Filling this gap with a credit guarantee by a reliable intermediary such as a state-owned guarantee corporation may similarly ensure financial institutions about the future cash flow of the firm. 用可靠的中间人(如国有担保公司)提供的信贷担保来填补这个差距(差额),同样也可以向非银行金融机构就企业未来的现金流做出保证。Therefore, this should reduce its expected cost of lending and increase its willingness to provide funds. 因此,这应当会降低发放贷款的预期成本,提高供应资金的热情。This section examines whether a credit guarantee lowers the interest rate charged by a financial institution. 本章考核信贷担保是否降会降低非银行金融机构收取的利率。Using pooled cross-section data during the period 2000-2005, we estimate an ordinary least squares regression in the following form: 我们使用2000至2005年期间典型数据,来评估一下下表中的普通最小平方衰退:Ln(Interest rate利率 it )- β +β Private私人 it + u+β SICGC + β Ln(Loan Amount贷款金额 it )+β Ln(MOR最小透支率 it ) where i and t denote loan and time respectively. - i 和 t 分别表示贷款和时间。Interest rate is the rate charged on the firm's loan i. 利率就是企业贷款i支付的利率。SICGC is a dummy variable that takes the value of 1, if the portion of the total loan i is guaranteed by SBCG, and 0 otherwise. SICGC 是一个名义变数,如果整个贷款全部由SBCG担保,取值为1;否则,取值为0。In the regression, we control for loan- and firm-specific characteristics as well as for the underlying cost of debt. 在衰退过程中,我们控制贷款及企业特性(参数),同时也控制潜在的债务成本。The loan amount is the total loan size obtained from a financial institution at time t. 贷款的金额就是在时间t时从金融机构取得的贷款总额。To control for changes in the underlying cost of debt, we use the minimum overdraft rate (MOR), which is determined by the financial institution at time t. 为了对债务成本的变化进行控制,我们使用最小透支率,它由金融机构在时间t时确定。Private is a dummy variable with the value 1, if the financial institution is privately owned, and 0 otherwise. “Private(私人)”是一个名义变数,当金融机构为私营时,取值为1;否则,取值为0.The sample of 94 loan transactions and other credit-related data has been obtained from the survey of SMEs and the credit files collected by SBCG. 这个例子包含94笔贷款业务和其他与贷款相关数据,它是从SME的调查报告中取得的,信贷档案是SBCG收集的。The regression result is presented as follows:衰退结果如下: