新型农村金融组织债券融资的最优规模问题研究--基于服务三农的视角  

The Optimal Scale of Bond Financing of New Rural Financial Organizations——From the Perspective of Service

作　　者：李小鹤[1] 

机构地区：[1]郑州航空工业管理学院经贸学院、航空经济发展河南省协同创新中心,郑州450015

出　　处：《中国农学通报》2017年第15期156-164,共9页Chinese Agricultural Science Bulletin

基　　金：河南省社科规划项目“郑州航空港经济综合实验区航空金融组织发展模式研究”(2016BJJ056);2017年河南省软科学研究计划“郑州航空港区科技金融组织发展模式研究”;国家社科基金项目(15BJY095);郑州航院青年基金项目“郑州航空港区中小金融组织内生发展机制问题研究”(2016031001)

摘　　要：为解释金融组织规模与服务金融弱势群体间的倒U型关系,缓解信贷配给难题,促进储蓄向投资的顺利转化,采用均衡分析方法,从私人信息的角度构建了有限供给模型,以解释这类组织的最优融资规模问题。结果表明:私人信息使用成本的限制,使得每个新型农村金融组织都只能为有限的弱势群体提供服务,存在有限的供给能力;融资能力的过度增加,提高这类组织提供小额贷款的机会成本,会降低其为三农等弱势群体服务的贷款规模。从提升个体农户和中小企业贷款可得性的角度出发,政府政策的重点应该包括:放宽银行业准入标准,扶持中小银行机构的发展;同时鼓励中小银行机构数量的扩张,限制其同类兼并。To explain the inverted U relationship between the scale of financial organizations and the financial service vulnerable groups, ensure credit rationing and promote the smooth transformation of savings to investment, the equilibrium analysis method is used to construct a limited supply model from the perspective of private information, thus to explain the optimal financing scale. Results show that： the cost of private information utilization can be so large that each new type of rural financial organization can only provide limited service to the disadvantaged groups. There is a limited supply capacity. Excessive increasing of financing capacity can improve the opportunity cost of such organizations to provide small loans, which could reduce the size of its loans to farmers and other vulnerable groups. From the perspective of improving the availability of loan to individual farmers and small and medium-sized enterprises, the focus of government policy should include： relaxing restrictions on the access standards of banking industry, supporting the development of small and medium sized banks, increasing the number of small and medium-sized banking institutions and limiting their similar merger.

关 键 词：私人信息 有限供给 最优融资额 小额信贷 

分 类 号：F832.35[经济管理—金融学]