搜寻成本、网络效应与普惠金融的渠道价值——互联网借贷平台与商业银行的小微融资选择比较

Research on the Search Cost, Network Effect and Financing Channel Value of Inclusive Finance——Comparing the Micro Financing Business between Banks and Internet Lending Platform

本文从小微经济体融资搜寻成本和网络效应两个基础理论命题入手,对比商业银行与互联网借贷平台的搜寻成本和网络效应对融资行为的影响。研究发现,搜寻成本和网络效应共同作用于融资行为,搜寻成本越低,网络效应越大,相应融资渠道价值越高。互联网借贷平台具备这两方面的优势,拥有比银行更高的小微融资渠道价值,是普惠金融服务的重要提供者。规范互联网借贷平台发展,提升其透明度,对普惠金融体系建设具有重要现实意义。

This paper examines the basic theory of financial search cost and network effect with micro economic bodies, comparing the effects of financing behaviors between banks and Internet lending platform. The study shows that both the search cost and network effect may affect the financing behavior, with the lower the search cost and the greater the network effect, the higher the value of the corresponding financing channel. Internet lending platform has higher value of financing channels for micro economic bodies than banks with advantages in both search cost and network effect, thus becoming an important provider for inclusive financial services. It is important to regulate the development of Internet lending platform, to enhance its transparency, for the construction of inclusive financial system.