| Poverty is the important task of developing countries facing,the worldwide problem of promoting social and economic sustainable development,the key of realizing the national people’s common prosperity,eliminating the urban-rural dual economic structure,and safeguarding national harmonious and stable development.At present,our country has entered the crucial stage of poverty alleviation.National poverty alleviation policy and pattern have changed from eliminating poverty,development-oriented poverty alleviation,participatory poverty alleviation to diversification of poverty alleviation,targeted poverty alleviation.Poverty alleviation work also reposition from "supply" to "cultivate" reposition.Under the current poverty line,to eliminate all the people living in poverty,not only need effective social security system,but also in need of enforcing a variety of poverty alleviation such as industry for poverty alleviation,ex-situ anti-poverty,poverty alleviation by sicence and technologyand and financial poverty alleviation.Among them,the financial poverty alleviation not only comply with the principle of farmer participatory poverty alleviation,but also provide financial services according to the requirements of farmers,and cultivate farmers ability of self development.In addition,the financial resource can also support and promote enforcing industry for poverty alleviation,ex-situ anti-poverty,and poverty alleviation by science and technology.However,at this stage,poor region,the defection of rural financial system and mechanism in poor areas restricts the deep combination of financial resource and production factors,inhibiting or even negative influencing the practice of financial poverty reduction effect.Therefore,discussing the effect of the rural financial development to poverty region economy and poor slow,not only provides important reference for rural financial innovation,but also beneficial to the rural financial reform and national "precise poverty alleviation,poverty alleviation program" battle continuously move on.Based on China’s poor areas of economic and financial development present situation,the thesis analyzes the rural financial development on poverty slowing effect.The research route is that "put forward problem→basic theory→the status investigation and theoretical analysis→econometric analysis →result discussion→suggestions".In combing through the related literature about the financial development and poverty alleviation at home and abroad,selecting 2742 poor households sample data from CFPS,and the rural financial development data of 435 counties in concentrated extremely poor areas from 2005 to 2013,respectively using statistical description,Probit model,system GMM model,PVAR model and the mediation effect of inspection methods,the thesis analyzes those problems that financial service and demand situation in poor areas、the relationship between the rural financial development and poverty alleviation effect of the linear or nonlinear relationship、long-run or short-run effect,the action mechanism of rural finance to poverty alleviation,and try to put forward the policy to improve the rural financial poverty alleviation mechanism.Firstly,the change of rural poverty types and poverty factors promotes povertyreduction policy change and evolution of financial poverty reduction.Food and clothing problem is no longer the focus for poverty alleviation,easing the imbalance of regional development,increasing income gap between the rich and the poor,lack of the rights and poverty sustainable is the focus of poverty alleviation mission.Financial poverty alleviation is the transformation that from simple financial services to the systematic financial poverty alleviation system,which is the process that specific form of financial:poverty alleviation constantly enriching,systematizing and deepening,which is financial poverty alleviation mechanism constantly reflecting better role in poverty alleviation and development system.At present,how to carry out the tenet of"precision" in financial poverty reduction;how to perfect the rural financial organization system;how to innovate financial services products and tools;how to guide credit funds to poor region characteristic industries and key projects.At present,how to how to make the financial poverty reduction to carry out the tenet of "precision",how to perfect the rural financial organization system,how to innovate financial services products and tools,how to guide credit funds invested to poor region characteristic industries and key projects,which are the problems to break through.Secondly,the financial development and poverty alleviation presents the "nolinear relationship",which is similarly like parabola.In the short term financial development has a significant negative impact on poverty alleviation,and it has positive influence for a long time.We can get a consistent conclusion,whether using GMM model or PVAR model analysis,using financial development scale or financial development efficiency.From GMM model analysis result shows that financial development scale and financial development efficiency coefficients are negative,and quadratic term coefficients are positive.The pulse response chart shows that financial development on poverty slowing effect is negative in the short term,then reaching peak,after it gradually tends to zero,even slightly positive.Thirdly,the economic growth and income distribution are given as intermediary variables,whether financial development scale or financial development efficiency,which the sum of the total indirect effects that financial development on poverty alleviation are negative.Relative to the indirect effect,the direct effect of financial development is more obvious.From the perspective of financial development scale,the percentage of the indirect effect to direct effect is only 41.4%.But the financial development efficiency,the ratio is 1:1.In addition,the financial development efficiency as the independent variable,the indirect effect of income distribution accounting for 27.59%of total effect,but proportion of economic growth is 22.4%.The results show that:On one side,the negative indirect effect offset some of the direct positive effect of financial development scale,even aggravate the direct negative effect of financial development efficiency,which is not conducive to the financial poverty reduction strategy implementation.Therefore,to realize effective poverty reduction of financial development,we should safeguard the benign promotion of financial development to economic growth and income distribution.On the other side,we should continue to promote financial instruments innovation and financial services range extension,expanding direct function space of the financial development for farmers to resist risks,smooth consumption,and provide convenient services.Fourthly,the amount and structure of financial supply and demand is asymmetry,which inhibits the financial poverty reduction effect playing.From the amount of supply and demand analysis,poor peasant households present that potential credit demand is high,but the actual satisfaction rate is low;the amount of capital demount is high,but the loan amount is small;reimbursement enthusiasm of farmers is high,but poverty alleviation loans not aiming at poor peasants.From the structure of supply and demand analysis,poor peasant households present that high consumer loan preference and financial institutions productive loans tendency exists dislocation.The consumer credit about building,education,weddings,and health care will form the negative spending in future,even deepening the economic poverty.Fifthly,the rural finance in poverty-stricken areas hasn’t realized ’’beneficial poverty type" development and "inclusive" service,financial institutions tend to hinder the capital flow to the poor.Econometric analysis results show that peasant household of assets condition,income,expenditure level and social capital is the important factors that affect farmer credit availability and financial service.However,they are the three aspects that it is difficult to change poor peasant households in short time.Innovating rural finance system of alleviation poverty,calling for rural finance development in poverty-stricken areas present "inclusive" and "benefiting the people",which is still the future reform direction.Sixthly,owning to the vulnerability and hysteresis of poor regions economic development,which is difficult to spontaneously lead to the proper financial market system.Information asymmetry,risk imbalances and running cost restrict financial institutions of the rural market,further cause the rural financial market monopoly and inefficient financial service level.Rural credit cooperatives as the main body of rural formal financial organization system,occupy the monopoly of rural credit market.The quantity of policy-oriented financial institutions,large commercial Banks and joint-stock Banks institutions are less,the new type of rural financial institutions appear unbalanced development situation,the folk financial in poor areas,though it has advantage of development,relational financing bias is relying on the relatives and friends.At present,how to perfect the rural financial organization system through policy mechanism,how to play the advantage of policy finance,commercial finance,cooperative finance and informal finance,that are the problems to breakthrough.Seventhly,as the transformation of economic structure,poverty alleviation means and farmer’s needs in poverty area,it calls for the reform of rural financial system and mechanism,which will drive rural financial to play role in poverty alleviation,the expansion of the positive path and space of financial poverty alleviation,to step over the financial poverty threshold.So,in view of the difficulty of poor rural poverty alleviation task,the monopoly of financial market,the diversity of farmers demand,the inefficient of financial coverage,the hysteresis of supporting policies and the risk of agricultural production,the thesis put forward the policy to improve the rural financial poverty alleviation mechanism from such aspects:building department cooperation mechanism to ensure that financial policy and poverty alleviation policy harmonious and unified;perfecting rural financial organization to play the complementary role of all kinds of financial institutions;innovating financial products and services to satisfy the diversified financial needs in poverty-stricken areas;promoting inclusive financial development to improve the rural financial service level;perfecting financial security measures to play the role of financial and fiscal policy;relying on the insurance and capital market to achieve financial poverty alleviation sustainability.In this thesis,the possible innovations lie in:(1)Breaking through the limitations of financial poverty alleviation mechanism in qualitative analysis,analyzing multiple intermediary effect by using MPLUS7.0 software,put the financial development,economic growth,income distribution and poverty alleviation under the same system,it reflects the factors of interaction between hierarchy and function mechanism,Quantitative measure of financial poverty reduction direct and indirect effects,exploring the inefficiency of financial poverty alleviation mechanism.(2)Combined with poor peasant households,financial institutions and financial three angle,with three levels of supply,demand and the overall effect,studying the effect,operation mechanism and system drawback,Put-ting forward the policy path to optimize rural financial mechanism of poverty reduction.(3)Different from the previous studies using poverty and financial development indicators to research the relationship,the research directly locates in the poor areas and poor peasant households,combined with a wide range of samples of the empirical test and field research experience in the field,empirically test the nonlinear and dynamic relationship of financial poverty alleviation.(4)Based on solow production function,interpreting the poor,middle-income and affluent population production and capital accumulation process,constructing the model of financial resources and poor restain,using GMM and PVAR method,to measure the effect of financial alleviation poverty.(5)From the change of poverty characteristics and poverty factors angel,clarify the evolution logic of strategy for poverty alleviation and financial poverty reduction policy.Combined with poor region economic structure transformation,the transformation of poverty alleviation and farmers financial demand differentiation,try to think about rural financial reform direction in poor areas. |
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