P2P网络借贷是否实现了普惠金融目标  

Does Online Peer-to-Peer Lending Help to Achieve Inclusive Finance?

作　　者：胡金焱[1,2] 李建文 张博 Hu Jinyan;Li Jianwen;Zhang Bo

机构地区：[1]山东大学经济学院 [2]青岛大学

出　　处：《世界经济》2018年第11期169-192,共24页The Journal of World Economy

基　　金：作者感谢国家自然科学基金重点项目(71333009);国家自然科学基金面上项目(71873079);国家自然科学基金青年项目(71703080)的资助。

摘　　要：农民和低收入人群作为普惠金融的重点服务对象,在P2P网络借贷市场中的违约风险和能否以合理的成本与平等的机会享受符合自身需求的金融服务值得深入研究。理论分析和经验研究结果表明:参与网络借贷活动的农民提供的可认证信息不足,进而信用评分较低,获得借款后发生违约的可能性较高,而低收入人群的潜在违约风险和实际违约风险均低于中等收入者和高收入者;农民并未享受到优惠的借款利率,低收入人群反而面临融资贵的问题;农民和低收入人群需要机会均等的金融支持,但在P2P网络借贷市场却面临融资难问题。Farmers and the low-income population are the key focus of the inclusive finance service.Therefore,it is worth investigating the credit risk for farmers and populations with a low-income level to find whether these people are able to obtain affordable financial services and online peer-to-peer lending with equal opportunities.Both the theoretical analysis and the results of the empirical evidence show that in the online peer-to-peer lending market,farmers are unable to provide enough authenticated information,so their resulting credit-score is significantly lower and the possibility of default on the financed loans granted to them is substantially higher compared to other study groups.On the other hand,the potential and actual de-fault risks of the low-income populations are much lower than those of the populations that have middle-in-come or high-income levels.Farmers do not enjoy“preferential”borrowing rates,whilst low-income popula-tions face the problem of expensive financing.There is also the phenomenon of the financial exclusion of dis?advantaged groups in the online peer-to-peer lending market,even though they need financial support“under the same conditions”.

关 键 词：P2P网络借贷 普惠金融 违约风险 

分 类 号：F724.6[经济管理—产业经济] F832.4