村级发展互助资金实行分期还款有利于其信贷风险控制吗?——基于5省160个样本村的调查数据

Is it beneficial to control the credit risk of village development mutual aid fund by installment repayment?——Based on the survey data of 160 sample villages in 5 provinces

村级发展互助资金在为穷人提供金融服务时借鉴了小额信贷原则以控制信贷风险,其中的分期还款机制更是得到了理论研究的普遍认可,但缺乏实证研究的检验。本文基于5省160个样本村互助资金的调查数据,运用倾向得分匹配法实证检验了村级发展互助资金实行分期还款对其信贷风险的影响。研究发现,村级发展互助资金实行分期还款有利于降低其不良贷款率。为此,应当在村级发展互助资金中大力推行分期还款机制,从而有助于实现信贷资金的良性循环。

When providing financial services for the poor,village development mutual aid funds refer to the principle of microfinance to control credit risks.The installment repayment mechanism is generally recognized by theoretical research,but lacks the test of empirical research.Based on the survey data of 160 sample villages in 5 provinces,this paper empirically tests the impact of installment repayment on the credit risk of village development mutual aid funds by means of propensity score matching method.It finds that the installment repayment of village development mutual aid funds is beneficial to reduce the non-performing loan ratio.Therefore,the installment repayment mechanism should be vigorously promoted in the village development mutual aid funds,so as to help realize the virtuous circle of credit funds.