Promoting Enterprise Development or Subsidizing Tradition?
Promoting Enterprise Development or Subsidizing Tradition?
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促进企业发展还是补贴传统？
DOI：
10.1177/0266242605048870
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发表时间：
2005
期刊：
影响因子：
--
通讯作者：
A. Riding
中科院分区：
文献类型：
--
作者：
Miwako Nitani;A. Riding
政府和行业协会经常干预信贷市场，为金融机构向中小企业提供的贷款提供担保。世界上最活跃的贷款担保计划是日本的信贷补充制度，但日本的创业活动水平极低。这一悖论表明，缺乏可用资本可能不是创业活动的唯一制约因素。这篇实证文章考察了日本的贷款担保制度。它报告了自己的优势和劣势，发现日本信用补充体系强调救助面临困境的企业：对新企业的金融支持似乎是一个较低的优先事项。这种关注反映了日本背景下的文化和社会现实。然而，可以说，它既降低了熊彼特的“创造性破坏”的强度，也人为地维持不可行的公司，然后与不支持的公司竞争，从而阻碍了创业活动。
Governments and trade associations have often intervened in credit markets to guarantee loans made by financial institutions to small and medium-sized enterprises (SMEs). The most active loan guarantee program in the world is the Japanese Credit Supplementation System yet the level of entrepreneurial activity in Japan is extremely low. This paradox suggests that lack of available capital may not be the only constraint on entrepreneurial activity. This empirical article examines the Japanese loan guarantee system. It reports on its strengths and weakness, finding that the Japanese Credit Supplementation System emphasizes the salvage of firms facing distress: financial support for new businesses appears to be a lower priority. This focus reflects cultural and social realities of the Japanese context. However, it arguably discourages entrepreneurial activity by both reducing the intensity of Schumpeter’s ‘creative destruction’ and also by artificially maintaining non-viable firms that then compete with unsupported firms.