道德风险、监督结构与农村融资机制设计——兼论我国农村金融体系改革

发布时间：2018-05-10 13:44

本文选题：道德风险 + 组织化　；参考：《金融研究》2010年06期

【摘要】：农民融资难是农村金融体系面临的核心问题。由于农村普通缺乏抵押品,如何发展抵押品替代机制是农村融资机制设计的关键。我们的分析表明,组织化(或分散化)和监督有助于降低最低抵押品要求,是农村金融市场两个重要的抵押品替代机制。凭借现代农村转型中的组织化资源,通过农民自组织(合作化)以及他组织(中介化),充分利用农村各类金融资本(或新型金融机构)和新型农村经济组织在资本提供、监督和/或技术咨询和担保上的优势,可以设计出有效的融资(监督)结构,实现农村各类金融资源的有效联结,从而改善农户融资条件。此外,改变农村政策环境如实施恰当的农村财政补贴政策和鼓励适度竞争的金融监管政策也有利于促进农户融资。本文从农村融资机制设计的角度为理解农村金融体系安排提供了一个分析框架,分析结论对于当前我国小农经济现实背景下的农村金融体系改革尤其具有启发意义。
[Abstract]:Farmer financing difficulty is the core problem that rural financial system faces. Due to the lack of collateral in rural areas, how to develop collateral replacement mechanism is the key to the design of rural financing mechanism. Our analysis shows that organization (or decentralization) and supervision help to reduce minimum collateral requirements and are two important collateral substitution mechanisms in rural financial markets. With the help of the organized resources in the transformation of modern rural areas, the rural financial capital (or new type of financial institutions) and the new type of rural economic organizations are provided by the peasants' self-organization (co-organization) and other organizations (intermediation). The advantages of supervision and / or technical advice and guarantee can design effective financing (supervision) structure and realize the effective connection of all kinds of financial resources in rural areas, thus improving the financing conditions of farmers. In addition, changing the rural policy environment such as the implementation of appropriate rural financial subsidy policy and financial supervision policy to encourage moderate competition are also conducive to promoting farmers' financing. This paper provides an analytical framework for understanding the arrangement of rural financial system from the point of view of the design of rural financing mechanism. The conclusion of the analysis is particularly instructive for the reform of rural financial system under the realistic background of smallholder economy in our country.
【作者单位】：西南财经大学中国金融研究中心;
【基金】：国家社会科学基金青年项目“金融高管薪酬设计与金融风险防范”(10CJY072) 教育部人文社会科学研究青年基金项目“中国农村融资制度创新研究——基于机制设计的视角”和西南财经大学“211工程”项目资助
【分类号】：F832.35

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