The Theory Study Of Credit Rationing In SME

There has been a vast expansion in the number of SME since the reform and opening up in China. Even more importance are the growth of employment, the flourish of the market, the increase of the GDP, the stabilization of the society, the emergence of rational National Economic structure and their increasingly important roles that SME performed. However, the credit rationing has been a restriction to the further development of SME. It will be meaningful for us to explore and make analysis of the influential factor of credit rationing towards SME.According with local realities, we make a comparative research of literature on influential factor of credit rationing, the key factor influence SME is as follows: the asymmetric information between banks and SME, monopoly of banks, financial restriction of the government, guaranty-pinch and lack of effective surety of SME.The author compare the assumption, conclusion and limitation of credit rationing models (that is S-W model, Wette model, Bester model, Williamson model), combine with influential factor of credit rationing towards Chinese SME, and choose the Bester model to improve analysis means, in order to set up model of credit rationing of Chinese SME. Furthermore, the author studies the transformation and provides theoretic support of credit rationing of Chinese SME, by removing one or more influential factor in the new model.In order to make progress on credit rationing of SME, we should focus on three aspects as follows: gradually advanced market interest rate, enhance fluctuation of interest rate, strengthen systemic construction of credit assure of SME, solve the problem of guaranty-pinch and lack of effective surety of SME, open the banking market, enhance the competitive ability of Chinese banking.