加入合作社与农户信贷可得性——基于合作社发展质量的分析  

Cooperative Membership and Rural Households'Credit Accessibility:A Perspective on the Quality of Cooperatives

作　　者：王剑锋[1] 倪丹丹 王骜然 马太超 WANG Jianfeng;NI Dandan;WANG Aoran;MA Taichao(China School of Banking and Finance,University of International Business and Economics;Rural Development Institute,Chinese Academy of Social Sciences)

机构地区：[1]对外经济贸易大学中国金融学院,北京100029 [2]中国社会科学院农村发展研究所,北京100732

出　　处：《金融研究》2024年第8期169-187,共19页Journal of Financial Research

基　　金：国家社会科学基金一般项目(21BJY126)的资助。

摘　　要：本文在总结和梳理中国合作社发展状况基础上,使用中国乡村振兴调查(CRRS)数据库,分析农户加入合作社对农业正规信贷可得性的影响。实证结果显示,农户入社对农业正规信贷可得性的提升作用相对较低,该研究结论在使用倾向得分匹配法、工具变量法进行内生性处理及其他一系列稳健性检验后依然成立。机制分析表明,合作社可通过提高收入水平、信誉水平及正规信贷偏好,从供求两端改善入社农户农业正规信贷可得性,进一步分析发现,合作社发展质量良莠不齐是导致其助贷效应偏低的重要因素。合作社发展质量主要体现在合作程度与合作绩效两个方面,合作程度较低与合作绩效不足都制约了合作社助贷效应的发挥。此外,实证结果表明,扩大农户农地经营规模、高标准农田建设及数字基础设施建设等外部因素,能够增强合作社的助贷效应。本研究有利于客观认识农业农村实体经济质量对农户融资的制约作用。Rural households are the backbone of agricultural production.Improving their access to formal agricultural credit and addressing their financing difficulties are crucial for advancing agricultural modernization,revitalizing rural areas,and ensuring national food security.Credit accessibility for rural households is shaped by the development of the financial system,along with institutional and organizational factors in the agricultural and rural economy.As a major agricultural nation,China has recently implemented various financial reforms to ease rural households'financing difficulties.These include both targeted measures addressing specific issues and broader policies offering comprehensive solutions.Despite these efforts,challenges persist,with the issues inherent in agricultural and rural areas limiting rural households'credit accessibility.In the future,enhancing rural households'access to formal agricultural credit will require reforms of influential institutions and organizations in agriculture and rural areas.Cooperatives are one such organization.Using data from the China Rural Revitalization Survey(CRRS)database,this paper studies how cooperative membership influences rural households'access to formal agricultural credit.The empirical results show that while joining cooperatives improves rural households'access to formal agricultural credit,the effect is weaker than expected based on both theoretical analysis and international experiences.Our results remain after mitigating endogeneity issues using propensity score matching(PSM),instrumental variables,and a series of other robustness tests.Mechanism analysis reveals that cooperative membership affects rural households'access to credit through at least three channels:improving rural households'income levels,strengthening their creditworthiness,and increasing their preference for formal credit.We also analyze why the effect is weaker than expected.The results show that the quality of cooperatives is a key factor that limits the cooperatives'efficiency in i

关 键 词：加入合作社 信贷可得性 合作社发展质量 普惠金融 

分 类 号：F32[经济管理—产业经济]