| The individual credit has already developed maturely in western countries especially in the USA, but has just started in China. In recent years, domestic authorities and practical department have realized the importance of the individual credit in bringing about an advance in economy. They research the correlating questions and propose setting up the individual credit institution of China actively. The individual credit institution has undergone preliminary development in our country, but unsatisfactory according to practical result. The author notices, the domestic individual credit institution is confined to a few individual credit intermediaries. The relevant system is not set up and implemented. According to individual credit institution practice of foreign countries, these intermediaries are only a part in individual credit institution. Arthur launches the discussion of this dissertation from the following issues mainly:1.What is the nature of individual credit? Why is it necessary to set up individual credit institution?2.What are the composition and function of the individual credit institution?3. Why not set up more perfect individual credit institution in China?Analyses on these above questions help us to understand the individual credit institution, thus guiding the improvement of the individual credit institution of our country.The main train of thoughts of this thesis are as following:Firstly, analyze two pieces of nature of individual credit: resource and externalities. The resource of individual credit determines that it is necessary to develop the individual credit at the present stage. But the externalities of individual credit determine that the market is unable to dispose the individual credit resources effectively. Secondly, analyze the composition and function of the individual credit institution. Finally, analyze individual credit institution of China and put forward the corresponding suggestions about it. Following the train of thoughts of the above, this thesis is divided into three chapters. Main content of every chapter is as following:The author analyzes two pieces of nature of individual credit in chapter 1:resource and externalities. The concept of economic resource traditionally has been all confined to the land, capital and worker. However, the experience of the modern economic growth shows that the contributions of workforce and material capital to the economic growth are declining constantly. Some practices of advanced country's economic growth have already shown that dynamic accumulation resources including organization system, financial system and knowledge resource have already replaced traditional key element resources, becoming the first motive force of modern economic development. We can divide economic resources into six categories: natural resources, human resources, material resources, organization system resources, knowledge resources and financial resources. In these six kinds of main economic resources, organization system resource, knowledge resource and financial resource are new resource factors. Credit resources of modern economy serve as the accumulation lever of three new resources. The externalities of individual credit mean those who lack credit are not always ruled out of the games. When most people lack credit or offer credit unwillingly, a few people will only incur loss to offer credit unilaterally. The personal cost without credit is far lower than the social cost. On the contrary, if most people keep at offering credit, a few people who lack credit will receive very severe punishment.In Chapter 2, the author discusses the composition and function of the individual credit institution mainly. The individual credit institution is composed of three parts: the informal constrains, the formal constrains and the performing mechanism which is approved by the society. The functions of the individual credit institution are mainly to reduce trade expenses, promote the economic growth, offer the incentive mechanism and suppress people's... |
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