订单农业发展与金融工具创新

当前关于订单农业问题的研究,主要集中在运用企业组织理论、契约理论、博弈论、交易费用理论探讨订单农业的形式、作用、发展过程中存在的问题及其解决方略等方面,其特点大多是基于某一理论从一个侧面或一种方法角度的研究,缺乏系统化研究且往往习惯于将公司和农户对立起来,过于突出其冲突的一面。本文尝试借鉴金融工程学的思想,利用衍生品的演变规律,从“公司+农户”交易模式演进的内在必然性、形成合理分配利益与风险机制的紧迫性等角度来揭示我国订单农业中“公司+农户”模式演进的路径;同时指出着力推出期货、期权、互换及其组合等新型金融产品以及构建与此相适应的市场环境应成为当前完善我国订单农业重点工作之一。

Most recent studies of contract agriculture issue focus on the forms, effects, obstacles in its development by introducing Corporation Organizing Theory, Contract Theory, Game theory and Transaction Cost Theory. However, these works are mostly based on the one side or one perspective of an isolated theory. Little effort has been made into a systematical research. This paper tries to reveal the evolving route of the 'Company & Farmer' transaction form in the contract agriculture of China with the help of ideology in financial engineering and evolvement laws of derivative products. At the end, the paper suggests that new financial products such as futures, options, SWAP, and their combinations, while building up a suitable market circumstances should be one of the emphases for perfecting the contract agriculture in China.