| It is of vital significance to finish building a moderately prosperous society in all respects,eliminate the income disparity between urban and rural regions and ensure social stability by means of alleviating the issue of poverty.Financial poverty alleviation is an effective policy for poverty alleviation,but the issues of "Siphon Phenomenon" of credit funds,the restrictions of rural finance and the inefficiency of rural financial poverty alleviation may result in the loss of resources of financial poverty alleviation,especially for poor regions,which lowers the efficiency of financial poverty alleviation.Therefore,it is urgent to eliminate the negative impact of financial suppression on poverty alleviation and improve the efficiency of financial poverty alleviation.It is beneficial to facilitate the function of rural financial poverty alleviation by researching the efficiency of rural financial poverty alleviation and its impact factors.Based on the previous literatures and the analytical framework of multi-task principal-agent theory on the efficiency of rural financial poverty alleviation,the software of Stata,R,Geoda,and Deap is utilized so as to conduct an empirical research on the efficiency,as well as its impact factors via the approaches of the space effects and the threshold effects.The structure of this paper is as follows:The first section as chapter 2 and 3 is the basis of the research,which researches the current situation and efficiency of poverty alleviation of rural finance.In chapter 2,the entropy-TOPSIS method and spatial analysis method is used to reflect the poverty situation and spatial relations in rural regions in China multi-dimensionally;additionally,from a new perspective,bank financial institutions,agricultural insurance and rural capital markets are adopted as the research objects to analyze the development and the spatial relations regarding rural finance in China comprehensively;furthermore,the poverty alleviation effect is explored.In chapter3,the DEA model and spatial analysis method are used to study the efficiency of rural poverty alleviation in China so as to explore the promotion avenue of the efficiency of rural financial poverty alleviation initially,which lays the foundation for later chapters with reference to the impact factors of efficiency of rural financial poverty alleviation.The second section is the theoretical study covering chapter 4,which establishes the theoretical framework of the research on efficiency of rural financial poverty alleviation.First of all,the essence of rural financial poverty alleviation is to provide credit services for the poor by financial institutions such as banks,and a principal-agent relationship.This chapter is conducted based on the theory of multi-task principal-agent by analyzing credit incentive and restraint mechanisms under the information symmetry conditions,exploring the expected revenue of banks,the effective approaches to the reduction of the cost of the poor as well as the risks concerned,locating the efficient avenue towards the promotion of the efficiency of the financial poverty alleviation.The third section is the empirical study covering chapter 5 and chapter 6,which empirically researches the impact factors of the efficiency of rural financial poverty alleviation.In chapter 5,the space econometric model is utilized with the development of mobile internet,the innovation and entrepreneurial vitality and rural financial market structure as the research object,which analyzes the spatial effect of the impact factors of the efficiency of rural financial poverty alleviation.In chapter 6,the threshold panel regression model is adopted to examine the core factors contributing to the efficiency of the rural financial poverty alleviation in different threshold intervals.The last section is the conclusion,the major conclusions of the study include:(1)The spatial pattern of poverty has not been changed,and some regions drop into regional poverty trap under the spatial effect in China,while the all-around development of rural finance can effectively relieve poverty;agriculture-related loans exert greater effects on the efficiency of rural poverty alleviation for poorer group,and rural savings have better effects on that for richer group;despite the effectiveness of rural financial poverty alleviation is supposed to be strengthened.There exist tremendous disparities of the regional development of rural credit,deposits service,agricultural insurance and rural capital market,and the low development level of rural mutual cooperative,which neutralize the efficiency of rural financial poverty alleviation.(2)The inefficiency of poverty alleviation is owing to that of the rural financial poverty alleviation;via the decomposition of efficiency,the advancement of technology is found to be the core path towards the enhancement of the efficiency of rural financial poverty alleviation;via the analysis of spatial relations,the efficiency of rural financial poverty alleviation is found to be promoted by means of the spatial spill-over effects;via the research of form distribution,the characteristics of the distribution of efficiency in various regions are found to be significantly different.(3)The development of mobile internet,the activity of innovation and entrepreneurship and the rural financial market structure have an significant effect on the efficiency of rural financial poverty alleviation,whereas the advancement of which does not invariably lead to the promotion of rural financial poverty alleviation.Only when the proportion of insurance and securities are raised,can the development of mobile communication and the advancement of the competition of agricultural insurance market promote the efficiency of rural financial poverty alleviation;when the activity of innovation achieves a certain level,the development of internet will promote the efficiency of rural financial poverty alleviation;when the development of rural financial institutions achieves a certain level,the advancement of innovation and entrepreneurship will promote the efficiency of rural financial poverty alleviation;when the development of internet achieves a certain level,the optimization of rural financial market structure will promote the efficiency of rural financial poverty alleviation;under certain level of financial support in agriculture,the development of rural financial institutions maximizes its effect on the promotion of rural financial poverty alleviation.A range of policy suggestions are consequently forwarded with reference to the outcome of the analysis of the efficiency of the rural financial poverty alleviation:(1)By enhancing the regional cooperation in rural financial poverty alleviation,the regional collaborate development of mobile internet technology should be promoted,the regional innovation and business cooperation should be advanced,and the spatial spillover effect of regional rural financial poverty alleviation should be thoroughly exploited.(2)Agricultural insurance should be promoted with all efforts,the inclusiveness of agricultural insurance should be enhanced,agricultural insurance and agricultural credits should be merged,so as to promote the establishment of agricultural insurance system and facilitate the function of risk compensation and credit addition.(3)The inclusiveness of poverty alleviation of securities should be promoted,so as to fully cover the poverty with securities,facilitate the matching of characteristic enterprises in poor regions with the capital market,and promote the function of securities in rural financial poverty alleviation.The innovations regarding the rural financial poverty alleviation are as follows:(1)The innovation of research perspective.Banks,insurance and securities are researched together for the efficiency of rural financial poverty alleviation,which more exactly exhibits the condition of the rural financial poverty alleviation compared with the research on bank credit poverty alleviation;Secondly,based on multi-task principal-agent theory,the theoretical system of the efficiency of rural financial poverty alleviation is established,taking into account all the principal parts of the rural financial poverty alleviation,which is the systematic combination of current theories concerning the efficiency of rural financial poverty alleviation.(2)By means of the spatial econometric analysis,via the investigation of the spatial spill-over effects of the effects of rural financial poverty alleviation,the spatial impact mechanism of rural financial poverty alleviation is revealed,which expands the research contents and provides beneficial proposals for the policy making of regional rural financial poverty alleviation.(3)With the aid of threshold regression model and the stage division of threshold variables,the periodical mechanism of the core impact factors to the efficiency of rural financial poverty alleviation is analyzed,indicating that the reason for the disparity between the outcome of the empirical research of spatial panel and the theoretical deduction is that there exists nonlinear relationship among variables.Via the analysis of threshold effect,the implementation plan as well as the executing intensity improving the efficiency of rural financial poverty alleviation is provided. |
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