The Study on Endogenous Mechanism of Farmer Mutual Funds
|Keywords||Capital mutual aid organizations of farmers Endogenous mechanisms Institutional Analysis Multiple Games|
The financial problems in rural areas is an important aspect of China's three rural problems. The development of the rural economy is troubled by a shortage of funds for a long time. Existing commercial financial institutions, subject to information asymmetry, market segmentation, the rural market is decentralized, micro-technology as well as farmers lack collateral, rural funds invested less. Even with government departments to provide policy-based loans, the supply of funds is still far failed to meet the needs of farmers. The main channel for financing by the farmers are still friends and family borrowing and private lending. Relatives and friends borrowing and private lending instability, and often lead to some contradictions. The emergence of farmers' self-help groups of funds has become the experiments to explore solutions to the plight of rural finance. First created by non-farmers funds mutual aid organizations internal system is reasonable and has been carried out in many parts of the pilot. Some pilot has achieved good social and economic benefits, even the rural financial market has to a certain extent already broken link up. Development of farmers' self-help groups of funds not only by the concern of farmers, government departments, non-governmental organizations, and academia also be commenced pilot and research work. In academia, most of the existing research focused on the system of mutual aid organization of farmers' funds economics analysis or case studies, literature from the micro perspective of mutual funds organizations endogenous mechanisms less. Paper questionnaires and on-site interviews, select Anhui province typical rural capital mutual aid organizations combined cases and literature, from the perspective of macro-and micro farmers funds mutual aid organizations endogenous mechanism theory analysis and empirical research. The full text is divided into six parts in total. The first part of the account of the research background and the object of the article, the study methods and ideas, as well as the framework of the paper. The second part reviews the research at home and abroad, and summarizes the characteristics of the existing research and inadequacies. The third section describes the status of the development of the theory of endogenous mechanisms and agricultural funds mutual aid organizations. The fourth part of the organization's main farmers 'mutual funds - farmers' behavioral preferences inspection. The fifth part of the focus of the article, from the choice of system, game analysis point of view of farmers mutual funds organizations endogenous mechanism. Part VI concludes the paper gives the conclusions, and the lack of part of the article discusses the process described. Endogenous mechanisms of farmers' self-help groups of funds includes many aspects, such as generating mechanisms, mechanisms of participation, competition mechanism. The article mainly analyze the generation mechanism involved in the mechanism and operation mechanism. The text is divided into macro and micro perspective, macro institutional economics theory, the article analyzes the generation mechanism of the self-help groups of farmers 'funds;, based on cognitive psychology and experience in micro, articles build farmers' mutual funds endogenous mechanisms of the organization model, respectively, from the point of view of the core members and ordinary members analyze the endogenous mechanisms of farmers' self-help groups of funds, the participation mechanism as well as the governance structure both games changes. The main conclusions of the article (1) at this stage, the behavior of our small farmers preferences do not meet the assumptions of rational smallholder \a system of inherent reasonableness, is supply and rural financial system needs of the rural financial system are incompatible resulting institutional change power results; (3) farmers' self-help groups of funds endogenous process is a multi-game process, the core members and the role and influence of the ordinary members of the different between the core members and ordinary members of a mutual game, the result of the game between the two sides is the organization's governance structure of mutual funds or operational performance. The organization's governance structure of mutual funds is based on the ability of farmers (knowledge) and the result of the relationship (identity). Finally, determine the choice of measurement method, discusses the process variable study the contents of the severity of make described, and pointed out that there's inadequacies.