Theoretical Research And Emperical Analysis Of China's Consumer Credit Development

Since 1998, China's Consumer Price Index has been decreasing for several years, and deficiency of effective demand has been the restricting factor of China's economic development. How to stimulate personal consumption and increase effective demand becomes an important topic discussed by the public. Consumer credit can increase effective demand and enlarge social output, therefore, it becomes an important influencing factor of economic growth.First, this dissertation gives a conclusion of the present research on consumer credit home and abroad. Based on restatement of consumer credit concept, this dissertation complements the theory foundation from two aspects. One aspect is about the macroeconomic motives. This dissertation puts forward the multiplicative role of consumer credit to social output, that is MI and MII, to explain the mechanism of consumer credit to consumption demand and economic growth. The other aspect is about the microeconomic motives. Founded on the modem consumption function, this dissertation discusses consumer credit as the rational behavior to overcome fluency constraint.Second, this dissertation restates several conceptions relative to consumer credit. Based on these conceptions, this dissertation sets up a simplified supply-demand model for consumer credit and extends it from rate policy and transaction cost. Then, this dissertation gives a general supply-demand analyzing framework for consumer credit development.Third, this dissertation studies on capital demand and supply of consumer credit.In capital demand research, in accordance of the present condition of China's consumer credit, this dissertation analyzes the main influencing factors of consumer credit development and proves that the present demand of consumer is just decided by the characters of above factors. Therefore, to improve the speed and level of China's consumer credit, we should overcome these main constraining factors.In capital supply research, by the comparison between China and U.S., this dissertation points out the suppliers' factor of China's consumer credit development; then, this dissertation analyzes the systematic risk of consumer credit influencing transaction cost of capital suppliers, shows its reasons and types, and sets up preventing mechanism against it; based on micro-environment about consumer credit business, this dissertation discusses the operation mechanism including procedure innovating, marketing service and techniques use.Last, in view of maximizing total reward of capital suppliers and improving...