农村中小金融机构X-效率影响因素研究——基于浙江省的数据

STUDY ON X-EFFICIENCY OF RURAL SMALL AND MEDIUM-SIZED FINANCIAL INSTITUTIONS——Based on the Data of Zhejiang Province

本文从内、外两个方面探讨影响农村中小金融机构X-效率的因素,并构建了分析农村中小金融机构X-效率影响因素的基本回归模型。笔者选择自由分布法(DFA)等方法来测度金融机构的效率,并选用普通的最小二乘法估计方程,利用2010—2012年浙江省的调研数据来进行实证研究。研究表明,具有较大市场份额、贷款主动性较高的金融机构X-效率也较高。同时,所处区域的经济增长以及金融市场发展程度也具有正向促进作用。但市场集中程度过高则会抑制农村中小金融机构X-效率的提高,因此需要采取措施鼓励市场竞争,以防患于未然。另外,经济增长与金融市场发展对农村中小金融机构X-效率具有负面的交叉效应,因此在推进中小金融机构的发展过程中,需要区别对待不同发展程度的区域。

This paper discusses the factors that influence X-efficiency of rural small and medium-sized financial institutions （RSMFI） from inside and outside aspects and builds the basic regression model. This paper selects the DFA and other ways to measure the efficiency of financial institutions. The empirical study is based on the survey data of 2010--2012 years from Zhejiang province and using the least squares estima- tion equation. The research shows that the financial institution that has a large market share and high initi- ative of loan also has high X-efficiency. At the same time, the regional economic growth and the degree of financial market development also have positive roles. But the market concentration degree will inhibit the improvement of X-efficiency of the RSMFI if it is too high. So it should take measures to encourage compe- tition in the market. In addition, the growth of economic and the development of financial market have negative cross effects on X-efficiency of RSMFI, which should be treated differently at different areas in the process of small and medium-sized financial institutions.