The Efficiency Change Of Rural Credit Cooperatives During The Reform And Its Influence Factors

Since the new century,pace of the system reform and innovation centering on rural finance's support to agriculture,famer and rural area has been faster and faster.The Rural Credit Cooperative(RCC)reform beginning in 2000 made a start on the commercialize transition of RCCs in China.The reform involved aspects of organizational system,property relations,management structure,historical burden and so on.This reform had far-reaching influence on the management development of RCCs.Using SBM-Undesirable model and two-stage analytical method,this paper measures the efficiency of 49 RCCs in Jiangsu province during the RCC reform(2000-2013),and analyzed the influence factors.In order to analyze the rate of change of productivity,evaluate the effect of the RCC reform and put forward feasible policy suggestions,this paper builds Malmquist-Luenberger index model on the base of SBM model to measure the TFP of RCCs and analyzed the influence factors on accumulated TFP.The results show that the new round RCC reform has an outstanding promotion effect on the efficiency improvement and productivity growth.But the way and strength of influence are different in various areas and different periods.Therefore,in the further deepen period of the reform,measures such as property relation reform and scale expansion should be adjusted according to local conditions.Reform modes should be chosen carefully in different economic development level areas and along with improvement of management ability and technological level of RCCs.The specific research contents are as follows:Firstly,as the basis of empirical analysis,this paper presents every stage of RCC development and reform in China,summarizes major measures and running state of the new round RCC reform in Jiangsu province.Secondly,based on DEA model and its defect,this paper brings non-performing loan into efficiency measure and builds SBM-Undesirable model for RCC efficiency measure.Using SBM-Undesirable model,this paper measures the efficiency of RCCs in Jiangsu province.And in order to analyze the specific reason of efficiency change,this paper investigates the influence factors with panel data regression model.Thirdly,considering of the defect of traditional Malmquist index model and based on SBM directional distance function,this pare brings non-performing loan into TFP measure and builds Malmquist-Luenberger index model for RCC TFP measure.Using Malmquist-Luenberger index model,this paper measures the TFP of RCCs in Jiangsu province.And in order to analyze the specific reason of efficiency growth rate change,this paper investigates the influence factors on accumulated TFP with panel data regression model.Fourthly,based on the results of empirical analysis,this paper summarizes the effect and experience of new round RCC reform during the past 13 years.And it provides reasonable policy suggestions for the RCC reform's further deepen.