The development of microfinance and inclusive financial system research
|School||Yunnan University of Finance|
|Keywords||Microfinance DEA model Pratt \u0026 Whitney 's financial system|
This paper analyzes the small loan companies in China \. To deepen the analysis of technical efficiency is further decomposed into pure technical efficiency and scale efficiency, pure technical efficiency of small loan companies relative to the scale efficiency is relatively good. This shows that the higher management level of the sample of small loan companies, but because of the scale of the problem led to its technical efficiency. Solve the problem of the source of funding of the small loan companies, and effectively improve the operation of the small loan company the size of funds is to improve the key to the forefront of the efficiency of small loan companies. Through the establishment of the technical efficiency of small loan companies influencing factors Tobit model to arrive at the factors that affect the technical efficiency of small loan companies. The conclusions are as follows: First, the proportion of loans to farmers and small loan companies efficiency was positively correlated and affect significantly improve the proportion of loans to farmers not only help the farmers funds also help to improve the operational efficiency of small loan companies. Second, unsecured loans, small loan companies efficiency was significantly positively associated with the proportion of non-credit was a significant negative correlation. Third, small loan companies, interest rate and its efficiency weakly positively correlated, small loan companies credit loans increased risk of loans, lack of mortgage, pledge and guarantee the borrower should raise interest rates to hedge the additional risk. Therefore, an adverse impact on the profitability and viability of small loan interest rate ceilings give small loans company, thereby constraining the functioning of small loan companies. Fourth, the institutional arrangements to provide more financing channels and relaxation of the financing ratio limit, can improve the operation of the scale of capital for small loan companies, thereby increasing its allocation of resources will be conducive to the improvement of the technical efficiency of small loan companies and its functions play. Microfinance products in China has initially formed a relatively complete product chain can effectively cover the demand for various types of rural groups. However, it should be from the following two aspects of innovation to the city with the financing mechanisms of the township. On the one hand allows the other hand, encourage the development of micro-credit organizations of diverse forms of ownership; banking financial institutions in rural areas to carry out agency business. Take measures to promote the development of rural micro-credit. First, strive to foster the development of rural financial organization system; Second, speed up the microfinance product innovation in rural areas; Third, to further strengthen the risk management of microfinance; Fourth, accelerate the establishment of a scientific and reasonable risk compensation and transfer mechanisms; five earnestly strengthen the rural financial infrastructure service system. In conclusion, the article analyzed from four Pratt \u0026 Whitney demand for financial services in China, supply, market and regulatory framework, China already has the basic conditions for the development of inclusive finance. However, there are the following issues: first, the lack of depth and breadth of inclusive financial services; Second, the interest rate market is less than restricting inclusive financial services for sustainable development; Third, lack of micro-credit a combination of insurance products can not effectively avoid the risk of small loans; provide micro-credit financial services main single. Learn from foreign experience in the development of inclusive financial sectors, proposed the building of inclusive financial system from four levels of the target level, the level of service providers, the level of market development, macroeconomic regulation and policy support level.