我国民间利率的市场缺陷及因应之策

运用利率管制条件下的资金供求模型对民间利率的市场形成机制进行分析发现，民间利率不仅高于正规金融市场均衡利率水平，也高于资金需求者的意愿水平。同时，民间利率在当前市场中具有缺陷性：它的高利率性及非”市场利率”性糅合在一起，给金融市场及社会发展带来了不利影响。因此，有必要将民间利率纳入监管范畴进行规范引导，从而有效克服其市场缺陷性，充分发挥其拾遗补缺的作用。

Market Deficiencies of Nongovernmental Interest Rate and the Solution

Using the model of capital supply and demand to analyze the market forming mechanism of nongovernmental interest rate trader the condition of interest rate control, we can find that the level of nongovernmental interest rate is not only higher than normal level of equilibrium interest rate in financial market, but also higher than the level which the funds deficit units want. Besides, nongovenemental interest rate has market deficiencies-its combination of high interest rate property and non-market interest rate property can bring about a negative impact on financial and social development. Therefore it is necessory for govemunent to formalize and guide the nongovernmental interest rate so that it can play its role fully.