农村利率市场化改革可行性个案研究:兼对HMS模型的实证检验

The Feasibility Study of Interest Rate Liberalization in Rural Areas and the Comments on HMS Model

本文在回顾利率市场化理论争论的基础上 ,通过对山东省济宁市农村地区经济金融主体的问卷调查 ,直观分析农村信用社利率市场化改革的时机 ,利率浮动对农户和企业的影响 ,对Hellmann Murdock Stiglitz (HMS)关于利率管制作出评论。本文认为 ,我国农村地区利率市场化改革的时机基本成熟 ,应该坚持利率形成机制的市场化。

This paper reviews the literatures on interest rate liberalization and takes a questionnaire survey in Jining City, Shandong Province. Depends on the microeconomic agents' reaction on interest rate liberalization, some comments on Hellmann-Murdock-Stiglitz (1996) model are generated. Two major conclusions are following. First, necessary conditions are prepared in rural regions for interest rate liberalization; and second, market force, monetary authority and local government are three major parties for this task.