农村民间金融的规范化发展研究

Study on the Legal Governance on the Moral Hazard of Rural Folk Finance

信息经济学视域下,农村民间金融市场风险的生成机理源于信息在农村民间贷款人与借款人、农村民间金融机构所有者与经营者、农村民间金融中介机构与借贷双方、农村民间金融监管部门与被监管者等金融活动主体间的非对称性分布。应当以实现农村民间金融市场的可持续发展作为法律治理对应的目标定位,力求形成优胜劣汰的金融竞争机制,增强农村民间金融市场公信力,促进相关金融创新与自律活动。在制度性对策层面上,应从激励相容约束下农村民间金融机构经理人市场的建立与完善,法制背景下农村民间金融信息披露制度的强化,农村民间金融市场的适度监管法律机制的优化,农村民间金融的民事责任制度架构等方面,对农村民间金融道德风险行为进行科学治理。

From the perspective of information economics,the generation mechanism of the moral hazard of rural folk finance originates from the asymmetrical distribution of information in pairs of financial participants including lenders and borrowers of rural folk financial market,owners and operators of rural folk financial institutions,financial intermediaries and lending and borrowing parties,financial regulators and supervisee.Corresponding legislative solution should target at the sustainable development of informal finance market in rural areas,striving for a mechanism based on survival of the fittest,boosting public credibility of rural informal finance market as well as promoting relative financial innovation and self-discipline.Acting in an institutional dimension,a comprehensive solution is urgently needed for a regulation on risk of rural informal finance ethics,consisting of a legal mechanism to motivate and constrict rural informal finance houses,more satisfactory laws on information disclosure of informal finance,a more appropriate legal mechanism for rural informal finance market,a clearer framework of civil liability in rural informal finance aspect and so on.