社会资本有助于农户跨越融资的双重门槛吗?——基于江苏和山东两省的实证分析  

Can Social Capital Help Rural Households Crossing the Double Thresholds of Financing?An Empirical Analysis Based on Jiangsu and Shandong Provinces

作　　者：李庆海[1] 吕小锋[2] 李锐[3] 孙光林 

机构地区：[1]南京财经大学经济学院 [2]西南财经大学国际商学院 [3]北京师范大学经济与工商管理学院 [4]东北财经大学经济学院

出　　处：《经济评论》2016年第6期136-149,共14页Economic Review

基　　金：教育部人文社会科学研究青年项目"农户信贷违约及履约激励机制研究:以苏鲁地区为例"(项目编号:14YJC790067);国家自然科学基金青年项目"新型城镇化中失地农民融资困境的形成;现状与治理研究"(项目编号:71503118);国家自然科学基金重点项目"农村金融体系建设管理研究"(项目编号:71133001);国家社会科学基金一般项目"全要素生产率增长的空间溢出及协同提升路径研究"(项目编号:16BJL033)的资助;江苏高校优势学科建设工程(PAPD)的资助

摘　　要：农户在产生信贷需求后要想获得贷款,往往需要跨越融资的双重门槛,即农户自身"信贷恐慌"引致的主观门槛和金融机构惜贷引致的客观门槛。本文采用2013年江苏和山东两省调查数据,将农户信贷过程依次划分为产生信贷需求、跨越主观门槛和跨越客观门槛三个阶段,通过双重样本选择模型识别影响农户跨越主观门槛和客观门槛的因素,尤其是考察与比较正式和非正式社会资本的影响及其差异。研究表明,正式和非正式社会资本有助于农户跨越融资的主观和客观门槛,其中非正式社会资本在不同门槛的作用差异相对正式社会资本更大一些,不同类型社会资本对客观门槛的作用相对主观门槛要弱一些。此外,这种跨越作用随着市场化进程、正规金融发展和农户收入增长而减弱。Rural households with demanding for credit want to obtain loans, often need to cross the double thresholds of financing, i.e., the subjective threshold caused by the rural households＇ credit panic and the objective threshold caused by the financial institutions＇ credit crunch. This paper is based on the survey data of Jiangsu and Shandong provinces in 2013, and distinguishes the credit process of rural households into three stages, which are incurring credit demand, crossing subjective threshold, and crossing objective threshold. By applying double sample selection model, this paper identifies the influential factors for rural households across the subjective and objective threshold, especially investigates and compares the different influences of regular and irregular social capital. Studies have shown that regular and irregular social capita help rural households across the subjective and objective threshold of financing effectively, which irregular social capital has larger impact on different thresholds than regular capital, and different types of social capital have weaker effect on objective threshold than subjective threshold. In addition, this crossing function is weakening by the process of marketization, the development of financial regularity and the income growth of rural households.

关 键 词：农户 社会资本 双重融资门槛 双重样本选择性 

分 类 号：F832.43[经济管理—金融学]