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中国农学通报

中国农学通报 ›› 2017, Vol. 33 ›› Issue (15): 156-164.doi: 10.11924/j.issn.1000-6850.2013-1811

所属专题： 生物技术； 现代农业发展与乡村振兴

• 三农研究 • 上一篇    

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

李小鹤   

  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）
  • 收稿日期:2013-07-02 修回日期:2017-03-20 接受日期:2017-03-24 出版日期:2017-05-26 发布日期:2017-05-26
  • 通讯作者: 李小鹤
  • 基金资助:
    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)。

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

Li Xiaohe   

  1. (Economic and Trade Institute, Zhengzhou Management Institute of Aeronautical Industry, Zhengzhou 450015)
  • Received:2013-07-02 Revised:2017-03-20 Accepted:2017-03-24 Online:2017-05-26 Published:2017-05-26

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。

关键词: 移栽, 移栽

Abstract: With the gradually developing of all types of new rural financial organizations, the regulators have been more pressure, asked to relax control and expand them financing ability. But as international experience showed, following the growth financial capacity, this kind of financial organization have to deviate or give up the aim of servicing the farmers and small and medium enterprises. On the base of private information, a limited supply theory model is constructed in this paper. It can be used to answer the question of what is the optimal financial scale of this kind of organization. The conclusions as following: each of them can only service limited vulnerable group, have only limited supply capacity; with excessive increase of financial ability, this kind of organization will reduce the size of the loan service to vulnerable groups, such as ‘SanNong’; in contrast, the direct selling is better than the underwriting on bond financing, because the direct selling can help to improving the financial coverage; because of the lack of private information ,if the financing objects are restrained, the bond financing will be very difficult.

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