Micro-foundation Research On Efficiency Improvement Of Rural Microfinance

The thesis employs research method of vector regression, the Grainger cause test and the forecast variance decomposes and qualitative analysis with quantitative analysis, empirically examines the relationship between rural microfinance efficiency and peasant household income growth, analyzes current status efficiency of Chinese rural microfinance and causes of low efficiency and consequence of low efficiency leading to peasant household financial restraining. The microfinance efficiency improving influencing to peasant household income growing is through capital accumulating and rural manpower developing and industrial structure changing and state fiscal supporting agriculture. The government's dominance and exorbitant control of the rural financial system leading to Rural Credit Cooperatives monopolizing is the fundamental cause of Chinese rural microfinance market lacking efficiency. It puts forward micro- foundation innovating via of Chinese rural microfinance efficiency improvement.This thesis establishes index system evaluating Chinese rural microfinance efficiency. The macro-efficiency of rural microfinance consistes affecting efficiency of microfinance run influencing to rural economic growth and the efficiency of government supervising rural microfinance market. The micro-efficiency of rural microfinance consistes rural financial organization efficiency, rural microfinance market efficiency and fund running efficiency. Analyzing indicates Chinese rural microfinance efficiency low in adopting index system, and the expression of low efficiency is peasant household fund demanding cannot be satisfied. It empirical analyzes the extent of credit constraints of rural household as well as its income loss, and the expenditure of education and medical treatment so on have statistically significant impact on money demand.With the game theory, this thesis establishes four game models of incomplete information about central government and local government, rural financial organization and local government, financial organization and peasant household, peasant household and local government, and analyzes efficiency improving via of rural microfinance. It analyzes that innovating organization form of rural microfinance fund supplying subject can improve rural microfinance fund supplying efficiency and innovating circulating funds model of rural microfinance fund demanding subject can improve rural microfinance fund using efficiency. In order to establishing a comparative rural micro-financial market and improving rural microfinance efficiency, we should transform Rural Credit Cooperatives into commercial finance organization, and develop village bank and cultivate rural microfinance organization and cultivate rural cooperative finance organization , and encourage and support Agricultural Development Bank to expand rural policy monetary.The thesis analyzes establishing fiscal guarantee mechanism of rural social public facilities and developing agriculture industrializing can improve efficiency of peasant household using micro-financial fund and strengthen capability of peasant household in financial market. In order to improve efficiency of rural microfinance, the government should enlarge fiscal investment of rural social public facilities and support establishing agriculture insurance. It also employs the social capital theory to make an institutional innovation and to expound the inner working mechanism of social credit cooperative organization, and analyzes some different kinds of social credit resources, and puts forward selective basis of establishing social credit cooperative organization.