利率浮动政策、差别定价策略与金融机构对农户的信贷配给  

Interest Rate Policy,Differential Pricing policy and Rural Credit Ration by Formal Financial Institutions in China

作　　者：马九杰[1] 吴本健[1] 

机构地区：[1]中国人民大学农业与农村发展学院,北京100872

出　　处：《金融研究》2012年第4期155-168,共14页Journal of Financial Research

基　　金：教育部哲学社会科学重大课题攻关项目(07JZD0009);国家社会科学基金重点项目(08AJY027);高等学校博士学科点专项科研基金(20090004110004)的资助

摘　　要：本文从不完全契约理论视角构建了利率对农村金融机构信贷供给决策影响的模型,基于该模型分析利率及其变动对农户遭受信贷配给类型和程度的影响;然后运用实地调查数据和多元Logit回归模型进行了实证分析。研究发现:利率变动与农户遭受的信贷配给程度之间存在非线性关系,利率增加先减缓农户信贷配给,而后,利率进一步提升将会导致信贷配给程度的增强;当前利率已经处在相当高的水平上,利率提升引发的信贷配给已相当明显。In the paper, the authors build an incomplete contract theoretical model to analyze the impact of interest rate policy and differential pricing policy on the credit ration of formal financial institutions decision. Then, the field data and muhinomial logit model are used to the empirical econometric analysis. The results show that there is nonlinear relationship between interest rate and extent of credit ration faced by agricultural households. It means that when interest rate growing, the level of credit ration decreased, and then increased.

关 键 词：农村金融 利率浮动政策 不完全信贷契约理论 信贷配给 

分 类 号：F832.4[经济管理—金融学]