| From 2003 seven continuous No 1 central document of China place problems about Farmers, Rural Areas and Agriculture Production (hereinafter rural economy) at primary position. And China Rural Credit Coperative (hereinafter RCC) occupies pioneer role of rural economy support for its mainforces status in rural finance systems.While RCC itself has serious problems as enormous bad loan, unclear property rights,inadequate corporate governance structure and so on, how to solve these problems is a hot and difficult issue. Around this issue, Scholars have done a lot of research on reform and development RCC, and has gotten certain useful results. But existed researches are still insufficient:research more on representation and less on deep cause, especially limited to RCC only, research based on institution change and several principles (State, RCC, and Farmer) for comprehensive analysis on RCC is few and far between.Research in this paper is directed by institution change theory in New Institutional Economic, China RCC institution efficiency is empirical analyzed. Then the necessarity of RCC institution path dependence is analyzed from these three angles. Lastly according to China current economy surroundings, the adaptability of cooperative finance institution and RCC reform direction are discussed. Core research content and conclusion as follows:(1). Empiral analysis on RCC institution efficiency:in Chapter 3, six mainstream institution efficiency evaluation methods firstly discussed, then the idea as value direction for institution efficiency evaluation is proposed, for RCC institution, farmer’s welfare is regarded as efficiency evaluation; furtherly, three index are compared and consumption is selected as the best index for farmer’s welfare evaluation. Lastly, based on VAR model dynamic influence of RCC loan to farmer’s welfare is empirically analyzed, the conclusion is that the loan improve farmer’s welfare, and this indirectly provef that the institution is efficient.(2) Analysis of Path dependence of RCC institution change:in Chapter 4, analysis of path dependence of RCC institution change is from three angles:firsly from state angle through model analysis and data proof, it is testified that state has gotten great allocation rent and is the greatest for the institution,and state vested interest group hypothsis is proposed; secondly, from RCC organization’s angle, through a model analysis it is testified that the organization has become self-strengthened in path dependence for its rural-economy-support monopoly status; thirdly, from farmer’s angle, in the earlier phrase, the farmer secede from RCC has seceding cost, and later phrase is controlled by RCC for its monoly status. In summary, from the above three angles pathe dependence of RCC institution change is evitable.(3) Dissimilation analysis of RCC institution change:in Chapter 5, firstly the institution dissimilation surrounding as rural economy institution change is analyzed; secondly the history of RCC institution change is reviewed, and state-control is the basic reason of RCC institution change dissimilation; lastly, from the "three-seperation method" of institution, the dissimilation results are fully analyzed. The conclusion of this chaperter is:state has abandoned the standard rural cooperative finance institution, farmers resist this institution and RCC deviate from this institution. So standard cooperative finance institution is not suitable for RCC.(4) Adaptability efficiency of rural cooperative finance institution:in Chapter 6, firstly international main rural cooperative modes are analyzed; secondly the adaptabiliy efficiency of these modes are analyzed; lastly, the adaptability efficiency of rural cooperative fianance for China is analyzed. The conclusion is:in current China economy surroundings, standard rural cooperative fianance institution is not suitable. RCC reform should obey adaptability efficiency principles to adapt curren economy surroundings, but for the reform is controlled by state, the reform prospect is not optimistic.In summary, reform for China RCC institution change has gotten some improvement, but for the RCC reform should breakthrough institution change path dependence, adapt current surroundings change and correct understanding for the reform path by reformer, so it has a long distance for reform succssful... |
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