Credit Rationing and the Simulation of Bank-Small and Medium Sized Firm Artificial Credit Market

LIU Xuefeng; ZHANG Wei; XIONG Xiong; SHEN Dehua; ZHANG Yongjie

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Credit Rationing and the Simulation of Bank-Small and Medium Sized Firm Artificial Credit Market

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By analyzing the financing difficulties faced by the small and medium-sized firms,the paper built an artificial credit markets with the agent-based computational modeling to simulate the real world credit transactions.There are firms,banks,different risk-type projects as well as legal and supervision environments in which debt contracts constitute the financial instruments.The simulation results show that the number of collateral,average success probability of projects,and the prime interest rate have materially impact on bank's average profit,bank's capital,the overall interest rate,the number of borrowing firms,loan size,and the degree of credit rationing.These results in line with those of the classical S-W model in the sense that the relationship between bank profits and interest rates is non-monotonic as well as the relationship between credit rationing and interest rates.And thus there is an adverse selection effect in credit rationing theory.

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《系统科学与复杂性：英文版》 |2016年第4期|991-1017|共27页
作者
LIU Xuefeng; ZHANG Wei; XIONG Xiong; SHEN Dehua; ZHANG Yongjie;
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作者单位

College of Management and Economics, Tianjin University, Tianjin 300072, China;

College of Management and Economics, Tianjin University, Tianjin 300072, China;

Key Laboratory of Computation and Analytics of Complex Management Systems(CACMS), Tianjin University, Tianjin 300072, China;

College of Management and Economics, Tianjin University, Tianjin 300072, China;

Key Laboratory of Computation and Analytics of Complex Management Systems(CACMS), Tianjin University, Tianjin 300072, China;

Departament d'Economia, Universitat Jaume I, Castellón de la Plana, 12071, Spain;

College of Management and Economics, Tianjin University, Tianjin 300072, China;

Key Laboratory of Computation and Analytics of Complex Management Systems(CACMS), Tianjin University, Tianjin 300072, China;

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Credit Rationing and the Simulation of Bank-Small and Medium Sized Firm Artificial Credit Market

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