Endowment Difference、Allocation Effect And Mechanism Innovation

Market failure of rural finance is found because of the deficiency of farmers endowment and high risk of agriculture. In this paper, performance and gap of rural financial in China are studied systematically, adopting survey data and statistical data, creating and applying some econometric models, according to the research route of endowment difference,financial performance, mechanism incentive.The dissertation goes as follows:following two chapters in introduction to the research, literature review on its theoretical bases, respectively, the third paper examines the relationships of household endowments、financial knowledge and financing will by MNL model.The reasons for difference of rural financial resource distribution are focused on in the fourth chapter,by applying spatial econometric model. In the fifth chapter, the paper discusses dual credit constraints which are due to credit supply rationing and demand depression. In the sixth chapter, the gap between supply and demand of rural financial is discussed. In the sevevnth chapter, the paper discusses how the factors affect loan for farmer by Heckman model;and the household welfare in the case of dual credit constraints is evaluated by ERSM model. In the eighth chapter, the main variables which lead to enhance the farmers’ income are discussed, the regional difference of the efficiency of rural finance is evaluated as well. The theoretical research on incentive model、signal model and the financial linkage is carried out, respectively, in the ninth、tenth and eleventh chapter.In the twelfth chapter, the dissertation offers several policy recommendations based on the above research,which would contribute to alleviate the market failure and promote inclusion of rural financial in China.