Research On Poverty Alleviation Incentive Of Micro-finance Institutions In Post-targeted Poverty Alleviation Era

China has officially entered a "post-targeted poverty alleviation era" as the tough battle against poverty has been declared a comprehensive victory and the problem of absolute poverty has been solved.Through the implementation of targeted poverty alleviation strategy,micro-credit institutions represented by micro-loan companies,rural commercial banks and rural credit cooperatives have played an irreplaceable positive role in the process of poverty alleviation in China.In the "post-targeted poverty alleviation era",it is an important measure to continue to implement the policy of targeted poverty alleviation to prevent the return of poor households to poverty.In this context,it is of great indispensable to study the incentive mechanism and incentive effect of the policy for micro-finance institutions to continue poverty alleviation,and to solidify the gains of poverty alleviation and build a long-term system to prevent poverty return.Based on the "post-targeted poverty alleviation era",and on the basis of affirmation of related concepts,relying on principal-agent theory,information asymmetry theory,incentive compatibility theory and other basic theories,this paper focuses on the incentive mechanism of the policy for micro-finance institutions.Furthermore,the incentive effect of "poverty alleviation micro-finance" is analyzed from the two dimensions of poverty alleviation willingness and financial sustainability,that is,endogenous incentives and financial incentives,and finally the policy suggestions are proposed.The following main studies were conducted in this paper:For one thing,in the process of targeted poverty alleviation in the post-targeted poverty alleviation era,micro-finance institutions and the government is still the principal-agent relationship;the government should be institutions to stimulate.Secondly,the author empirically analyzed the willingness of micro-finance institutions to participate in targeted poverty alleviation by taking the executives of institutions as the research object and using the Oligit model.It was demonstrated that the policies effectively enhance the willingness of small credit institutions to continue to participate in targeted poverty alleviation and it promotes the behavior of microfinance institutions to provide continuous assistance to farmers in the post-targeted poverty alleviation era.Finally,the financial data of 42 micro-finance institutions in China that implement policies are sorted out and evaluates their financial sustainable development by using the AHP-FCE model.The results show that the development of micro-finance institutions in China is generally "sustainable",which is also an important factor why the poverty alleviation micro-finance policy is compatible with its incentives.Therefore,the "poverty alleviation micro-finance" policy can promote the willingness of micro-finance institutions to alleviate poverty and enhance the financial development sustainability of micro-finance institutions.It is demonstrates that the effectiveness of the poverty alleviation incentive mechanism of micro-finance institutions can be brought into play in the rural revitalization through the implementation of policy diversification and integrated operation strategies,in this way,it can effectively restraint the return to poverty and create a long-term mechanism to solve relative poverty,and smoothly transition from "precision poverty alleviation" to "rural revitalization".