Performance Assessment And Study On Mechanism Innovation For Rural Financial Poverty Alleviation In Yunnan

In March 2016,seven organizations such as the People's Bank of China,China Securities Regulatory Commission(CSRC),China Banking Regulatory Commission(CBRC)and China Insurance Regulatory Commission(CIRC)jointly issued the Implementation Opinions on Financial Poverty Alleviation.In November,the State Council released the 13 th Five-Year Poverty Alleviation Plan which stated that to 2020,all impoverished people would get out of poverty and also clearly stressed that we must continue implementing financial poverty alleviation strategies.It has marked the undisputable role of financial poverty alleviation in the whole poverty alleviation work and also indicated that present financial poverty alleviation in China has been in a new stage.China has been implementing financial poverty alleviation and a great variety of financial poverty reduction modes have made great contributions to the economic development of poverty-stricken areas in China.However,there are intricate problems to be solved,such as low accuracy,low efficiency and poor sustainability of financial poverty alleviation.In particular,these problems are more prominent in rural areas.In a new stage,financial institutions should take social responsibilities more actively,break through key and difficult points and move forward comprehensive deepening reform and building of a moderately prosperous society of rural areas.As Yunnan Province is one of the poorest areas in China,financial institutions there are confronted with heavier tasks of poverty alleviation.It will contribute to improving the comprehensive poverty reduction efficiency in Yunnan by promoting the “hematopoietic function” of rural financial poverty alleviation and provide a reference for other provinces and municipalities to carry out financial poverty alleviation work in rural areas through assessing the efficiency of rural financial poverty alleviation in Yunnan,finding deficiencies and raising solutions.In view of the above background and problems,this paper draws on the research thinking of Coelli's(1998)“two-stage method” to first apply the DEA model under variable output-oriented scale compensation model to Yunnan Province 16 The static and dynamic efficiency of financial poverty alleviation in each state were measured,and then an empirical study was conducted on the influencing factors of financial poverty alleviation.The basic research content framework is.This paper consists of seven chapters to realize the research objectives.The first chapter describes the background,basics and significance in the first place.In the next place,the documentary method is adopted to review domestic and overseas related literature to provide a reference for future research work.Additionally,someresearch deficiencies have been found to provide a direction of innovation.In the end,this chapter defines the research objectives,contents and methods.In the second chapter,the theoretical induction is firstly used to define the research subjects and the concept scope.Secondly,the overall financial development theory and the development theory of financial institutions(inclusive financial theory)in rural areas are explained respectively to provide theoretical instructions for finding and solving issues of financial poverty alleviation in rural areas of Yunnan in latter part and selecting verified indicators.The last part of this chapter introduces the theoretical knowledge about DEA-Malmquist,the major analytical method used in this paper.In chapter three,descriptive statistical and contrastive analysis methods are taken to descriptively explain the rural poverty status in Yunnan before registration,poverty reduction measures taken for rural areas by financial institutions in Yunnan over the past three years and current rural poverty status in Yunnan so as to preliminarily estimate the efficiency and existing problems of financial poverty alleviation in rural areas in Yunnan.In chapter four,the DEA-Malmquist analysis method is utilized to give a scientific judgement about the efficiency of financial poverty alleviation in rural areas in Yunnan.It aims to answer questions about high or low efficiency or which is inefficient.Next,in chapter five,the fifth chapter adopts the Tobit empirical analysis method to comprehensively explore the specific factors that affect the efficiency of poverty alleviation in rural areas in Yunnan Province,so as to clarify the main problems in rural poverty alleviation in Yunnan Province..In chapter six,through case study,game analysis and inductive analysis,existing successful cases and excellent experience in terms of rural poverty alleviation by financial institutions at home and abroad are shared.The innovation almost covers the rural financial poverty alleviation mechanisms of all subjects of financial poverty alleviation in rural areas in Yunnan.Besides,specific referential actions for each mechanism are also listed.Chapter seven gives a conclusion about the research work.From the perspective of policy making,this paper has offered suggestions about further implementation of rural financial poverty alleviation in Yunnan and also pointed out the deficiencies.To sum up,there are several findings in this paper.(1)The rural financial poverty alleviation in Yunnan has been unsatisfactory over the past few years.The poverty incidence drops,but it is still higher than the national average level.Meanwhile,the number of absolutely poverty-stricken households decreases,but the number of relatively poverty-stricken households rises.In addition,rural financial capitals play a limited role in improving production and life and also education of rural residents.(2)Above problems indicate the lower efficiency of rural financial poverty alleviation in Yunnan.From 2012 to 2016,the total factor productivity dropped.Such factors as insufficient industrial development force in rural areas,unreasonable income distribution and backward R&D of rural financial services are major reasons resulting in long-term deterioration of the technical efficiency of rural financial poverty alleviation in Yunnan.The low comprehensive technical efficiency is caused by theunreasonable structure and scale of the current rural financial system in Yunnan.Thus,it further leads to unfruitful pure techniques and scale of financial poverty alleviation for a long time.For the above facts,this paper has summarized existing researches and practices to divide the subjects of the rural financial poverty alleviation work in Yunnan into four parts,including rural formal financial institution,financial regulator,government organization and rural poverty-stricken people.A new way has been developed for the action mechanisms between and in four types of subjects.Main contents are as follows.Banking institutions in rural formal financial institutions should develop the organization coordination mechanism to enhance the distribution efficiency of financial resources.Banking institutions and nonbanking financial institutions should establish the cooperative mechanism to improve the professional and comprehensive rural financial services.Financial regulators,i.e.the People's Bank of China,CSRC,CBRC,CIRC and State Electricity Regulatory Commission(SERC),should set up the information sharing mechanism to ensure the validity of policy making and disclosure of information.Government departments and village organizations should establish the leadership management mechanism to guarantee the scientificity and implementation of policies made.Farmers and rural enterprises should establish the competition and assistance mechanism to get rid of poverty together.On the basis of completion of internal mechanisms of four types of subjects,rural formal financial institutions should improve the financial service mechanism for rural poverty-stricken people and accept the supervision and guidance mechanism of financial regulators and the long-term guarantee mechanism of government organizations.Government organizations and financial regulators should keep in close contact with rural poverty-stricken people,and respectively establish the people's livelihood support mechanism and the credit management mechanism to assist and enhance the efficiency of rural financial poverty alleviation in Yunnan.All in all,this paper's innovative points include following aspects:(1)Panel data of all prefectures and cities of a province are used;(2)Indicators directly reflecting poverty alleviation effects are included in the DEA-Malmquist analysis;(3)In the Tobit analysis,indicators were selected from two aspects of internal financial development and macroeconomic development conditions to measure the performance and influencing factors of rural financial poverty alleviation in Yunnan Province,Theoretical,descriptive,metrological and case analysis methods are combined to provide relevant mechanisms and concrete guidance of implementation measures for rural financial poverty alleviation in Yunnan from principle to mechanism.