Study On Implementation Of The Microfinance Policy For Poverty Alleviation In Lushi County Of Henan Province From The Perspective Of Smith Model

As a financial tool,microfinance is one of the important means to solve the development of low-and middle-income groups in rural underdeveloped areas and promote the construction of a comprehensive well-off society.Although China's rural financial market has made many positive developments in recent years,the problem of microfinance poverty alleviation in rural poverty-stricken areas has not yet found a good solution.Under the situation of precise poverty alleviation in the new era,Lushi County,as one of the four deep poverty-stricken counties with a poverty incidence rate of more than 10% in Henan Province,urgently needs to use the microfinance tool to help the poor.After research and research,Lushi County has formulated a series of policies to support the development of rural microfinance in 2017 in response to the prominent characteristics of microfinance in the county,such as high cost,high risk,poor credit,less institutions,and weak demand.,promoted and implemented in the county.The premise of good policy implementation is to formulate and introduce scientific and reasonable policies,but the next more important and crucial is the process of policy implementation.Therefore,the author focuses on the implementation of the micro-credit poverty alleviation policy in Lushi County,using Smith's policy implementation process model theory,poverty governance theory,principal-agent theory,comprehensive use of literature data method,questionnaire and in-depth interview,etc.Research was carried out on the policy itself,the status of policy implementers,the policy target groups,and the policy implementation environment.In general,the implementation of the microfinance poverty alleviation policy has achieved great results in the past two years.At the micro level,a large number of poor farmers who are prevented from outside the commercial loan gates have obtained unsecured low-cost loans,which can be put into production to increase their income.From a macro perspective,the initial establishment of the rural financial service system in Lushi County and the strengthening of the characteristic agricultural industry have directly accelerated the realization of the poverty alleviation goal of the county.At the same time,however,there are still problems such as the policy can not meet the needs of poor farmers,the phenomenon of“decay”in policy transmission,the low satisfaction of target groups on executive execution,and the poor coordination between government agencies and financial institutions.The reasons behind this are mainly due to the lack of rationality in the formulation of microfinance poverty alleviation policies,the low capacity of policy implementation organizations,the lack of endogenous motivation of target groups,and the poor implementation of policies.In order to resolve the impact of various problems in microfinance poverty alleviation and better promote the implementation of microfinance poverty alleviation policies,it is recommended to improve the implementation of policies from the following four aspects:strengthen scientific guidance to improve the quality of policies,improve the ability of executives of policy implementation,stimulate the endogenous motivation of self-development of target groups and optimize the implementation environment for microfinance poverty alleviation policies.Through the author's in-depth research,in order to theoretically promote the Smith's policy implementation process model theory,poverty governance theory,principal-agent theory and other theoretical knowledge combined with micro-credit poverty alleviation practice,enrich the research results in related fields;further promote Lushi County in practice Microfinance Poverty Alleviation Helps the rural poor to achieve poverty-free and better goals,explores and establishes a complete microfinance poverty alleviation policy system that meets the requirements of top-level design and is suitable for Lushi County,and promotes microfinance poverty alleviation in other poverty-stricken areas.The implementation and practice provide some references.