财政资金引导新型农业经营主体融资模式:运行机理、绩效评估及其启示——基于山东省三个典型案例的比较

The Innovation of New Agricultural Management Entities'Financing Model Promoted by Financial Fund:Operation Mechanism,Performance Appraisal and The Enlightenment--Based on Comparation of Three Typical Cases of Shan Dong Province

构建财金模式的SSP理论框架,并以融资增信、小额信贷保证保险以及农业担保贷款为例,比较三种财金模式的运行机理。研究表明:第一,基于财政资金的引导方式、抵押物性质以及参与者及其关系网络三个维度,三种财金模式的状态差异显著,然而,它们均呈高交易成本特征;第二,受既定状态的影响,三种财金模式的制度结构差异明显,包括边界规则、程序规则以及制裁规则等。然而,它们也显现出共性,包括“选择赢家”策略、复杂的审查程序以及严格的监督制度等;第三,受制度结构选择的影响,从相对绩效来看,三种财金模式在贷款难易程度、覆盖广度以及扶持强度等指标各有优劣。总体上,融资增信的绩效相对较高,农业担保贷款的绩效相对较低。然而,“选择赢家”策略、高利率易扭曲信贷资源配置。因此,应进一步发挥财政资金的引导作用,扩大抵押物范围,完善新型农业经营主体信用体系,促进新型农业经营主体高质量发展。

The paper constructs SSP theory framework of New Agricultural Management Entities'Financing model by Financial Fund,and compares the operational mechanism of Financing and credit system construction Microfinance Guarantee Insurance and Agricultural Secured Loan.Firstly,the situation of three financing models is a marked difference based on three dimensions,namely,the guidance mode of Financial Fund,nature of collateral and the networks of participants.However,they performance the property of high transaction cost in common.Second,being affected by the difference of the situation of three financing models,there are distinct differences of the institutional structure,including the boundary rule,the procedural rule,the penalty rule et al.,but they show the commonplace in character,including the strategy of picking the winner、the complicated audit procedure and the strict supervision system.Third,being affected by the institutional structure of three financing models,each has its own advantages and disadvantages with the perspective of the relative performance,including the degree of dfficulty of loan the coverage and supporting intensity and so on.Overall,the performance of financing and credit system construction is comparatively fairly high,and agricultural secured loan is relatively low.However,the strategy of picking the winner and high interest rates distort the allocation of resource easily.Therefore,we should further promote lead function of financial fund,expand the scope of collateral and complete the credit system of New Agricultural Management Entity in order to promote high-quality development.