台日中小企業信用保證政策效果之比較研究-2008年金融風暴為例

本文以迴歸分析檢驗於2008年金融風暴時期，政府對中小企業信用保證政策之效果驗證，針對相關文獻及實證歸納與整理，選擇出信用保證承保餘額、基準放款利率、房價指數（擔保價值）、工業生產指數、促進就業融資保證政策等變數來進行探討，研究期間為 2005 年至 2015 年。核心問題為信用保證制度擴大承保後，以及政府在金融風暴期間對中小企業實施之信用保證政策，對促進金融機構承做中小企業放款意願上是否有發揮效果？文末的主要結論為：其一、銀行承做中小企業放款意願提高，可減少中小企業倒閉發生的可能。其二、在信用保證制度運作下，中小企業在無法提供擔保品情形下，有了信用保證政策之協助，銀行亦願意提供中小企業放款。其三、2008年金融風暴信用保證政策在金融風暴期間亦能發揮其政策效果，有效促使銀行不因金融風暴而縮減中小企業之信用。

關鍵字

中小企業；信用保證制度；政策效果

並列摘要

The study examines the effects of the credit guarantee policies provided by the government for small and medium enterprise during 2008 financial crisis; the study refers to relevant literatures and evidences to select various variables for investigation, including credit guarantee insurance balance, primary rate, house price index (collateral value), industrial production index and employment promotion financing guarantee policy, etc.; the research period of the study is from 2005 to 2015. The core issue is whether the financial institutions are more willing to provide loans to small and medium enterprise after the insurance of the credit guarantee system is expanded, and the government implements the credit guarantee policies to small and medium enterprise. The major conclusions at the end of the paper are: (1) if the banks are more willing to provide loans to small and medium enterprise, the possibility of the collapse of small and medium enterprise can be reduced; (2) under the operation of the credit guarantee system, the banks are also willing to provide loans to small and medium enterprise because of the credit guarantee system even if these enterprises cannot provide collaterals; (3) the credit guarantee policies can also result in the policy effects to promote the banks not to decrease the credit of small and medium enterprise.