金融生态环境与农村金融减贫的非线性效应——基于门限面板模型的实证检验

Financial Ecological Environment and Rural Finance's Nonlinear Effects on Poverty Alleviation——Empirical Study Based on Threshold Panel Model

金融扶贫是我国农村减贫的重要环节,但金融减贫的实际效果如何却始终存在争议。本文基于我国2006-2015年省际面板数据,构建以金融生态环境为门限变量的双重门限面板模型,实证检验了农村金融减贫效应的非线性变化特征。研究结果表明,伴随农村金融生态环境的优化,商业金融缓解农村居民收入贫困和综合贫困的作用都逐渐增强;但由于不同渠道的支农金融存在相互替代效应,财政金融的减贫效果呈现先增强后减弱的趋势;与缓解收入贫困相比,缓解农民综合贫困的金融生态环境门槛更高;农户自有投资、地区经济增长等控制变量的减贫效果也各有差异。文章最后提出了优化农村金融生态环境,提高农村金融减贫绩效的若干对策建议。

Financial poverty-assistance is an important step in rural poverty alleviation in China.However,the effect of financial poverty reduction is always controversial.Based on the provincial panel data from 2006 to 2015in China,this paper constructs a double threshold panel model with the financial ecological environment as threshold variable,and validates the non-linear characteristics of the effect of rural poverty alleviation.The empirical results show that,the effect of commercial finance on alleviating the income poverty and comprehensive poverty of rural residents has been gradually enhanced under a better rural financial ecological environment.Due to the substitution effect of different financial inputs,the effect of fiscal reduces after increasing.Compared with the income poverty,the threshold for alleviating the comprehensive poverty is higher.The effect of controlling variables,such as farmer's fund and regional economic growth,are also different.At the end of this paper,some policy suggestions are put forward to optimize the rural financial ecological environment and to improve the performance of rural financial investment.