农村普惠金融供给协同机制与效率分析

Supply Coordination Mechanism and Efficiency Analysis of Rural Inclusive Finance

推算政府与农村金融机构协同供给农村普惠金融的演化稳定策略,并基于30个省(自治区、直辖市)的宏观面板数据,使用SBM与超效率SBM模型测算两者之间的供给协同效率,进一步通过Tobit模型分解政府和农村金融机构各投入变量对协同效率的影响。结果表明:政府在农村普惠金融实施过程中的主导性决定了其协同决策能够考量自身的成本与收益,而农村金融机构的协同决策较大程度上受政府决策的影响;整体上,我国的农村普惠金融供给协同效率呈逐年上升趋势,其中东部和较发达的中部地区协同效率较高,而西部和欠发达的中部部分地区协同效率偏低;农村基础设施投入、金融机构网点数与协同效率分别呈倒U型和正U型关系,当前这两种要素的投入量均处于不足状态;涉农贷款补贴、金融机构从业人员数和人均农业贷款对协同效率存在正向促进作用,而金融风险对冲机制和农业保险赔付率为负向影响。

This paper calculates the evolution stability strategy for coordination supply of rural inclusive finance by the government and rural financial institutions.Based on the panel data of 30 regions,we use the SBM and super efficient SBM models to measure supply coordination efficiency between them,and use the Tobit model to decompose the impact of input variables by the government and rural financial institutions on the coordination efficiency.The findings show that(1)the decisive role of the government in the implementation of rural inclusive finance makes it possible for the government to consider its own costs and benefits,while the decision-making of rural financial institutions is largely influenced by that of the government;(2)on the whole,coordination supply efficiency of rural inclusive finance in China has been rising year by year,and the eastern and more developed central regions show higher efficiency while western and less developed central regions show lower one;(3)rural infrastructure investment and the number of financial institutions have inverted U-shaped and positive U-shaped relationship with coordination efficiency respectively,and the current input of these two factors is insufficient;(4)agricultural loan subsidies,the number of employees in financial institutions and per capita agricultural loan have positive effects on coordination efficiency,while negative effects on financial risk hedging mechanism and agricultural insurance indemnity rate.