| The problem of the problems of agriculture, farmers and rural areas is the biggest problem, which is the problem of rural economic development. China’s current stage of development of the rural economy really "bottleneck" is funding. And the rural financial development of the rural economy is the most important capital allocation system; rural economic development is one of the core issues. Scientific and orderly financial activities are the essential conditions of a prosperous rural economy.Since reform and opening up,the rural economic system, forms of organization and corporate governance structure has undergone profound changes, and greatly promoted the rural rapid economic development, but the rural financial system has few revolutionary changes. To develop the rural economy, state was to provide effective financial support based on financial cooperation, which fails to solve the problem of rural funding gap. There are inadequate funds to expand. Conversely, rural loan to meet farmers and the rural financial needs of SMEs plays a larger role. This country has been trying to establish the basis for cooperation in the financial, commercial finance, financial policy division of the rural cooperative financial system. Simple market and the commercialization of the rural financial and has not undergone substantial changes. The simply set-up and operational agencies redrawing have not fundamentally solve the economic mainstay of rural credit demand to the problem. State still fails to offer financial services sector for ordinary farmers, nor do rural financial services offer assistance and support. Only through increased volume of loans in rural areas, state does not solve the financial problems in rural areas.Taking a panoramic view of the rural financial system in the successive changes, which can be seen in two distinct features:(1) rural financial system and each system is top-to-bottom changes in the mandatory external behavior rather than bottom-up orientation or ontogenesis behavior.(2) the change of rural financial system is that of legal status and translocation of the rights, rather than that of organizational structure or the form of financial and property rights of expropriation, in other words, all forms of change, rather than management patterns, and improve the efficiency of financial and other substantive changes.Since reform and opening up, fundamental reason of inefficiency of the rural financial reform lies in the government-led reform of the mandatory mode. The model is the continuation of traditional exogenous supply-oriented financial system under the framework of "technical efforts," is reflected in the national interest preferences."Technical improvements" can only have short-term effects of change. They are not enough to improve rural financial operations of the overall environment or unable to provide rural finance development of a new system environment. Therefore the need to reform the rural financial reform path:from the top-down model reflecting government interests reform into a bottom-up one adjusting to the demand of farmers. nonagricultural industries, that is, changing from rural financial means to be grown up exogenous led into endogenous-oriented.Endogenous rural-based financial system has the characteristics of induced interests, which stressed the micro needs of the main interests and preferences. This modern sense of the rural financial system, including the demand side, the supply side and the regulatory side three aspects, namely:rural micro-economic organization and its structure (farmers and the rural SMEs), and the rural financial organizations and their structure, rural financial macro-control of the main. So finance of ontogenesis with the rural areas includes the construction of rural financial needs of the main mold, the main supply of rural financial reform, and financial supervision main recycling.Up to now, the rural financial system and the practice of reform, most are from the financial institutions and financial supply perspective. From the functional point of view and the needs of the rural financial system easy to grasp the problems which exist in nature, help fill the traditional perspective deficiencies. The body will absorb the advantages of view, the use of functional perspective, make full use of its real opportunity to explore China’s rural financial system in the way; demand from the perspective of supply, analysis of China’s rural financial system of historic changes, the operation status on rural financial system changing characteristics, the deep-seated reasons for the development of the rural economy, and adaptation to explore rural economic characteristics of the operation of the financial system and the remodeling path.This thesis can be divided into four parts:the first part of the introduction, theoretical assumptions (questions); the second part is theoretical assumptions of chapter1and chapter2; the third part is the third chapter, the hypothetical historical practice of inspection (practical basis); Part four includes from chapter four to chapter9, exploring "how to do" that is to study how to establish a rural health-oriented within the financial system. That is,"What" and "why"(theory and practice),"how to do."Introduction includes the background to the study and the significance of the research status, research tools and methods, the basic ideas and logical structure. It points out that since the reform and opening up of rural financial reform, inefficient fundamental reason lies in the government-led reform of the mandatory mode must reform of the rural financial reform path:from the top-down government response to the interests of the mandatory preference reform model into a bottom-up demand for the main manifestation (farmers, nonagricultural industries) preferred interests induced reform model, that is, the means of growth of rural finance changes from exogenous to endogenous-oriented.The first chapter is the distinction and comparison of the way of growth of rural finance. Monetary growth is qualitative and quantitative growth of both formation and growth inhibition and restraint, deepening the three stages. Divided the rural financial growth means the type and model of growth both ways, that external-oriented rural financial growth of the disadvantages.Chapter two is the theoretical foundation of the rural financial growth mode.1.Institutional Change and Innovation Theory:Institutional Change and Innovation is the driving force of economic subjects expect to get the biggest external profits the initial choice of system will strengthen the existing system of incentives and inertia; induced institutional change and the mandatory system changes the new system is changing economics of the two systems model; The new system economists use to study the supply and demand theory of supply and demand and balance system.2. The financial system changes with the stage cycle. Financial ownership arrangements can be divided into initial state, stagnation stage of the financial system; evolution of the state, the financial system innovation stage; optimal conditions, mature stage of the financial system. Changes in the financial system are by-oriented interest groups to promote the process of evolution cycle stages. In-cycle completed, and then enters the next cycle of a process of change. Each stage of the different forces resulted in a contrast-species model-based system changes. Each phase of different ownership arrangements resulted in a different efficiency.Chapter three is historical change of rural financial growth mode. The first stage:a centralized planned economy period (1956--1978) typical exogenous growth-oriented way. Recalling the period of the planned economy of China’s rural financial work and the development of the financial system, from the perspective of industrialization in rural economic structure changes, it analyzes external-led growth of the rural way of financial sources and backgrounds, as well as external-led growth of the rural financial means for explanations. The second stage: Since the reform and opening up (1978--date) of the government-led reform of the rural financial growth and rural financial mechanism within the bud. Recalling since the reform and opening up of rural financial reform and development of the rural financial system without authorization to conduct the study, it analyzes the government-led reform of the rural financial inefficient, and describes the development of the rural economy institutional barriers breakthrough with the development of the rural financial mechanism within the seeds.Chapter four is study of rural credit cooperatives or cooperative system feasibility. Theoretical circles on the reform of China’s rural credit cooperatives major debate on the issue of property rights. The discussion also focused on the institutional arrangements. The essence of the argument focused on not to uphold the cooperative system and the extent to uphold the cooperative system. Rural financial cooperation is the reality of the economic system needs. The rural demand should have been inconsistent with the rural credit cooperatives, which is the basis for the correct positioning. Because the vested interests of the credit unions exist, the Nash equilibrium game between the government and credit cooperative system regulating is cooperative credit unions resist norms. Government is to abandon cooperative norms. Nash equilibrium game between the government and the farmers cooperative is not in the farmers cooperative norms, and government is to abandon cooperative norms. Therefore, the existing credit cooperatives on the basis of cooperative norms can not succeed. So China’s rural financial cooperation has to build a second stove. Finance of ontogenesis with the rural areas is a natural selection process. Along with the strengthening of market forces and institutional conditions for change will gradually break exogenous mandatory system arrangements path dependence, and ultimately exogenous mandatory system will be arranged within the Health induced market trading system has been replaced.Chapter five is about reform issues of Agricultural Development Bank of China. Currently, the policy-oriented financial theoretical research in general differences, disputes, is the focus of the debate in policy-oriented banks and the functions way. Agricultural Development Bank of the most direct and external issues is a continuous problem, the underlying issues, including system function and mechanism of the defects. Based on the policy of banks characteristics, we build on the policy of total banking system function, and for the system to function as an explanation of the China Agricultural Development Bank, the basic reform advocates, which includes:effectiveness of the financial markets in China and the Agricultural Development Bank of reform goals; State Utility and the China Agricultural Development Bank, the scope of business.Chapter six is about civil finance:areas, soil, and operation and development trends. The study on how to build a private banking system to finance the development of civil norms is of great theoretical significance and practical significance. Current academic theorists are the mainstream thinking of private banking for the survival and development is reasonable and necessary, so they should be renamed in terms of clear legal status, and gives the corresponding room for survival and development. Rural finance development and the existence there had been several thousand years of history, there are deep rooted inevitability: Rural "economic survival" and the rural financial nature; The Fragility of Agriculture needs more state support. Quasi-fiscal nature; formal rural financial institutions operate with the high cost and high-risk; non-formal financial relationship between the use of social capital important to a significant reduction in information and transaction costs, is the formal financial did not have the advantage. Should look squarely at the non-formal financial behind the deep-seated reasons, from reduce these risks and costs begin to guide the non-formal financial normal development. Private banking operation mechanism has good internal and external risk control mechanism, macro-and microeconomic efficiency high, for financial institutions competition pattern, with the overall economy and the structure of the economy has undergone a role should not be underestimated. As for Chinese civic financial future, we are not in favor of the existing private banking in all its forms is "mandatory rapidly" into a modern financial system part should consider the establishment of a genuine focus on the endogeneity of the private financial system.Chapter seven is about Chinese farmers’financial preferences and credit arrangements--Based on the behavior characteristics of farmers a theoretical framework. It is the research on farmers of classic literature as a "rational small farmers","moral small farmers", Philip Huang’s "logic crutches", and in-depth understanding of China’s "saddle" social structure. Rural families layered structure and the trust-based relationship will help us further interpretation farmers’ financial preferences. Meanwhile, in China, a long time, the state and farmers in rural surplus limited segmentation process there is a delicate balance State subsidies system and the basic function is to maintain this balance. Interpretation of the Chinese farmers through the acts we discovered that Chinese farmers financial preferences (for financing) intriguing, mainly for the agricultural income were insufficient to cover living costs. First consider increasing the non-agricultural income. Secondly seek credit support. On the credit support, first for national subsidies, and to seek civil acquaintances credit, is the last of higher interest credit. Positive correlation analysis also validates these conclusions. Farmer "hard to borrow" the root cause is lack of trust. China’s current non-borrowing mainly to the pattern of subsidies has strong endogenous, path dependence and rationality policy to avoid using the top-down approach for its transformation.Chapter eight is about SME financing difficulties:the essence of Reading and the Solutions. The middle layer to the lack of social evolution of the system into a two focuses on structural difficulties. Confucian ethics act as a middle layer of social balance and coordination role, but make social change to the family as the core of the layered structure. This determines China’s rural non-institutional relations-trust structure. This trust structure conflicts with the establishment of trust in the system on the basis of commercial lending exclusive. Therefore commercial lending accounts for the majority of rural Chinese lack of trust. Visibility, rooted in the rural trust’s SME financial plight is essentially a credit difficulty. To rely on private capital, construction SMEs endogenous relationship lending system is break the plight of the SME financing new ideas, However, we must adhere to independence and endogenous principle, and in particular to prevent two may lead to the tendency to go astray.Chapter nine:Health within the rural-based financial regulatory main recycling:participation in the ways and means. Market Failure in the circumstances, the government’s role is indispensable:But the role of government should be conditional, which is not prejudicial to the interests of micro-finance for the main premise; meanwhile, the role of government should also be appropriate. Its scope should be limited role in maintaining the growth of the rural financial environment and the existence of market failures of policy-oriented financial field, and proceed to endogenous growth model under government supervision moderation of his views.This paper may be an important innovation in accordance with the degree of severity of light arranged mainly in the following four aspects:1. Topic innovation."Monetary growth mode" is introduced into the theory of rural financial reform areas of research and this new perspective anatomy after the founding of the rural financial reform process from the perspective of the rural financial system and recycling.2. System innovation. The transformation of the rural financial system is the basic research on the horizontal commence that the only study the supply of rural financial mainstay, and is to study how to establish and perfect a cooperative financial basis, commercial and financial policies and financial cooperation division of the rural financial service system and the related guarantees, and insurance organizations. Few are involved in the micro-finance rural economic organizations, so that the rural financial demands main (farmers and rural small and medium enterprises) and rural financial macro-control subjects of analysis and remodeling. The rural financial system is divided into demand, supply and supervision of three levels, namely:rural micro-economic organization and its structure (the demand side), and the rural financial organization and structure (the supply side), government or institutions such as the Central Bank of rural financial supervision and regulation (coordinator). So within the rural health-based financial system includes the construction of rural financial needs of the main preference interpretation, the main supply of rural financial reform, and financial supervision main recycling.3. Perspective (theoretical support) Innovation:the current rural financial allocation classic study of the new institutional economics tools, cost information theory has given us different depth investigation camp and the whole. But this approach if it is separated from China’s rural social and cultural structure of explanation were not yet adequate. We send our social structure, and established the historical evolution and the social and cultural perspective, grasp the overall structure of the rural financial system. We fully from the school system, information costs on the basis of theory, from the rural community Guitar credit structure with the particularity of the rural financial system to explore arrangements for the economic base.4. New Ideas:"Reform" is more realism and urgent than "Liberation". Rural financial predicament is a realistic way to relax the government’s monopoly on the financial, rather than suppressing standardizes existing informal finance. The government should not overrun for the financial needs of rural main supply choose the specific financial forms, o two of the reform of rural credit cooperatives is "irreversible." After experiencing a "cooperation escalation" that the banks, the existing rural credit cooperatives can not be converted back to financial cooperation, but follow the direction of reform of rural credit cooperatives financial or commercial financial policy. Financial cooperation in China’s rural areas still has a practical basis, but its growth is a new development mode instead of the existing financial institutions reforms. Non-financial realities solution is the legalization of standardization instead of rushing to upgrade or banks of. o four government-led planning of small and medium sized banks is modified or new will not solve the fundamental financing difficulties for SMEs that suitable for the SME funding needs to be the main supply endogenous Keywords rural financial system, recycling, long into the rural financial, led by exogenous and endogenous-oriented... |
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