Path Selection For The Rural Cooperative Finance In China

At present, with the strait rural finance coverage, the serious rural capital outflow, andthe imperfect relative supportive policy and ancillary facilities, especially the poignantloaning problems of the agricultures, farmers and rural areas, the exploratory development ofthe Chinese rural cooperation finance transformation and development becomes necessary.As one of the main fund source of the rural economic development, the cooperative financehas had a history of more than150years in the foreign countries and has gained greatachievements. France, America, Japan and Germany are the model development countries ofrural cooperative finance, and all of them have formed their own development path anddevelopment pattern.With90years development from its appearance in1923in China, and under thebackground of economic structure transformation and institutional transition, the Chineserural cooperative finance has formed its present system, with the coexistence of multiplefinancial organs. However, there still exist some problems on the Chinese rural cooperativefinance, such as the unclear property right of the rural credit cooperatives, the defectivenessof the relative laws and regulations as well as the lack of effective supervision and guidancemechanism for the folk financial development. How to develop the Chinese rural cooperativefinance and which development path we should choose are the main problems needresearching.Through the researches on the status quo and existing problems of Chinese ruralcooperative finance, this paper analyzes the development history and development directionof Chinese rural cooperative finance based on the path of development theory in theinstitutional economics. According to the general patterns of rural cooperative finance pathsin the foreign countries, this paper summarizes the development experience can be taken asreference in developing the Chinese rural cooperative finance to explore an appropriatetransformation and development path for the Chinese rural cooperative finance, andinvestigates the transformation direction and development pattern of the Chinese ruralcooperative financial organs. In this paper, part one analyzes the history and status quo of the Chinese ruralcooperative finance and describes the existing problems of the Chinese rural cooperativefinance from the aspects of Chinese normal cooperative finance and rural folk cooperativefinance. Part two introduces the development of rural cooperative finance in Germany,America, France, Japan and India, distinguishing them into three types from the aspect ofdevelopment path, in which the development path in Germany and America belongs to theendogenous derivative path and the development path in France and Japan belongs to theexogenous change path, while the development path in India is the mixed path. It shows thatalthough the five countries have different development paths, they have something incommon, and China can take reference to their experience in developing the rural cooperativefinance. Part three indicates that the Chinese rural cooperative finance development canemploy the mixed path after analyzing from the theoretic and pratical aspects and putsforward the development prospect and countermeasures of Chinese rural cooperative finance.