摘要
理解中小企业如何克服资本壁垒是理解中国经济快速发展的关键。传统的研究强调非正规金融所起的作用。在不否定非正规金融重要性的基础上，本文认为产业集群在中小企业克服资本壁垒上起了关键性的作用。本文构建了一个数理模型，并且通过对濮院羊毛衫产业集群的分工状况以及资金流动状况的研究，得出以下结论：产业集群通过分工降低了资本进入门槛；产业集群内部的企业家在日常经营中，通过充分利用社会资本克服了运营资本的困难。
Understanding how small and medium enterprises overcome capital barriers is one of the keys to understanding China＇s rapid industrial development. The traditional literature emphasizes the development of the financial market in overcoming growth constraints. By studying the cashmere sweater cluster in Puyuan, this paper argues instead that clustering lowers the entry barriers of initial capital investment through the division of labor. In addition, in the clusters, firms often can acquire informal finance from upstream firms and from friends and relatives to mitigate the constraints of the lack of working capital.
出处
《经济学（季刊）》
2007年第1期71-92,共22页
China Economic Quarterly
