涉农贷款边际成本的测算及影响因素分析——基于湖南省87个县(市)农商行的经验数据

The Estimation of Marginal Cost of Agricultural Loans and Its Determinants Based on the Data of 87 Rural Commercial Banks

涉农业务边际成本过高是农村金融机构目标偏移的根本原因。依据2011-2014年湖南省87家县(市)农商行(含农信社)的经营数据,考量涉农贷款边际成本及影响因素。结果显示:微观方面,农商行的涉农贷款比重增加推高了涉农贷款的边际成本,提升资产中的贷款比重有助于降低涉农贷款边际成本,农商行的风险管理能力越强,涉农贷款的边际成本越低;宏观方面,县域金融发展水平的提升有益于降低涉农贷款的边际成本,城乡收入差距较大的县域,涉农贷款的边际成本也越高,提升县域融资市场的流动性有助于降低涉农贷款边际成本。

The high marginal cost of agricultural business is the primary cause of the mission drift of financial institutions.Based on the operating data of87rural commercial banks(including rural credit cooperatives)in Hunan Province from2011to2014,the marginal cost of agricultural loans was estimated by Translog Production Function.Based on the results,quantitative analysis of the influencing factors of marginal cost on agricultural loan was carried out from macro and micro levels.On the micro level,the proportional increase of agricultural loans accelerates the increase of marginal cost,and the proportional increase of loans in the assets can help to reduce the marginal cost of agricultural loans.Besides,the better risk management ability rural commercial banks possess,the lower marginal cost of agricultural loans will be.On the macro level,the improvement of financial development level in the county is beneficial to reducing the marginal cost of agricultural loans,the higher of county income differences are,the higher marginal cost of agricultural loans will be,and the improvement of the liquidity of the county financing market can reduce the marginal cost of agricultural loan.