【作者】 刘健；

【导师】 胡金焱；

【作者基本信息】 山东大学 ， 财政学， 2008， 博士

【摘要】 我国的农村经济发展尚面临许多瓶颈,其中农村金融问题近些年来尤其引入关注。这是因为,20世纪90年代末以来,国有商业银行迫于成本压力逐步退出了农村金融市场,并由此形成了巨大的“金融真空”,需要其他金融机构进行填补;虽然外资银行在新世纪迈出了进军我国农村金融市场的第一步,但是其起步阶段业务较少、品种单一,尚不能完全满足农村金融市场的旺盛需求。基于此,承担农村金融发展的重担就落在了农村信用社的肩上。尽管农村信用社以此为契机,在农村金融市场体系中占据了举足轻重的地位,但是其发展还存在诸多差强人意之处,在一定程度上制约了其对农村经济发展的贡献度。概括而言,我国农村信用社现存的主要问题包括:首先,我国农村信用社存在的最大问题,是在正式制度安排方面尚不规范。一方面,从农村信用社的产权制度来看,虽然在其成立之初确定了合作制的原则,但是在随后的演进发展过程中,由于政府对农村信用社干预过多,甚至强制性地变更产权,从而导致农村信用社脱离了我国的实际情况。农村信用社不仅没有遵循合作制的原则,而且剥夺了农民参与农村信用社的权利,并由此引发了一系列问题,如产权主体不明确、法人地位虚置、“三会”制度名存实亡、激励机制失效等。另一方面,从农村信用社的监管制度来看,中央政府和地方省级政府对其进行行政管理;中国人民银行和银监局对其实施监督管理;而中国农业银行和省效果不佳,而且机构变更得过于频繁也使农村信用社的稳定性大打折扣。其次,我国农村信用社的发展还受到了非正式制度的制约。一方面,农村信用社企业文化的缺失直接制约了其经营业务的开展;另一方面,农村长期形成的习俗与社会关系抵押等非正式制度因素,则间接影响了农村信用社的发展,其影响路径可以概括为:非正式制度基于信息不对称、供需不匹配等特征,衍生出非正式金融,而非正式金融出现之后,利用其信贷业务的优势强有力地挤占了农村信用社的发展空间,威胁到农村信用社在农村金融中的地位。最后,正是由于我国农村信用社在正式制度和非正式制度上的缺陷,导致其经营情况不容乐观。例如,在与国内其他银行业金融机构的横向对比中,我国农村信用社的差距还是比较明显的——资产负债规模与营业网点比例不协调;贷款市场份额较小;对农村金融市场掌控不足;贷款回收率停滞不前:吸收人民币储蓄存款业务不容乐观,等等。基于农村信用社在农村金融市场中的发展现状,本文试图以山东省为例,对我国农村信用社进行相应的理论与实证分析。也就是说,在理论方面,依托制度经济学对农村信用社的正式制度和非正式制度进行探讨;在实证方面,借助计量经济学方法和问卷调查分析,对其制度分析进行有力的佐证,从而明确农村信用社现有的缺陷及其改革的方向和目标,最终使农村信用社能够更好地服务于农业、农村和农民,真正发挥农村金融主力军的作用。本文各章的主要内容如下:第1章:导论。本章首先提出选题的现实背景,即农村信用社发展的现实背景、存在的诸多问题与面临的制度约束;然后对我国农村信用社、正式制度与非正式制度、正式金融与非正式金融等相关概念分别进行了界定;最后对本文的研究方法、研究思路和主要内容,以及本文的创新点和不足之处进行了描述。第2章:关于农村信用社的文献综述。本章主要概括了国内外学者有关农村信用社发展的最新研究成果,其内容涉及四个方面:(1)农村信用社的贡献与作用,即农村信用社是农村乡镇企业的信贷提供者、农村经济的主要支柱和重要的金融服务中介;(2)农村信用社的生存空间,可以通过竞争优势与竞争劣势两个方面来反映;(3)农村信用社绩效的理论与经验研究;(4)农村信用社在产权制度和监管制度方面的改革建议。第3章:我国农村信用社发展的现状分析。本章主要从三个方面对我国及山东省农村信用社的发展现状进行分析。第一,通过回顾农村信用社的演进过程、自身的纵向发展以及与其他银行业金融机构的横向比较,找出我国农村信用社取得的成就与存在的差距。第二,结合我国的实际情况与相关数据,采用协整分析方法,探讨我国农村信用社发展对农村经济增长的影响。结果表明,农村信用社的发展对我国农村经济增长起着至关重要的作用。第三,利用山东省德州市农户与农村信用社的问卷调查,概括总结了我国农村信用社的现行特点及其发展所面临的制约因素,结果表明,不良贷款比率、股权分散度对农村信用社带来了不可忽视的负面影响,而乡镇企业的产值等因素则对其产生了明显的正面效应。第4章:正式制度与我国农村信用社发展。本章首先对正式制度与农村信用社发展进行了理论分析,即在产权制度层面,通过回顾我国农村信用社的产权制度变迁,找出其在产权所有、产权结构方面存在的问题;在监管制度层面,分别从农村信用社的行政管理制度、监督管理制度、行业管理制度三个角度进行回顾,分析其在监管方面的缺陷。在理论分析的基础上,本章采用DEA和面板数据实证方法,就山东省农村信用社正式制度对其绩效的影响进行了检验。结果发现,各种正式制度因素对农村信用社产生了不同的影响,但就总体而言,正式制度并未有效地促进样本农村信用社的发展,从而验证了上述理论分析的内容。第5章:非正式制度与我国农村信用社发展。本章依然沿用先理论分析、后实证检验的分析思路,首先阐述非正式制度的组成部分及其发展现状,然后从理论角度分析了非正式制度对农村信用社的影响路径,即非正式制度基于信息不对称和供给需求不匹配的原因,衍生了非正式金融;而非正式金融的产生,对农村信用社产生了正面效应和负面效应。在此基础上,本章根据对山东省菏泽市不同对象进行的问卷调查,实证检验了影响农村信用社的非正式金融因素。结果表明,交易者对非正式金融融资方式的偏好、借贷资金期限的选择、偿还情况均会对农村信用社的经营状况产生不同的影响。第6章:相关政策建议。本章在总结上述内容的基础上,对我国农村信用社的未来发展提出了相关的政策建议:在正式制度改革方面,要因地制宜,视不同地区的经济发展及其农村信用社情况综合考虑产权发展模式;通过规范“三会”职能、创建激励机制来改革法人治理模式;利用内部控制、风险管理、监管指标的改革辅助监管模式的改革。在非正式制度改革方面,不仅要从农村信用社的角度改造非正式制度,而且要对其衍生的非正式金融加以引导、辅助、完善,其内容涉及承认非正式金融存在的合法性;为其建立相关的规则框架;促使非正式金融向社区银行转变等。在正式制度与非正式制度的结合发展中,利用二者各自的比较优势促使二者的协调合作;与此同时,对于二者衍生的正式金融与非正式金融,促使其开展良性的垂直合作与共同发展。更多还原

【Abstract】 Nowadays, the development of China’s rural economy is facing lots of bottlenecks wherein the rural finance, in recent years, is especially highlighted. The state-owned commercial banks had to retreat from rural financial market due to the cost pressure since the end of 20^th century, and thus leave the huge "financial vacuum", needing to be filled up by other financial institutions. Although the foreign banks have been on the stage recently, the small-scale operation and simplified business at the beginning stage cannot satisfy the flourishing demand in the rural financial market. As a result, this task has been transferred to the rural credit cooperatives （RCCs）. Despite the important role in the rural financial market, RCCs has still puzzled by many difficult issues, which actually has restricted its contribution to rural economic development.Summarized speaking, the main problems existing in China’s RCCs include the following:First, China’s RCCs are not normative in the formal institutions including property rights and regulation system, which is the biggest problem at present. On the one hand, RCCs had established the cooperative principle at the beginning stage, but due to the overdue government interference, and even the compulsory change for property rights, RCCs actually hasn’t followed this cooperative principle and deprived the farmers’ rights to participate in the management of RCCs. As a result, a series of problems have emerged. For example, the body of property rights is uncertain; the status of artificial person is virtual, the system of rights does not work, and the system of stimulation is invalid. On the other hand, too many ministries have regulated RCCs’ management. For instance, the central government and local governments has implemented the administrative management on RCCs; China’s People Bank and Bureau of Bank Regulation have supervised it simultaneously, China’s Agricultural Bank and RCCs Union had carried on the industrial management several years before.Second, the development of China’s RCCs has been affected by informal institutions at the same time. For one thing, RCCs are lack of good enterprise cultural and thus directly affect their operation. For the other thing, the intrinsic customs and habits indirectly bring about some effects, and the path can be summarized as: informal finance derived from informal institutions based on the asymmetric information and unmatched supply and demand, then availed itself of credit advantage and raced to contral the rural market, which threatens the development space and status of China’s RCCs.Third, due to the drawbacks in formal and informal institutions, RCCs’ operation is not optimistic. For example, if comparing with the other domestic banks, China’s RCCs, although processing the most business networks, their scale in assets and liabilities, and that in deposits and credits is smaller than those of state-owned commercial banks and equity commercial banks. More important, their bad debts are relatively higher, and this is a big hidden trouble indeed.Considering the important status of China’s RCCs in rural economy, this dissertation attempts to make an integrated theoretical and empirical analysis on it. That is, the dissertation resorts to institution economics to analyze the formal and informal institution theoretically, and apply the econometric analysis and field survey questionaires to test the institutional analysis. By these efforts, this dissertation tries to find the drawbacks RCCs have and thus provide the direction and aims for China’s RCCs reform in the future.The main content of the dissertation consists of 6 chapters.Chapter 1 （Introduction） is to put forward the hook at first that China’s RCCs are situated in a quite different background, facing many problems and institutional restrict. Second, it gives the definitions of China’s RCCs, formal & informal instition, and formal & informal finance. Third, it introduces the methodology applying inhere, including comparative method, combination of theoretical and empirical analysis, figures and tables and case study, and lists the research logic, main contents, the possible creation and existing weak points.Chapter 2 （Literature Review） attempts to summarize the latest research on RCCs by domestic and overseas scholars and involve the following four aspects: （1） the contribution and function of RCCs, i.e. the credit supplier of rural enterprises, the main pillar of rural economy and important financial intermediary. （2） the survival space for RCCs, which can be reflected by the competitive advantage and disadvantage. （3） the theoretical and empirical analysis on the performance of RCCs, and （4） the policy suggestion on how to reform the property right and supervision.Chapter 3 （Status Quo Analysis） is to compare the development of China’s RCCs. Firstly, by comparison of RCCs’ all development stages and operation as well as comparison with other domestic banks, it is found that China’s RCCs have improved a lot, but still lagged in some aspects. Secondly, the dissertation employs the co-integration analysis to look for the relationship between RCCs and rural economic growth. The result shows that RCCs has been playing an important role in the rural economic growth. Thirdly, the questionaire results from Dezhou, Shandong Province indicate the status quo of RCCs. Multi-regressive analysis is made using the data from Dezhou, and then finds the ratio of bad debt and diversication of equity lead to unneglectable negative effect on RCCs while the production of town-and-village enterprises produces the statistically significant positive effect.Chapter 4 （Formal Institution Analysis） is to make a theoretical and econometric analysis from the angle of formal institution. The problems in property rights are put forward on the basis of review on the change of property rights of China’s RCCs, and at the same time, the review is made on administration, regulation and industrial management of China’s RCCs. Then this chapter employs the DEA and panel data methodology and tests the effect of formal institution on the performance of RCCs. The results indicate that various institutional factors produce the different effect on RCCs, but totally speaking, the formal institution has not pushed the development of RCCs effectively, and thus justifies the above theoretical analysis.Chapter 5 （Informal Institution Analysis） is also to follow the logic of "theoretical analysis first, then econometric analysis". First, the effect of informal institution including enterprise culture, habit and social relationships on the existence of China’s RCCs is given. Then the chapter introduces how the informal institution leads to the emergency of informal finance based on asymmetric information and unmatched supply and demand, together with how the informal finance affects China’s RCCs. On the above basis, the chapter makes a test on the informal financial factors affecting RCCs in light of the questionaire in Heze, Shandong Province. The results indicate that, the preference for financial forms by traders, the choice of credit maturity, and repayment of credit produce the distinct effect.Chaper 6 （Conclusion and Policy Suggestion） is to summarize the above mentioned and design the direction of China’s RCCs development. As for the property rights mode in the formal institution, all the regions should choose the cooperative mode, equity cooperative mode, equity mode and community bank mode respectively according to the different situation. As for the governance mode in the formal institution, the institution of artificial person should be reformed considering the governance of artificial person and stimulation institution. As for the regulation mode in the formal institution, it suggests that China’s RCCs revise the inner control, exposure management, regulation indicators and outer restrictions. Considering the informal institution reform, the informal finance derived from informal institution can be induced and perfected including the acknowledgement of existence of informal finance, establishment of relevant rules, and transformation from informal finance towards community banks. At the same time, the formal & informal institution, and formal & informal finance should be coordinated and cooperated further.更多还原