The Innovational Study On Property Rights Of Rural Credit Cooperatives In Zhejiang Province Based On The Cooperative Behavior Of Peasants In Finance

China's rural areas basically formed a rural financial system of commercial finance,policy finance and cooperative financial teamwork After years of reform and development. But, as the commercial banks'business (Agricultural Bank's in particular) had get out from the rural areas, the only one now Supporting the rural areas is Rural Credit Cooperative (RCC). But, the accomplishment of RCCs is not well, and in some areas the RCCs'non-performing loans remain high. They can not meet the diversified and multi-level needs in the development of rural finance at all. The rural financial system now has become a financial "bottleneck" to the additionally receiving of farmers, the development of agricultural economic and the progress of rural social. To resolve the restriction of" three dimensional rural issues(Problems about Agriculture,Ruralareas and Peasantry)" to economic development in rural areas of Zhejiang Province and all the country, the reform of rural financial system is imperative. The difficulty is how to advance the reform of property rights of RCCs. And then, we can establish a clearing property rights with a good inner governance structure.However, the government had neglected the cooperative behavior of peasants in finance and then excluded the peasants being concerned with the reformation, which had always been a serious shortage in our theory and practice. In fact, the cooperative behavior of peasants in finance has been taken as an exogenous variable, and the behavior is the base of rural credit cooperatives and a key endogenous variables on which the success of rural credit cooperatives depend. So, the article will make a study to the reform of property rights which focus on the behavior of peasants in finance. Firstly, through the existing theoretical results, we will get the key variables which have a important impaction to the cooperative behavior of peasants in finance. Secondly, we will make a further study which based on a discussion of the mechanism of interaction between the variables in order to improve and expand the theoretical basis of property rights reform. So, the government can make a more accurate assessment to the theoretical basis, reality basis and the reform accomplishment. Then we can develop the policy and thoughts for the next reform and make sure that its purpose is clear; its Path and implementation is effective.First, the article will make a review which based on the view of the Cooperative behavior of Peasants in Finance: certainly this reform has some performance, but so many problems are still exist——the most important one is that so many peasants are still marginalized and although they buy shares, their rights can not be protected so well. So the enthusiasm into the cooperative of the peasants will be damaged seriously.The next step, we use the Empirical research datas, together with 3 Objective variables and 2 Subjective variables (Objective variables: Whether the peasants have obtained loans from RCCs(b);income level(i); Whether the peasants can provide effective securities(g). Subjective variables: Identity from peasants to RCCs(s); the cooperative desire of peasants in finance(c)) to establish three mathematical models——Hierarchical Model, General Model, Logit Model for our empirical Study. Then, we use the utility function and new institutional economics for our further Research in the range of all the country. Then, we reach the conclusion as below: (1) in Zhejiang province, most of peasants have the will to brown the funds. And it is easier for high incoming peasants to obtain loans, their identity is weaker because of lower utility of the same quantity loans. (2)Most peasants in Zhejiang province have no idea about property rights and buy stocks .While the one know the knowledge relatively have no interesting about Cooperative system.(3)Because of peasants'negative expectation in a long time they don't care about any affairs about RCCs. Although this investigation shows that most peasants have high identity to the RCCs in Zhejiang province, but this"identity"is"Pseudo identity"——it's a very important reason why the peasants have no will to buy stocks and get into the cooperation. (4) Because the reform is a imposed institutional change which excluded the peasants being concerned with. So, RCCs itself also have the negative expectation to the reform. So, the reform eventually deviate the original intention to support the Agriculture, Ruralareas and Peasantry; and the negative expectation of peasants aggressive intensifies it at the same time .(5)Now, the joint-stock cooperative system which Zhejiang province had chosen in the reform is the most appropriate model. And as long as we can improve the peasants'financial cooperation initiative, the RCCs'performance will be further improved.In conclusion, this article puts forward some policies and suggestions from the Theoretical and empirical study to the RCCs of Zhejiang Province: firstly, the most important one is transforming the ideas of the reform and taking more attention about finance cooperation behavior research of peasants. Secondly, Optimizing the reform mentality and deepening the reform of the property rights of RCCs Which based on the cooperative behavior of peasants in finance. Third, we should to underline the key of the reform in order to realize property rights system's reforming and the service promotion of RCCs suited to the local conditions. And the last one is, we also should to put much emphasis to the systematic of the reform and providing the necessary conditions to the property rights of RCCs'further perfection.