On the Catastrophic Change of Credit Rationing
运用非线性突变理论分析信贷市场配给过程，发现单一市场难以缓解信贷配给，而多市场供需非线性关系可能引发配给的灾难性变化，并展示了缓解条件与过程。
Due to the lack of information transparency in the small and medium-sized enterprises,the formal financial sector usually implements credit rationing to reduce the risk of loans.This paper analyses the rationing process in the credit market by applying the nonlinear catastrophe theory.The result shows that in the single market,credit rationing can not change essentially or can hardly be mitigated;Nevertheless,in the multiple markets,the obvious nonlinear relationships of supply and demand of the products in the credit market make the catastrophic changes of credit rationing possible.This paper has demonstrated the specific conditions and the processes of mitigating credit rationing.