Research On China's Rural Credit Cooperatives To Institutional Change

Since new China was founded in 1949, China's rural credit cooperatives has played an important role in the rural finance, and it also plays an indispensable role in the process of promoting the rural economy development of our country. Rural credit cooperatives has been established for more than 60 years, responded to an appeal by the state in the process of the development of our country and based on the problem of "countryside, agriculture and farmers", which has serviced the rural economy effectively and stimulate the rural economy growth. However, due to the rural credit cooperatives mainly root in rural areas, its poor quality of service and low management level, combined with the characteristics of the local government dependence is strong. So, problems emerge in endlessly in the process of reform. For example, In the process of development, rural credit cooperatives has been divorced from the nature of the cooperative system, and its property right structure is not clear, and business model is single, etc. In recent years, the central government repeatedly stressed to strengthen the overall planning of rural credit cooperatives reform, since the state council promulgated "Opinion on Accelerating the Development of the Rural Financial Reform " in 2007, "The Central File No. 1" emphasized to expand development space of rural credit cooperatives for many times. Rural credit cooperatives reform in China has made certain achievements, but after the reform of rural credit cooperatives in the construction of organization, internal coordination and management did not form their own system of form a complete set, in today's developed market economy conditions, they can?t meet people's diversified financial needs. Why the reform of rural credit cooperatives are always difficult? Or why the reform of rural credit cooperatives has not found an effective way?New institutional economists once said "the importance of history is always vital, it not only because we can learn from the past, but also the present and the future is through a social system of continuity with the past. Today and tomorrow's decision is determined by the past." As the country's support for the agricultural economy, rural credit cooperatives in China occupy the important position in the rural economic development, has been in focus on its reform path. But reviewed the development of rural credit cooperatives, from the initial adhere to the principle of cooperative system, to the present to the transformation of rural commercial bank, from the service to in-house personnel to provide financial service for different social classes, from a capital mutual aid organization development to the present financial institutions would be tantamount to bank profitability. Why do the rural credit cooperatives always walk on the path of reform?Therefore, this article focus on starting from the history of rural credit cooperatives to institutional change, on the basis construction of institutional change and financial theory framework of cooperation, based on the study of rural finance both at home and abroad, summarized all previous institutional change process and the status quo of rural credit cooperatives in our country, then evaluate structure and efficiency evaluation system of rural credit cooperatives combined with the different historical period. The characteristic content of this paper is to put on the analysis of the structure and efficiency of rural credit cooperatives in different historical background, and then import the reform cases of the rural credit cooperatives of Shandong province, summed up all previous institutional change of the rural credit cooperatives in our country although has certain social adaptability, but there are still many defects. This article think all previous institutional change of the rural credit cooperatives depends on the government?s leading role in the institutional change, and institutional change is hidden behind the central government, local government, rural credit cooperatives internal staff members and four interest?s mutual effect, and the system of rural credit cooperatives?s institutional defects. In addition, the article finally attempts to suggest appropriate rural credit cooperatives reform and development in the future for the reference of the rural credit cooperatives reform and development.