中国农村非正规金融和正规金融的合作模式

Cooperation Modes between Informal Finance and Formal Finance in Chinese Rural Area

供给侧结构性改革着力于提高供给体系的质量和效率。在农村金融领域,不仅要求金融供给主体在数量上有增加,而且应优化资源配置结构。农村非正规金融和正规金融的互补性使得合作成为实现要素最优配置的一种方法。合作模式的稳定性对双方经营决策有决定性作用,从数理角度构建适合我国农村非正规金融机构和正规金融机构合作的模型,并得到保持稳定合作所要求的条件,最后以收集到的28个省(自治区、直辖市)4年的样本进行实证分析。结果表明:农村非正规金融与正规金融信贷量相差悬殊的省份适合寄生合作模式,而二者实力相当的省份则适合依赖成长的对称互利合作模式;寄生模式是过渡性的,而依赖成长对称互利模式能够使合作的总体效应增加。

Structural reform of the supply front can increase the quality and efficiency of supply system.Both quantity of financial suppliers and structure of resources allocation are important in the rural financial market.According to their own comparative advantage,cooperation of informal finance and formal finance is one of the ways to optimize structure of factor allocation.Stability analysis on mode of cooperation is helpful for business decision of these two financial institutions.We deduce dynamic process of cooperation mode mathematically to find out more proper mode and essential conditions of stability.Based on provincial level data in 2008,2010,2012 and 2014,an empirical analysis shows that the spurious cooperation mode is more proper for those provinces with loan balance of significant differences between informal finance and formal finance.While the mode of dependent growth and symmetric mutual benefit is the optimal choice for those provinces with well-matched loan balance between informal finance and formal finance.