中国农户融资选择意愿研究——来自10省2万家农户借贷调查的证据  

An Empirical Analysis on Rural Households' Choice Behavior of Financing:A Survey on Loans of 20000 Rural Households From 10 Provinces

作　　者：陈鹏[1] 刘锡良[2] 

机构地区：[1]西南财经大学中国金融研究中心,四川成都610074 [2]中国人民银行贵阳中心支行,贵州贵阳550001

出　　处：《金融研究》2011年第7期128-141,共14页Journal of Financial Research

基　　金："教育部人文社科重点研究基地重项目:中国农村金融改革跟踪研究与绩效评价"课题资助

摘　　要：农村金融研究核心议题之一是农户融资行为特征问题。农户在自身积累、民间融资、正规金融机构融资等多种融资来源选择中,哪些因素影响着农户融资选择行为?同时,农户融资选择是否存在一定的融资次序?本研究应用2007年人民银行委托国家统计局在全国10省区调查获得的2万份调查问卷数据,进行了系统地实证研究。实证研究表明:(1)中国农户外出务工获得非农收入对农户借贷具有很强的替代性;(2)民间互助性借贷对正规金融机构贷款具有较强的替代性,而东部和中部相对发达地区对民间互助性借贷意愿更为强烈;(3)中国农户融资显著偏向内源融资,这集中反映了中国农户借贷行为具有"道义小农"假说的特点;同时,农户对商业性金融和互助性金融两种外源融资之间选择并不存在显著差异,两者之间存在选择的替代均衡。What are the elements that have impact on the farmers＇ financing choice behaviors when comparing their different approaches to financing？ Beside, does the financing sequence exist in their choices？ The paper conducts a comprehensive research based on the data of 20000 questionnaires survey commissioned by the PBC in 2007. The study indicates ： 1. The migrate workers＇ non-agricultural income can be a strong substitute for the loans. 2. the civil mutually-beneficial loans are a substitute for the formal financial institutes, especially non-official financing is more popular in the relatively developed areas in eastern and central. 3. the Chinese farmers＇ financing significantly depend on their own savings, this justifies the hypothesis of the ＂Conservative Peasant＂. in addition, Chinese farmers＇ financing choice has no distinction between the commercial financing and mutually-beneficial financing that can substitute for each other.

关 键 词：农户融资渠道 融资次序 相对风险比 STEREOTYPE LOGIT模型 

分 类 号：F832.4[经济管理—金融学] F224