标会的投融资效率研究——来自温州市苍南县的一个案例分析  

The Research on the Efficiency of Bidding Roscas' s Investment and Financing——A case Analysis from Cangnan County of Wenzhou City

作　　者：陈德付[1] 戴志敏[1] 

机构地区：[1]浙江大学经济学院,浙江杭州310027

出　　处：《财经研究》2005年第9期60-70,共11页Journal of Finance and Economics

摘　　要：互助会作为一种重要的非正式金融制度,在我国民间广泛存在。文章以温州市苍南县的一个村庄标会为例,首先运用利率比较法分析了标会的投融资效率,然后结合我国农户的特殊金融需求、农村地区的信用关系以及温州地区的文化传统等方面对标会的投融资效率作了进一步的分析。文章认为标会作为一种投融资机制是有效率的,但参与者对倒会风险的担心降低了它的效率,导致它难以大范围和大规模地发展,因而如何有效地控制风险是规范和发展标会的关键所在。Being an informal financial institution, Roscas （Retating Savings and Credit Associations） has existed widely for a long time in rural areas. This article examines a bidding Roscas example collected from one of the villages in Cangnan County of Wenzhou City. Firstly, it uses the method of interest rate comparison to analyze the efficiency of bidding Roscas＇s investment and financing. Then, it goes further to examine the efficiency from the aspects of Chinese farmer＇s special financial needs, rural areas＇ credit condition and Wenzhou＇s cultural traditions. The conclusion is that the bidding Roscas is a very efficient financing and investment mechanism. Nevertheless, the participants＇ worry about the risk of breaking the agreement reduces its efficiency and makes it very hard to develop. Therefore, how to control the risk effectively becomes the crucial factor to standardize and develop the bidding Roscas.

关 键 词：互助会 标会 投融资 效率 温州 

分 类 号：F832.39[经济管理—金融学]