中国农户融资选择意愿研究——来自10省2万家农户借贷调查的证据

发布时间：2018-12-18 19:51

【摘要】：农村金融研究核心议题之一是农户融资行为特征问题。农户在自身积累、民间融资、正规金融机构融资等多种融资来源选择中,哪些因素影响着农户融资选择行为?同时,农户融资选择是否存在一定的融资次序?本研究应用2007年人民银行委托国家统计局在全国10省区调查获得的2万份调查问卷数据,进行了系统地实证研究。实证研究表明:(1)中国农户外出务工获得非农收入对农户借贷具有很强的替代性;(2)民间互助性借贷对正规金融机构贷款具有较强的替代性,而东部和中部相对发达地区对民间互助性借贷意愿更为强烈;(3)中国农户融资显著偏向内源融资,这集中反映了中国农户借贷行为具有"道义小农"假说的特点;同时,农户对商业性金融和互助性金融两种外源融资之间选择并不存在显著差异,两者之间存在选择的替代均衡。
[Abstract]:One of the core issues of rural finance research is the characteristics of farmers' financing behavior. What factors influence farmers' financing choices in their own accumulation, private financing, formal financial institutions financing and other sources of financing? At the same time, is there a certain order of financing for farmers' financing choices? Based on the 20 000 questionnaires collected by the National Bureau of Statistics (NBS) in 2007 in 10 provinces and regions of China, this study conducted a systematic empirical study. The empirical study shows that: (1) the non-farm income of migrant workers in China has a strong substitution for farmers' borrowing; (2) Private mutual lending has a strong substitution for formal financial institutions, while the eastern and central developed regions are more willing to lend to private mutual aid; (3) Farmers' financing in China has a significant bias towards endogenous financing, which reflects that the lending behavior of Chinese peasant households has the characteristics of "moral smallholder" hypothesis; At the same time, there is no significant difference in the choice between commercial finance and mutual finance, and there is an alternative equilibrium between them.
【作者单位】：西南财经大学中国金融研究中心;中国人民银行贵阳中心支行;
【基金】：“教育部人文社科重点研究基地重项目:中国农村金融改革跟踪研究与绩效评价”课题资助
【分类号】：F832.4;F224

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