利率市场化、市场势力与农村金融市场效率损失——以江苏为例  

Interest Rate Liberalization,Market Power and Rural Financial Market Efficiency Loss: A Case of Jiangsu Province

作　　者：黄惠春[1,2] 李静 

机构地区：[1]南京农业大学金融学院 [2]南京农业大学江苏农村金融发展研究中心,江苏南京210095

出　　处：《南京农业大学学报（社会科学版）》2015年第1期32-40,124,共9页Journal of Nanjing Agricultural University(Social Sciences Edition)

基　　金：国家自然科学基金青年科学基金项目"农村金融机构信贷支农长效机制研究"(71103088);国家自然科学基金项目"农村土地承包经营权抵押;农户异质性与信贷约束缓解"(71473124);国家博士后基金项目"农地抵押贷款模式;绩效与制度需求"(2012M520056)

摘　　要：本文以江苏为例基于双向固定效应模型对利率市场化进程中农村金融机构市场势力对农村金融市场效率损失的影响进行实证分析。研究表明:利率市场化提高了农村信用社的贷款价格,且农村金融机构市场势力越强,贷款价格上浮比例越大,但始终低于政策规定的浮动上限;利率市场化对农村金融市场效率损失的影响与农村金融市场竞争程度、农村信用社市场势力密切相关;提高农村信用社风险控制水平和营运能力有利于降低农村金融市场效率损失。基于此,在实现利率市场化条件下提高农村金融市场效率,政府部门必须加大农村金融市场开放力度,增进农村金融市场竞争性;金融机构必须提高定价能力、风险防范能力和金融创新能力。Based on the two-way fixed effects model,this paper aims at analyzing the market power of rural financial institutions and its relationship with rural financial market efficiency loss in the process of interest rate liberalization in Jiangsu Province.The results show that the interest rate liberalization raised the loan interest rate of rural financial institutions,and that the stronger market power was,the greater price floated,which was always lower than the upper floating limit. Rural financial market efficiency loss was closely related to the degree of rural financial market competition and the market power of rural financial institutions. Improving risk control and operation ability of rural financial institutions can help to reduce rural financial market efficiency loss.Therefore,to improve the market efficiency,the government should enhance the competition of rural financial markets,and rural financial institutions must improve their pricing ability,risk management and financial innovation.

关 键 词：利率市场化 市场势力 农村金融市场效率损失 勒纳指数 

分 类 号：F830.9[经济管理—金融学]