社会资本异质性能影响农村金融深度吗——基于多重中介模型的半参数估计  

Does Heterogeneity in Social Capital Affect the Depth of Rural Finance? A Multiple-Mediation Semiparametric Estimation Model

作　　者：姜美善[1] 彭东慧 叶美婷 李景荣 Jiang Meishan;Peng Donghui;Ye Meiting;Li Jingrong(School of Economics&Management,South China Agricultural University,Guangdong,Guangzhou 510642,China;Institute for Economic and Social Research,Jinan University,Guangzhou 510632,China)

机构地区：[1]华南农业大学经济管理学院,广东广州510642 [2]暨南大学经济与社会研究院,广东广州510632

出　　处：《金融经济学研究》2021年第5期83-97,共15页Financial Economics Research

基　　金：国家社会科学基金项目(19FGLB052);国家社会科学基金重大项目(19ZDA115);2020年广东省科技创新战略专项资金(“攀登计划”专项资金)(pdjh2020a0088);国家自然科学基金“重点项目”(71333004)。

摘　　要：随着城镇化的快速推进,农户社会资本结构发生了重大变化。不同类型社会资本对农户信贷数量的总体影响也相应发生了重大变化,作用机理也存在重要差异。基于多重中介模型的半参数估计方法,结合中国9省农户问卷调查数据,验证社会资本异质性对农村金融深度影响效果及其作用机制,结果发现:政治型、组织型和金融型社会资本均能通过信息甄别和监督约束提升农村金融深度,而亲缘型社会资本对农村金融深度提升没有显著影响;政治型社会资本主要通过限制农户违约行为提高农村金融深度,而组织型和金融型社会资本主要通过甄别农户的风险偏好提升农村金融深度。因此,通过金融联结提高政治型、组织型和金融型社会资本的参与,能够有助于农村金融的深度发展。Using a multiple mediation semi-parametric estimation model,based on a survey conducted on rural households in 9 provinces in China,this study investigates the effects of social capital heterogeneity on rural financial depth and the mechanisms behind such an effect.The results showed that,political,organizational,and financial social capital improved the depth of rural finance through information screening,supervision,and restraint,while kinship social capital had no significant impact.Political social capital enhanced rural financial depth mainly by restricting farmers’noncompliance behaviors,while organizational and financial social capital enhanced financial depth mainly by identifying farmers’risk preferences.Therefore,the participation of political,organizational,and financial social capital through financial linkages is conducive to in-depth development of rural finance.

关 键 词：社会资本异质性 农村金融深度 多重中介模型 半参数估计 

分 类 号：F832.3[经济管理—金融学]