我国农村融资现实审视与制度重构

中国农村金融的有效需求、有效供给及市场均衡的性质是缺乏规范研究的。本文通过对上饶10个县、100家农村企业和1000户农户为样本,对农村金融市场进行实证研究,得出如下结论:第一,农村融资的有效需求旺盛,但有效供给不足,导致低效率均衡的出现———需求得不到满足而转向民间融资,农村融资价格持续走高,以及资金外流。第二,低水平均衡的问题来自需求和供给两个层面的制度制约。第三,通过制度重构实现高效率均衡是农村金融发展的根本途径。

This paper studies the effective demand, supply and properties of equilibrium in China＇ s rural financial market through case study of 100 rural firms and 1000 rural households within 10 counties of Shangrao City, Jianfgxi Province. Conclusions are as follows. Firstly, the less efficient equilibrium exists with excess demand, high loan rate and fund outflow. Secondly, structural weakness in demand and supply side leads to such equilibrium. Finally, rural financial development requires institutional evolution.