The Research On Rural Informal Financial Organization In Institutional Economy

With the putting forward of reconstruction rural financial service system stratagem, rural informal financial organization become new theory problem and un-solving difficulty in financial institution reform. Nowadays, rural financial system was not in equilibrium of institution arrangement, and the contradiction of financial resource's supply and demand mismatch was outstanding. Therefore, financial institution innovations become key factor in reconstruction rural financial service system.Different from traditional research on informal finance, the writer put eyes on informal finance organizations which were sweeping and in gray zone. Without doubt, the appearance of rural informal financial organization was important financial innovations. It not only provided precious capital to rural economy, but also new pressure and thinking for the development of non-government economy and the innovation of commercial banks. In the frame of institution economics theories, such as transaction cost, property right institution and institutional supply and demand, the writer expounded the reason of informal financial organization's appearance from institutional supply and demand, which indicated that the appearance was the result of cost-income gamble in existent condition of financial institution. After reviewing institutional cause of formation, the article expounded informal financial organization's superiority and inferior position from property right institutional perspectives. Finally, countering on problems in the development of informal finance organization, the article oriented the development of rural informal financial organization and proposed countering and practical suggestions on the foundation of foreign experiences developing informal finance.