CAJ | 학술논문

就长期而言,社会融资规模及其分量都会对产业结构升级调整产生正向影响,并且直接融资量和银行表外业务融资量产生的正向影响要高于总的社会融资量和传统的信贷融资量产生的影响。就短期而言,社会融资规模及其分量对产业结构升级调整的影响整体不是很明显。调整产业结构,应从如下方面着力：调整投资方向,追求投资的可持续性;完善间接融资市场,发展多层次间接融资体系;调整信贷投向,使金融政策与国家产业政策相配套;调整直接融资方式,扩大直接融资规模;借助融资渠道发展之势,主动推动产业结构调整;维持经济大环境的稳定,确保金融政策持久。
취장기이언,사회융자규모급기분량도회대산업결구승급조정산생정향영향,병차직접융자량화은행표외업무융자양산생적정향영향요고우총적사회융자량화전통적신대융자양산생적영향。취단기이언,사회융자규모급기분량대산업결구승급조정적영향정체불시흔명현。조정산업결구,응종여하방면착력：조정투자방향,추구투자적가지속성;완선간접융자시장,발전다층차간접융자체계;조정신대투향,사금융정책여국가산업정책상배투;조정직접융자방식,확대직접융자규모;차조융자거도발전지세,주동추동산업결구조정;유지경제대배경적은정,학보금융정책지구。
In the long run, ＂Aggregate financing to the real economy＂and its components will exert a positive impact on the industrial st~ctures＇ upgrading and adjustment. The positive influence generated by ＂bank off-balance-sheet financing＂ and direct financing is higher than ＂Aggregate financing to the real economy＂ and traditional credit financing. In the short term, the influence of ＂Aggregate financing to the real economy＂ and its components on the upgrading and adjustmentof industrial structure is not very obvious. We should focus on the following aspects when adjusting the industrial structure： Adjust investment direction and pursue the sustainability of investment; Improve the indirect financing market and develop multi-level indirect financing system; Adjust the direction of credit and make the financial policy matches the national industrial policy; Adjust the way of direct financing and expand the scale of direct financing; Promote industrial restructuring with the help of the development of financing channel; Maintain the stability of the economic environment and ensure constant financial policy.