关系、正规与非正规信贷  

Guanxi,Formal and Informal Credit

作　　者：孙永苑 杜在超[1] 张林[1] 何金财[2] 

机构地区：[1]西南财经大学经济与管理研究院 [2]重庆交通大学财经学院

出　　处：《经济学（季刊）》2016年第1期597-626,共30页China Economic Quarterly

基　　金：自然科学基金青年项目(71401140);中央高校基本科研业务费专项资金(JBK1407040)的资助

摘　　要：基于2011年中国家庭金融调查(CHFS)的数据,本文研究了"关系"对家庭信贷获取的影响。我们发现关系显著地提高了家庭获得正规信贷的能力,但关系对获得非正规信贷的影响并不显著。具体而言,关系指数增大1%,家庭获得正规信贷的概率、贷款笔数以及额度分别增加0.18%、0.0024和3.2%。就关系子指数来说,家庭权势、建立和巩固关系的投入有助于家庭获得正规信贷,而亲缘类关系有助于家庭获得非正规信贷。另外,市场化并没有改变关系对家庭获取信贷的影响。Using 2011 China Household Finance Survey（CHFS）data,we study the impact of＂Guanxi＂on obtaining loans.We find that Guanxi has a positive effect on formal loans,but has insignificant effect on informal loans.Specifically,as Guanxi index increases by 1%,the probability of getting formal loans,the number of formal loans and the volume of formal loans increase by 0.18%,0.0024 and 3.2% respectively.The results of sub-indexes show that a family＇s authority,spending on establishing and enhancing Guanxi can raise the ability of getting formal loans,while blood-based Guanxi can increase the ability of getting informal loans.Moreover,the marketization doesn＇t change the effect of Guanxi on obtaining loans.

关 键 词：关系 正规信贷 非正规信贷 

分 类 号：F832.4[经济管理—金融学]