一、中小企业信用保证体系建设的必要性中小企业融资难是一个历久弥新的疑难杂症。英国1931年《麦克米伦报告》中就有充分的调查论证。在经济学上,虽然新古典价格理论认为,资金的价格即利率会调节信贷资金的供给和需求,最终使信贷市场产生均衡利率。但根据斯蒂格里兹和温斯(Stiglitz and Weiss)的研究,银行的期望收益取决于贷款利率水平和借款人的还款概率即贷款风险两个方面,但银行索取的利率会通过逆向选择或道德风险渠道 First, the need for the establishment of SME credit guarantee system SME financing is a long time difficult incurable diseases. Britain’s 1931 Macmillan Report has sufficient investigation and demonstration. In economics, although the neoclassical price theory holds that the price of capital, interest rate, will adjust the supply and demand of credit funds, eventually the credit market will have a balanced interest rate. But according to Stiglitz and Weiss’s research, the bank’s expected return depends on both the loan interest rate and the borrower’s probability of repayment, that is, the loan risk, but the interest rates banks ask for will be reversed Or moral hazard channel