国内网贷平台为什么没有实现普惠金融——基于网贷平台信息披露机制的研究综述  

Does Domestic Lending Platform Realized Inclusive Finance——Literature Review Based on P2P Information Disclosure Mechanism

作　　者：胡古月 HU Gu-yue(Graduate School of Chinese Academy of Social Sciences,Beijing 102488,China)

机构地区：[1]中国社会科学院研究生院,北京102488

出　　处：《经济研究导刊》2020年第18期86-90,共5页Economic Research Guide

基　　金：国家社科基金“习近平关于防范系统性金融风险的重要论述研究”(19CKS019)。

摘　　要：网贷平台为融资者直接提供资金,避开商业银行中介体系,实现了金融脱媒。因为参与门槛低、手续便捷,网贷平台提升了我国民间金融的活跃度,成为传统金融体系的补充。针对市场自发产生和发展的网贷平台能否实现普惠金融,综述相关文献,发现我国网贷平台虽然增加了金融多样性,但是由于我国信用认证机制欠缺、投资者未经筛选、行业监管长期真空等原因,导致我国网贷平台信息披露机制失效。因此认为,有效信息披露机制的缺失,会导致投资者和融资方严重的信息不对称,引发网贷平台的歧视行为、羊群效应、风险收益错配和刚性兑付等问题,进而通过影响金融服务的公平性和可得性,最终无法实现高质量的普惠金融。Peer-to-Peer lending platform provides funds directly to the financing providers,avoiding the commercial banking system to achieve the financial disintermediation.Due to its low participation threshold and convenient procedures,the lending platform has raised the level of non-government financial activities in our country and has become a supplement to the traditional financial system.However,can the market natural development of P2P lending platform achieve inclusive financial?Based on the literature review,this paper argues that there are not only problems such as lack of credit authentication system,investor without risk rating,but also regulatory vacuum.These problems have caused the information disclosure mechanism of China’s lending platform to fail.The lack of effective information disclosure mechanism and asymmetry between investors and financing providers will lead to discriminatory behaviors,herding effects,risk-reward mismatches and rigid payment.Furthermore,by affecting the fairness and availability of financial services,high-quality inclusive finance cannot be achieved in the end.

关 键 词：网贷平台 普惠金融 信息披露机制 歧视性行为 刚性付款 失效 

分 类 号：F832[经济管理—金融学]