Research On Development Paths Of Cooperative Finance

Cooperative finance has existed for more than 100 years in the world and has been an indispensable portion in financial system. The increase in size and numbers suggests the significance of cooperative finance, its functions, and its unique characteristic that makes them different from both banks and thrifts, that is, keeping the customer-oriented business model. Cooperative financial system and institutions have experienced different historical development phases, with various development paths and various characteristics. In recent decades, cooperative financial institutions dissimilation cases occurred frequently, which caused great concern. What characteristics of different development paths, how many typical paths in reality, where the future development path, are worth studying.Although our cooperative finance system is not very huge, the organizations are complicated, including urban and rural credit cooperative system in course of reforming, all kinds of mutual financing societies, and new-styled cooperative banks and capital cooperative societies, all in the way of exploring forward. Recently many economists and practitioners insist to construct"ternary structure"rural financial system. And cooperative finance plays an important role in many countries of the world. Cooperative financial institutions contribute to the competitiveness, supplement and stability of the banking industry,so it's vital to develop cooperative finance in China for rural economy and rural financial deepening and"dual economic structure"transition. The research on cooperative finance's development direction and development path has so much realistic significance.Therefore, on the basis of basic concepts and literature review, this dissertation summarizes existing development paths, and carries on comparative analysis, in order to seek some regular rules of development paths choice. And accordingly, exploring development paths, then the dissertation's final aim is to put forward some proposals on the reform direction of China's credit union system in the future and the development path of nongovernmental cooperative financial institutions. In this thesis, some hot issues on cooperative finance will be involved, such as organization reform, system dissimilation, and scale effect. It is divided into six parts.Part I is literature review and reality inspection on cooperative finance. First combs through the related literatures on cooperative finance's function and development paths of organization and system, afterward analyzes the cooperative finance's common function and particular financial function, finally from historic course's angle analyzes cooperative finance's evolution path, and introduce its present situation and characteristics.Part II is about the theoretical basis of cooperative finance and its paths transition, especially including the economics explanations about normal and abnormal development trends. This chapter includes economics explanations on cooperative finance, the theoretical reasons on cooperative Institutional Change and dissimilation trend, and explanations on the institutions'path transition with its inherent conflicts in its corporate governance.Part III and Part IV enumerate and analyze cooperative finance's development paths, from two angles: macro-analysis is from the perspective of cooperative financial system to analyze its sustainable development paths, with some typical countries cases as strong arguments; micro-analysis is from the perspective of cooperative financial institutions to discuss their development paths, and takes the actual organizations as examples, analyzes various paths'characteristics and efficiency, and compares them comprehensively.Part V, on the basis of the previous two sections, analyzes factors affecting development paths, then concludes its evolution laws, and infers the cooperative finance's development path in the future. This dissertation concludes that the development paths would be more multiple and cooperative principles would be better to combine with commercial model in the future.Part VI carries on the analysis on our cooperative finance's development paths and put forth the policy proposal. This section firstly introduces historical and present development paths of our cooperative finance, and discusses problems about it. This dissertation suggests to construct our cooperative financial system with composite path and to develop coopertative institutions with diversified paths. The rural credit cooperatives and nongovernment mutual financial organizations should take different paths in order to improve efficiency and meet endogenous requirement.Since the appearance of cooperative institution, the researches on it have accumulated a lot by foreign and domestic scholars. But this dissertation chooses development path of cooperative finance as an innovation of contents. And to carry out both macro-analysis and micro-analysis on cooperative finance's development path is a new angle. How to choose the future development path of cooperative finance has puzzled economists and practitioners extremely. The theoretical study on it has not been formed a complete system, and remains to be discussed and researched deeply. This thesis, taking development path of cooperative finance as the mainline, summaries and analyzes developing process of cooperative finance, and also works out the regularity in it, and proposes boldly the future development path, with considerable theoretical and practical significance.