农户消费信贷约束及其影响--来自10省的样本

Consumer credit constraints of Chinese rural households and its effect——Evidence from 10 provinces

运用面板Biprobit模型和动态面板数据模型,采用2005-2011年1000个样本农户的调查数据,对农户遭受消费信贷约束的程度及其所导致的福利损失进行了估计.研究发现:83.7%的样本农户遭受消费信贷约束,其中,55.2%的农户遭受完全约束,24.2%的农户遭受部分约束;由于信贷约束,样本农户的纯收入和消费支出分别平均减少了13.7%和25.6%.根据实证结果,提出了开发品种多样的消费信贷产品和工具,增加农户消费贷款的政策建议.

Using recent survey panel data from 1000 Chinese rural households from 2005-2011, this paper attempted to estimate the extent of consumer credit constraints as well as its impact on the net income and consumption expenditure of rural households. Our results revealed that S3.7% of Chinese rural households were rationed in the credit markets. Of these, 55.2% were completely rationed and 24.2% were partially rationed. Furthermore, this consumer credit rationing caused a 13.7% loss in net income and a 25.6% loss in consumption expenditure for these rural households in China. Finally this paper proposes some policy suggestions based on the empirical results.