expensive and difficult financing of enterprises. Breaking the rigid redemptions is beneficial to successful transformation of the economy and promotion of productivity so as to prevent financial crisis. The experience of South Korea in breaking the rigid redemptions can be referred to,such as marketization of the interest rate,financial internationalization,and the comprehensive reform of the financial sectors and enterprises. China has formed basic conditions for breaking the rigid redemptions and the key is to establish a market-oriented mechanism of breaking the rigid redemptions,deepen the reform of supply layer, implement prudently the financial liberalization, and coordinate policies on capacity reduction,debt handling and job placement.
作者
赵旭
ZHAO Xu(College of Financial Management, Shanghai University of International Business and Economics, Shanghai 201620, Chin)
出处
《福建商学院学报》
2018年第1期13-20,共8页
Journal of Fujian Business University
关键词
破刚兑
国家信用背书
韩国
经验借鉴
信用风险
breaking rigid redemptions
national credit endorsement
South Korea
experience reference
credit risks
