银行业结构变迁对农户融资渠道选择行为的影响--基于中国7省18县的农户调查数据

The Effect of Banking Industry Structural Changes on Farmers' Choice of Financing Channels: Based on the Data of a Farmer Survey Covering 7 Provinces and 18 Counties in China

构建多元化竞争性农村金融组织机构体系是中国农村金融改革的方向,旨在通过优化银行业结构更好地满足农户、小微企业等弱势群体的正规金融服务要求。从理论层面,银行集中度的降低可以带来目标客户群体的下移,给弱势群体提供更多的正规选择机会。但较多研究显示,非正规借贷依然是农户融资的主要来源。那么,银行业结构变迁是否影响农户在正规和非正规借贷间的选择?基于中国7省18县的农户微观调查数据,采用Probit和Tobit模型实证检验银行业结构变迁对农户融资渠道选择的影响,发现:银行集中度的下降,不仅可以提高农户使用正规借贷的可能性,还有助于提高农户正规借贷占总融资规模的比例;与国有银行和全国性股份制商业银行相比,农村信用社等小银行在发放农户信贷方面更具效率优势,且这一优势随着小银行竞争程度的加剧而逐渐显著;小银行农户信贷效率优势的发挥是银行集中度影响农户融资渠道选择的主要作用途径。

Diverse competitive rural financial organization system is the goal of Chinese rural financial reform,and it provides the disadvantaged groups legal financial services to improve the banking industry structure. In theory,the decrease of bank concentration ratio can lead to the lowering of target groups,which would provide the disadvantaged groups more legal choices. However,it was proved by many studies that illegal loan was still the main source of farmer financing. So,does the banking industry structural changes affect farmers' choice of financial channels? With the data of a farmer survey covering 7 provinces and 18 counties in China,this paper examines the impact employing Probit and Tobit models. The findings show that the declining of banking market concentration can not only result in a higher probability of using formal credit but also a higher formal credit ratio. Compared with stateowned banks and national joint-stock banks,small banks such as Rural Credit Cooperative have an efficiency advantage in farmer financing,and this advantage will become prominent as the competition between small banks gets fierce. What's more,small banks' efficiency advantage is the main factor by which banking market concentration influences farmers' financing choice.