基于信息不对称的农村金融组织研究
|
摘要
从信息经济学的角度看,阻碍“农业增产、农民增收、农村繁荣”的核心瓶颈是“三农”融资困难,造成“三农”融资困难的突出原因是信息不对称。信息不对称诱发的机会主义行为,即逆向选择和道德风险是严重制约我国农村金融市场健康发展的主要问题,也是正规金融组织进入农村市场的重要障碍。因此,将信息不对称理论运用到我国农村金融组织发展研究之中不仅具有重要的理论意义,而且对于指导农村金融组织体系的建设和发展也具有十分重要的应用价值。本文在分析农村金融组织研究现状的基础上,主要研究了以下几个方面的问题:
(1)相对城乡“二元”经济结构的现实,沿用了与城市金融相对应的“农村金融”概念。从农村金融市场上的融资活动看,农村金融可划分为直接金融和间接金融。从农村金融组织体系角度,又可以把农村金融组织分为正规金融组织和非正规金融组织,由于不同性质的金融组织获取的信息来源渠道不同,从而其融资的效率是有差别的。信息不对称是影响金融市场运作效率的重要因素,构成了正规金融组织撤出和难以进入农村经济的主要障碍。
(2)研究了我国农村金融组织体系改革的历程,指出取缔农村合作基金会、商业性金融组织大规模撤出农村,农村资金大量流出农村经济,造成的后果是金融组织体系与农村金融需求主体之间信息沟通的严重阻隔。从历史的角度看,解决“三农”融资困难的策略应该是通过构建多元化的农村金融组织体系,满足各种类型的农村金融需求。
(3)若存在较完善的信息沟通机制,就可以较好的挖掘农村金融需求主体中有效金融需求,
缓解“三农”融资困难。农户的金融需求取决于农民家庭收入和支出两方面的对比,通过对华北平原地区农村的调查发现,农村信息传播不畅通,致使农户收入出现较大的不确定性,这样农民家庭信贷需求是不完全有效的。通过分析河北省乡镇企业的融资情况发现,乡镇企业在发展上所面临的巨大融资困难问题,信息不对称和金融压抑是主要原因,其中前者是首要原因。
(4)借鉴其他学者的研究思路,本文以狭义货币M1作为主要参考的金融指标,计算经济金融相对比例,将正规金融组织的金融供给和非正规金融组织的金融供给都考虑进来,与我国农村金融市场的需求相比仍处于供不应求的失衡状态,并且随着时间的推移供求缺口有进一步扩大的趋势。由于信息不对称引起的逆向选择和道德风险,使得两个相对隔离的市场上的信贷活动表现出不同的运作机制。非正规金融组织由于具有信息优势,所以在发放贷款时,可以通过不同的利率来区分不同类型的农户,并倾向于选择市场型农户开展业务;正规金融组织也具有向市场型农户发放贷款的倾向,但由于信息不对称和利率非市场化的影响和作用,所以正规金融组织不能够运用差异利率区别对待不同类型的农户。
(5)通过研究信号传递模型,从金融组织的立场出发,将信号传递机制倒过来设计就形成了信息甄别机制,就可以有效降低逆向选择问题的发生。通过将激励机制与监督机制同时纳入信贷合同的设计中就会加大对信息的依赖程度,发现农户获得的产出份额与监督信号在信贷合同制定中是相互关联的;在信贷合同实施过程中,农户的努力工作程度与其从金融组织获得的贷款额度无关,这样就可以有效缓解道德风险的发生。
(6)典型国家通过构建多元化的农村金融组织体系,解决金融供给主体与金融需求主体之间的信息沟通障碍,较好的满足了农村金融需求主体的需求。多数国家将农村金融组织区分为政策性、商业性、合作性和小额信贷组织,其中,农村金融组织多元化、信贷渠道多样化,是美国农村金融体系的主要特色;合作金融是德国农村金融的主体;日本农业金融既有强大的农协系统的合作金融,又有政府办的政策性金融,两者相辅相成;印度的农村金融组织体系是发展中农业国的代表,该国的农村金融组织体系非常发达;乡村银行小额信贷模式是孟加拉国农村金融组织体系的主要特点。
(7)我国农村金融体制改革必须构建多元化的农村金融组织体系,改革过程中应遵循适应性、效率性和稳定性的基本原则。从金融供给来看,进一步拓展农业发展银行的支农领域,农业银行应坚持为农服务的方向,农村信用社要充分发挥作为“三农”服务主力军的作用,邮政储蓄银行也需要积极扩大涉农业务范围,大力发展农村地区各种小额信贷组织。从金融需求来看,应提高农户信贷需求有效性,建立现代农业产业体系,提高农业投资收益率,加快转变农村地区经济增长方式。
全文研究内容包括:引言、信息不对称与农村金融组织理论、我国农村金融组织体系改革及面临的问题、“三农”金融需求分析、农村金融市场非均衡的分析、信息甄别和监督机制的设计、典型国家的农村金融组织模式稽考、我国农村金融组织多元化发展对策、研究总结与展望,共计九章。其创新点主要体现在以下几方面:
(1)农村金融体制改革是关系农村经济体制改革成败的复杂工程,信息不对称是当前农村金融市场上普遍存在重要问题。本文从信息经济学的角度,运用信息不对称原理,系统地分析了我国农村金融组织在发展中遇到的逆向选择和道德风险问题,从而找到了制约农村金融组织发展的症结。针对逆向选择和道德风险,通过研究信号传递模型和最优激励与监控模型,探索建立市场信息甄别机制和监督机制,以期解决信息不对称问题。通过把熵理论运用于分析农户收入的不确定性,发现如果农村中信息通畅,则农户收入会稳步提高,即农户收入水平的熵会降低。
(2)针对城乡“二元”结构现象,本文研究发现农村金融市场也被分割为正规金融组织主导的部分和非正规金融组织主导的部分。为了说明农村金融市场长期失衡状态,本文在分析农村金融供给时,既考虑了正规金融组织的供给,也考虑了非正规金融组织的供给,得出了相对准确的需求缺口。
(3)在提出“农村金融组织提供金融服务群体类型的多样性程度”和“农村金融组织对农村金融需求的适应性”两个概念的基础上,构造了简单的模型,说明构建多元化的农村金融组织体系是解决“三农”融资问题的必然选择。
From the view of information economics, the core bottleneck currently hindering“agricultural production, farmers' income, and rural prosperity”is the financing difficulty for“Agriculture, Rural areas, Farmers”, the cause of which lies in the information asymmetry. Information asymmetry induces opportunistic behaviors, which are the adverse selection and moral hazard. They are seriously hampering the development of China's rural financial market, and are the major obstacles of formal financial institutions accessing to the rural market. Therefore, introducing the theory of information asymmetry into the study on developing the rural financial institutions, not only has a strong theoretical significance, but also has practical significance for the promotion of rural financial system development and improvement.
Based on the analysis of rural financial institutions, the article researches on the following areas:
(1)Relative to the "binary" economy structure of urban and rural areas, this article uses the concept of the urban finance relative to the rural finance. From the financial activities of the rural financial market, the rural finance includes direct and indirect financial banking. On the other hand, from the rural financial system, different types of financial institutions, including the formal and informal finance, obtain information from different sources, thus affecting the efficiency of the financing. Information asymmetry is an important factor affecting the operational efficiency of financial markets. The paper points out that information asymmetry is the greatest difficultly for formal financial institutions withdraws from and accesses to the rural economy.
(2)Studying the system of China's rural financial institutions reform process, this paper points out that the situation of“a cooperative supporting‘Agriculture, Rural areas, Farmers’”because of prohibiting the rural cooperative foundations, large-scale commercial financial institutions from rural areas and a large number of rural capital’s outflow from the rural economy. From a historical perspective, the strategy to address the "Agriculture, Rural areas, Farmers" difficulties in financing should be to build a diversifying rural financial organization system to meet the needs of all types of rural finance.
(3)The farmers’financial needs depend on the comparison between their income and expenditure. By investigating the rural in North China Plain, it is found that the rural household income is greatly uncertain so that the farmer family credit demand is not fully effective, because of the information dissemination not smooth in the rural areas. The study about Hebei Province finds that the township enterprises are facing great difficulties in financing, and that information asymmetries and financial repression is the major cause, of which the former is the primary reason.
(4)Learning from other scholars’studying ways, the narrow money (M1) is taken as a main reference to the main financial indicators, and the economic and financial relative proportions are calculated. We compare the financial supply, including the formal and informal financial institutions, with the demand. Then it is shown that China's rural financial market is still in short supply imbalance, and that the supply and demand gap is the further expansion trend as time goes. As adverse selection and moral hazard arising from the information asymmetry, there are different operational mechanisms at the two relatively isolated markets. Because of information superiority, the informal financial institutions distinguish the different types of the farmers when they loan, and they tend to choose the market-based farmers. Formal financial institutions also tend to loan to the market-based farmers, but they can not use interest rate to distinguish the different types of the farmers because of information asymmetry and the interest rate non-marketlization.
(5)Through the study of the signal transmission model, from the financial standpoint, the information screening mechanism can be built as long as the signal transmission is turned the other way round, effectively reducing the adverse selection. Combining the incentive and monitoring mechanisms into the design of the credit contract at the same time will increase the dependence on the information, the farmers’getting the output share and monitoring signals are interrelated in the design of the credit contract. During the implementation course of the credit contract, the extent of the farmers’hard work has nothing to do with the credit loan obtained from the financial institutions, and then this can effectively reduce moral hazard.
(6)In both developed and developing countries, from the experience of resolving successfully the financial difficulties of rural areas, their rural financial systems have a diversified characteristics, and most countries have divided into the rural financial policy, commercial, cooperation and micro-finance organizations. The diversification of rural financial institutions, credit channel diversification, is the main characteristics of the U.S. financial system in rural areas. Germany financial cooperation is the mainstay of rural finance. Japan’s agricultural finance has a strong financial cooperation of the agricultural association system, and the government's financial policy, the two complement each other. India's rural financial system is typical of the developing countries’rural financial systems because it is a highly developed system. The micro-credit model of Grameen Bank is the main features of Bangladesh rural financial system.
(7)The reform of China's rural financial system has to construct a diversifying rural financial system, and the reforming process should be guided by adaptive, efficiency and stability. From the financial supply point of view, Agricultural Development Bank should further expand the field of agriculture, and Agricultural Bank of China should adhere to the orientation of serving the agriculture, and the rural credit cooperatives should full play the main force role of serving "Agriculture, Rural areas, Farmers", and the Postal Savings Bank should actively expand the agricultural services, and the microcredit organizations should be developed vigorously in rural areas. From the financial demand point of view, the effectiveness of the farmers’credit needs should be enhanced, and the modern industrial system of agriculture should be established, and the agricultural investment return rate be increased, and the mode of economic growth be transformed in rural areas.
The full paper altogether includes nine chapters, which are introduction, information asymmetry and rural finance institution theory, the inspection of the typical national rural finance institution patterns, our country Rural finance institution system questions which reforms are faced with, the analysis on the financial demand of“Agriculture, Rural areas, Farmers”, the analysis on the un-equilibrium of the rural finance market, the design of information screening and surveillance mechanism, the countermeasure of our country rural finance institution multiplication development, research summary and forecast. The innovation points in this article are mainly manifested in the following aspects:
(1)The reform of the rural financial system is a complex engineering concerneing the success or failure of the reform of the rural economic system, and information asymmetry is a general and vital issue in the rural financial market. From the perspective of information economics, using the asymmetric information theory, the article has analyzed systematically that the problems of adverse selection and moral hazard have been encountered during developing China's rural financial institutions, and found the development crux. In order to take precautions against adverse selection and moral hazard, the paper studies the signal transduction model and the best incentive and monitoring model. And it explores the establishment of the market information screening and monitoring mechanisms with a view to resolve the problem of information asymmetry. The entropy theory of information economics is applied when the article analyzes the uncertainty of the farmers’income. It is found that, the farmers’income will rise steadily if rural information is fluid, the entropy of the farmers’income level will be reduced.
(2)China's "binary economies" structure of urban and rural areas has been shown, and this paper finds that the rural financial market is also divided into the part led by the formal financial institutions and the other part led by the non-formal financial institutions. In order to illustrate the long-term imbalance of the rural financial markets, this paper takes into account both the supply of the formal financial institutions and the supply of the informal ones when it analyzes the rural financial supply. And it has arrived at the relatively accurate gap of the demand.
(3)Based on the proposing of the two concept, which are the diversification degree of the community types that are serviced by the rural finance institution and the compatibility of the rural finance institution to the rural finance demand, constructing a simple model, the paper illustrates that it is an inevitable choice to build a diversifying rural financial system to solve the financing issue of the "Agriculture, Rural areas, Farmers ".
(1)相对城乡“二元”经济结构的现实,沿用了与城市金融相对应的“农村金融”概念。从农村金融市场上的融资活动看,农村金融可划分为直接金融和间接金融。从农村金融组织体系角度,又可以把农村金融组织分为正规金融组织和非正规金融组织,由于不同性质的金融组织获取的信息来源渠道不同,从而其融资的效率是有差别的。信息不对称是影响金融市场运作效率的重要因素,构成了正规金融组织撤出和难以进入农村经济的主要障碍。
(2)研究了我国农村金融组织体系改革的历程,指出取缔农村合作基金会、商业性金融组织大规模撤出农村,农村资金大量流出农村经济,造成的后果是金融组织体系与农村金融需求主体之间信息沟通的严重阻隔。从历史的角度看,解决“三农”融资困难的策略应该是通过构建多元化的农村金融组织体系,满足各种类型的农村金融需求。
(3)若存在较完善的信息沟通机制,就可以较好的挖掘农村金融需求主体中有效金融需求,
缓解“三农”融资困难。农户的金融需求取决于农民家庭收入和支出两方面的对比,通过对华北平原地区农村的调查发现,农村信息传播不畅通,致使农户收入出现较大的不确定性,这样农民家庭信贷需求是不完全有效的。通过分析河北省乡镇企业的融资情况发现,乡镇企业在发展上所面临的巨大融资困难问题,信息不对称和金融压抑是主要原因,其中前者是首要原因。
(4)借鉴其他学者的研究思路,本文以狭义货币M1作为主要参考的金融指标,计算经济金融相对比例,将正规金融组织的金融供给和非正规金融组织的金融供给都考虑进来,与我国农村金融市场的需求相比仍处于供不应求的失衡状态,并且随着时间的推移供求缺口有进一步扩大的趋势。由于信息不对称引起的逆向选择和道德风险,使得两个相对隔离的市场上的信贷活动表现出不同的运作机制。非正规金融组织由于具有信息优势,所以在发放贷款时,可以通过不同的利率来区分不同类型的农户,并倾向于选择市场型农户开展业务;正规金融组织也具有向市场型农户发放贷款的倾向,但由于信息不对称和利率非市场化的影响和作用,所以正规金融组织不能够运用差异利率区别对待不同类型的农户。
(5)通过研究信号传递模型,从金融组织的立场出发,将信号传递机制倒过来设计就形成了信息甄别机制,就可以有效降低逆向选择问题的发生。通过将激励机制与监督机制同时纳入信贷合同的设计中就会加大对信息的依赖程度,发现农户获得的产出份额与监督信号在信贷合同制定中是相互关联的;在信贷合同实施过程中,农户的努力工作程度与其从金融组织获得的贷款额度无关,这样就可以有效缓解道德风险的发生。
(6)典型国家通过构建多元化的农村金融组织体系,解决金融供给主体与金融需求主体之间的信息沟通障碍,较好的满足了农村金融需求主体的需求。多数国家将农村金融组织区分为政策性、商业性、合作性和小额信贷组织,其中,农村金融组织多元化、信贷渠道多样化,是美国农村金融体系的主要特色;合作金融是德国农村金融的主体;日本农业金融既有强大的农协系统的合作金融,又有政府办的政策性金融,两者相辅相成;印度的农村金融组织体系是发展中农业国的代表,该国的农村金融组织体系非常发达;乡村银行小额信贷模式是孟加拉国农村金融组织体系的主要特点。
(7)我国农村金融体制改革必须构建多元化的农村金融组织体系,改革过程中应遵循适应性、效率性和稳定性的基本原则。从金融供给来看,进一步拓展农业发展银行的支农领域,农业银行应坚持为农服务的方向,农村信用社要充分发挥作为“三农”服务主力军的作用,邮政储蓄银行也需要积极扩大涉农业务范围,大力发展农村地区各种小额信贷组织。从金融需求来看,应提高农户信贷需求有效性,建立现代农业产业体系,提高农业投资收益率,加快转变农村地区经济增长方式。
全文研究内容包括:引言、信息不对称与农村金融组织理论、我国农村金融组织体系改革及面临的问题、“三农”金融需求分析、农村金融市场非均衡的分析、信息甄别和监督机制的设计、典型国家的农村金融组织模式稽考、我国农村金融组织多元化发展对策、研究总结与展望,共计九章。其创新点主要体现在以下几方面:
(1)农村金融体制改革是关系农村经济体制改革成败的复杂工程,信息不对称是当前农村金融市场上普遍存在重要问题。本文从信息经济学的角度,运用信息不对称原理,系统地分析了我国农村金融组织在发展中遇到的逆向选择和道德风险问题,从而找到了制约农村金融组织发展的症结。针对逆向选择和道德风险,通过研究信号传递模型和最优激励与监控模型,探索建立市场信息甄别机制和监督机制,以期解决信息不对称问题。通过把熵理论运用于分析农户收入的不确定性,发现如果农村中信息通畅,则农户收入会稳步提高,即农户收入水平的熵会降低。
(2)针对城乡“二元”结构现象,本文研究发现农村金融市场也被分割为正规金融组织主导的部分和非正规金融组织主导的部分。为了说明农村金融市场长期失衡状态,本文在分析农村金融供给时,既考虑了正规金融组织的供给,也考虑了非正规金融组织的供给,得出了相对准确的需求缺口。
(3)在提出“农村金融组织提供金融服务群体类型的多样性程度”和“农村金融组织对农村金融需求的适应性”两个概念的基础上,构造了简单的模型,说明构建多元化的农村金融组织体系是解决“三农”融资问题的必然选择。
From the view of information economics, the core bottleneck currently hindering“agricultural production, farmers' income, and rural prosperity”is the financing difficulty for“Agriculture, Rural areas, Farmers”, the cause of which lies in the information asymmetry. Information asymmetry induces opportunistic behaviors, which are the adverse selection and moral hazard. They are seriously hampering the development of China's rural financial market, and are the major obstacles of formal financial institutions accessing to the rural market. Therefore, introducing the theory of information asymmetry into the study on developing the rural financial institutions, not only has a strong theoretical significance, but also has practical significance for the promotion of rural financial system development and improvement.
Based on the analysis of rural financial institutions, the article researches on the following areas:
(1)Relative to the "binary" economy structure of urban and rural areas, this article uses the concept of the urban finance relative to the rural finance. From the financial activities of the rural financial market, the rural finance includes direct and indirect financial banking. On the other hand, from the rural financial system, different types of financial institutions, including the formal and informal finance, obtain information from different sources, thus affecting the efficiency of the financing. Information asymmetry is an important factor affecting the operational efficiency of financial markets. The paper points out that information asymmetry is the greatest difficultly for formal financial institutions withdraws from and accesses to the rural economy.
(2)Studying the system of China's rural financial institutions reform process, this paper points out that the situation of“a cooperative supporting‘Agriculture, Rural areas, Farmers’”because of prohibiting the rural cooperative foundations, large-scale commercial financial institutions from rural areas and a large number of rural capital’s outflow from the rural economy. From a historical perspective, the strategy to address the "Agriculture, Rural areas, Farmers" difficulties in financing should be to build a diversifying rural financial organization system to meet the needs of all types of rural finance.
(3)The farmers’financial needs depend on the comparison between their income and expenditure. By investigating the rural in North China Plain, it is found that the rural household income is greatly uncertain so that the farmer family credit demand is not fully effective, because of the information dissemination not smooth in the rural areas. The study about Hebei Province finds that the township enterprises are facing great difficulties in financing, and that information asymmetries and financial repression is the major cause, of which the former is the primary reason.
(4)Learning from other scholars’studying ways, the narrow money (M1) is taken as a main reference to the main financial indicators, and the economic and financial relative proportions are calculated. We compare the financial supply, including the formal and informal financial institutions, with the demand. Then it is shown that China's rural financial market is still in short supply imbalance, and that the supply and demand gap is the further expansion trend as time goes. As adverse selection and moral hazard arising from the information asymmetry, there are different operational mechanisms at the two relatively isolated markets. Because of information superiority, the informal financial institutions distinguish the different types of the farmers when they loan, and they tend to choose the market-based farmers. Formal financial institutions also tend to loan to the market-based farmers, but they can not use interest rate to distinguish the different types of the farmers because of information asymmetry and the interest rate non-marketlization.
(5)Through the study of the signal transmission model, from the financial standpoint, the information screening mechanism can be built as long as the signal transmission is turned the other way round, effectively reducing the adverse selection. Combining the incentive and monitoring mechanisms into the design of the credit contract at the same time will increase the dependence on the information, the farmers’getting the output share and monitoring signals are interrelated in the design of the credit contract. During the implementation course of the credit contract, the extent of the farmers’hard work has nothing to do with the credit loan obtained from the financial institutions, and then this can effectively reduce moral hazard.
(6)In both developed and developing countries, from the experience of resolving successfully the financial difficulties of rural areas, their rural financial systems have a diversified characteristics, and most countries have divided into the rural financial policy, commercial, cooperation and micro-finance organizations. The diversification of rural financial institutions, credit channel diversification, is the main characteristics of the U.S. financial system in rural areas. Germany financial cooperation is the mainstay of rural finance. Japan’s agricultural finance has a strong financial cooperation of the agricultural association system, and the government's financial policy, the two complement each other. India's rural financial system is typical of the developing countries’rural financial systems because it is a highly developed system. The micro-credit model of Grameen Bank is the main features of Bangladesh rural financial system.
(7)The reform of China's rural financial system has to construct a diversifying rural financial system, and the reforming process should be guided by adaptive, efficiency and stability. From the financial supply point of view, Agricultural Development Bank should further expand the field of agriculture, and Agricultural Bank of China should adhere to the orientation of serving the agriculture, and the rural credit cooperatives should full play the main force role of serving "Agriculture, Rural areas, Farmers", and the Postal Savings Bank should actively expand the agricultural services, and the microcredit organizations should be developed vigorously in rural areas. From the financial demand point of view, the effectiveness of the farmers’credit needs should be enhanced, and the modern industrial system of agriculture should be established, and the agricultural investment return rate be increased, and the mode of economic growth be transformed in rural areas.
The full paper altogether includes nine chapters, which are introduction, information asymmetry and rural finance institution theory, the inspection of the typical national rural finance institution patterns, our country Rural finance institution system questions which reforms are faced with, the analysis on the financial demand of“Agriculture, Rural areas, Farmers”, the analysis on the un-equilibrium of the rural finance market, the design of information screening and surveillance mechanism, the countermeasure of our country rural finance institution multiplication development, research summary and forecast. The innovation points in this article are mainly manifested in the following aspects:
(1)The reform of the rural financial system is a complex engineering concerneing the success or failure of the reform of the rural economic system, and information asymmetry is a general and vital issue in the rural financial market. From the perspective of information economics, using the asymmetric information theory, the article has analyzed systematically that the problems of adverse selection and moral hazard have been encountered during developing China's rural financial institutions, and found the development crux. In order to take precautions against adverse selection and moral hazard, the paper studies the signal transduction model and the best incentive and monitoring model. And it explores the establishment of the market information screening and monitoring mechanisms with a view to resolve the problem of information asymmetry. The entropy theory of information economics is applied when the article analyzes the uncertainty of the farmers’income. It is found that, the farmers’income will rise steadily if rural information is fluid, the entropy of the farmers’income level will be reduced.
(2)China's "binary economies" structure of urban and rural areas has been shown, and this paper finds that the rural financial market is also divided into the part led by the formal financial institutions and the other part led by the non-formal financial institutions. In order to illustrate the long-term imbalance of the rural financial markets, this paper takes into account both the supply of the formal financial institutions and the supply of the informal ones when it analyzes the rural financial supply. And it has arrived at the relatively accurate gap of the demand.
(3)Based on the proposing of the two concept, which are the diversification degree of the community types that are serviced by the rural finance institution and the compatibility of the rural finance institution to the rural finance demand, constructing a simple model, the paper illustrates that it is an inevitable choice to build a diversifying rural financial system to solve the financing issue of the "Agriculture, Rural areas, Farmers ".
引文
[1]中国人民银行合肥中心支行调研组农村金融机构撤并的利弊及政策建议[J]中国金融2005年第14期p31-32.
[2]钟笑寒,汤荔.农村金融机构收缩的经济影响:对中国的实证研究[J]经济评论2005年第1期p109-115.
[3]张乐柱.悖论中的农村金融改革[J]金融理论与实践2005年第11期p6-9.
[4]罗春玲,谢家智.农村金融体系的制度创新[J]改革2005年第2期p41-46.
[5] F. Modigliani and M. H. Miller,“The Cost of Capital, Corporation Finance and the Theory of Investment”, The American Economic Review, Vol.48, No.3, pp.261-297, Jun 1958.
[6]John R. Hicks,“A Theory of Economic History”, Oxford, Clarendon Press,1969.
[7]World Bank.2001, Finance for Growth: Policy Choices in A Volatile World. A World Policy Research Report, A co-publication of the World Bank and Oxford University Press.
[8]King, R.G&R.Levine, l993c, Financial Intermediation and Economic Development. In C. Mayer&X. Vives (ed.) Capital Markets and Financial Intermediation, Cambridge: Cambridge University Press.
[9]Levine, Ross.1997,“Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, June, Vo1.35, pp. 688-726.
[10]King,Robert G. and Ross Levine, 1993,“Finance and Growth: Schumpeter Mightbe Right”, Quarterly Journal of Economics, pp.717-737.
[11]King, Robert G. and Ross Levine.1993b,“finance, Entrepreneurship, and Growth: theory and Evidence”, Journal of Monetary Economics, 32(3, December):pp513-542.
[12]Levine, Ross and Sara Zervos, 1998,“Stock markets, Banks and Economic Growth”, The American Economic Review 88(3): pp537-58.
[13]Zilibotti, F. 1994, Endogenous Growth and Intermediation in an“Archipelago”Economy. Economic Journal, 103.
[14]乌家培.信息经济学[J].经济学动态1997.8 p3-5.
[15]乌家培.谈信恳经济学及其内容(-)(二) [J]信恳经济与技术1997 (10)(11).
[16]谢康.国外信息经济学研究[J]科学决策2000.4 p41-46.
[17]陈禹,谢康.信息经济学及其应用[J]改革1998.2 p98-101.
[18]陈昆玉.信息经济学评述[J]情报理论与实践2001.3 p175-177.
[19]李贺扬.21世纪经济学--信息经济学概述[J]核情报工作与研究1997.4 p1-2.
[20]朱志玲.信息经济学发展概述[J]安徽大学学报(哲学社会科学版) 1994.4 p102-103.
[21]Akerlof, George.“The Market for Lemons: Quality Uncertainty and the Market Mechanism.”Quarterly Journa1 of Economics 84, 1970, pp.488-500.
[22]Spence,Miehael.“Job Market Signaling.”Quarterly Journal of Economics 87,1973, pp. 355-374.
[23]Rothehild,Miehael and Stiglitz,Joseph.“Equilibrium in Competitive Insurance Market: An Essay on the Eeonomics Of Imperfect Information.”Quarterly Journa1 of Economics 90,1976,pp.629-649.
[24]Stiglitz,Joseph and Weiss,A.“Credit Rationing in Markets with Imperfect Information.”The American Economic Review 71, 1981.pp.393-409.
[25]王隽.信息不对称对农村信用社贷款的影响[J]南方金融2004.3 p37-38,41.
[26]刘林,赵永亮,郭祥.农村金融信息不对称问题解决方案探析[J]市场周刊(理论研究) 2006.11 p8-9.
[27]卢艳茹.浅谈信息不对称视角下的农村小额信贷[J]企业家天地2007.7 p217-218.
[28]邱立军.农村信贷市场信息不对称及其对策[J]中国管理信息化2007.7.
[29]左臣明,王莉.信息不对称、非正规金融与农村金融改革[J]新观察2006.2 p32-34
[30]彭建刚,王修华.信息不对称与地方中小金融机构发展的内在关联性研究[J]商业经济与管理2005.11 p57-62.
[31]周脉伏,徐进前.信息成本、不完全契约与农村金融机构设置[J]中国农村观察2004.5 p38-43,79-80.
[32]张军.改革后中国农村的非正规金融部门:温州案例[J]中国社会科学(季刊) 1997(秋季)
[33]林毅夫,孙希芳.信息、非正规金融与中小企业融资[J]经济研究2005.7 p35-44.
[34]唐颖.非对称信息理论与农村信贷市场[J]金融理论与实践2006.8 p9-12.
[35]谢玉梅.农户借贷约束与供求缺口弥补路径分析[J]中国社会科学院研究生院学报2006.7 p49-52.
[36]谢东海,谭秋梅,李琳琳.从信息不对称看我国农村金融弱化[J]南方金融2007.6 p27-29.
[37]牛建高,杨亮芳.金融学[M]南京:东南大学出版社2005 p159-160.
[38]2006年中国金融年鉴.中国金融年鉴编辑部.2006.
[39]韩坚.农村金融组织的比较与重构[J]贵州社会科学2006.1 P15-17.
[40]何广文.中国农村金融供求特征及均衡供求的路径选择[J]中国农村经济2001.10 p40-45.
[41]牛路辰,杜妍蓉.从资金供需视角看新农村金融组织体系构建[J]甘肃金融2006.11 P11-13.
[42]John M Barron and Michael Staten, The Value of Comprehensive Credit Reports: Lessons fromthe US Experience. The Banker, May 2000.
[43]Jappelli,T.and M.Pagano.Role and Effects of Credit Information Sharing[M].forthcoming in The Economics of Consumer Credit:European Experience and Lessons from the U.S,edited by Giuseppe Bertola,Richard Disney,and Charles Grant[M].Cambridge:The MIT Press,2005.
[44]周立-个农民的九年放贷史——山东湖庄调查[J]银行家2005.8 p55-59.
[45]Debraj Ray. Development Economics[M], New Jersey: Princeton University Press. 1998.中文版由北京大学出版社2002年出版.
[46]Meyer, R., Nagarajan, G. Rural Financial Markets in Asia: Policies Paradigms, and Performance, London: Oxford University Press. 2001.
[47]Bardhan and Urdy. Development Microeconomics, Oxford University Press. 1999.
[48]张维迎.产权、政府与信誉[M]北京三联书店年版p6.
[49]唐成.中国的政策性金融和邮政储蓄的关系研究[J]经济研究2002.11 p45-53,93.
[50]何广文.合作金融组织的制度性绩效探析[J]中国农村经济1999.2 p37-42.
[51]鞠正江.论农村金融体系改革的历史变迁及其深化[J]中共四川省委党校学报2005.9 p23-26.
[52]金立新.中国邮政储蓄银行成立[J]金融博览2007.5 p12-13.
[53]董杰,王继权.农村合作基金会:强制性制度变迁还是诱致性制度变迁? [J]南京金融高等专科学校学报2002.1 p8-11.
[54]李静.关于农村合作基金会的研究综述[J]中国农村观察2002.6 p69-77.
[55]温铁军.农村合作基金会的兴衰:1984-1999中国经济信息网50人论坛2001年.
[56]王颖.农村金融体系形成过程与改革路径[J]农业经济2007.8 p73-74.
[57]陈许华.试论农村合作基金会的产生、发展与规范[J]农业现代化研究1996.5 p161-163.
[58]张元红,李静,张军.从合作基金会事件看中国农村金融改革与发展[J]中国农村经济2002.8 p10-19.
[59]张红宇.中国农村金融组织体系:绩效,缺陷与制度创新[J]理论探讨2004.4 p19-24.
[60]何广文.中国农村金融供求特征及均衡供求的路径选择[J]中国农村经济2001.10 p40-45.
[61]牛建高,李义超,林万龙.中国农村贫困的金融成因:基于产权视角的分析[J].上海交通大学学报(哲社版),2005(3 ):p40-44.
[62]孙雷,佟健,李配法.农村建设中农户融资需求研究[J].济南金融,2006(12):p60-62.
[63]焦兵.农村金融需求的结构性与层次性分析[J].学术界,2007(1):p 141-145.
[64]陈斐,康松.掌握农村金融需求特点,推进农村金融体制改革[J].生产力研究,2007(1):p30-31.
[65]王醒男.基于需求与发展视角的农村金融改革逻辑再考[J].金融研究,2006(7):p53-64.
[66]刘锡良,王磊.转型时期我国农村金融改革政策研究—基于四川省梓憧县的案例研究[J].经济与管理研究,2007(2):p44-49.
[67]张琴,赵丙奇.从农村金融需求的视角看农村金融改革[J].软科学,2006(2):p88-100.
[68]李军峰,王健,郭淑缓.完善我国农村金融机构体系的思考[J]统计与决策2007.23 p143-145.
[69]李军峰,牛建高,王健.基于信息熵的农民信贷需求研究[J]中国农学通报2008.9 p522-527.
[70]张琴,赵丙奇.从农村金融需求的视角看农村金融改革[J]软科学2006.2 p88-91,100.
[71]林毅夫,李永军.乡镇金融机构发展与乡镇企业融资[J]经济研究2001.1 p10-18,53,93.
[72]王家传等.我国农村金融组织体系重构问题研究[J]山东农业大学学报(社会科学版)2003.3
[73]叶敬忠,朱炎洁,杨洪萍.社会学视角的农户金融需求与农村金融供给[J]中国农村经济2004.8 p31-37,43.
[74]贾军慧,王影.农村金融市场的失衡及其治理[J]中国乡镇企业2003.8 p31-32.
[75]王立群,王文昊.关于建立新型农村融资渠道的思考[J]乡镇经济2007.3 p21-24.
[76]高帆.我国农村中的需求型金融抑制及其解除[J]中国农村经济2002.12 p68-72.
[77]王敏,顾丽娟.农村信贷市场供需矛盾、特点及对策分析[J]甘肃农业2004.7 p69.
[78]王叙果.我国农村金融市场的非均衡性分析[J]农业经济问题(月刊) 2005.2 p40-43.
[79]宋磊,李俊丽.农户信贷需求与农村金融市场非均衡态势的实证分析[J]农业经济问题(月刊) 2006.7 p55-61,80.
[80]田力,胡改导,王东方.中国农村金融融量问题研究[J]金融研究2004.3 p125-135.
[81]武翠芳,赵其有,王向东.我国农村资金供求缺口分析[J]金融理论与实践2007.5 p65-66.
[82]郭沛.中国农村非正规金融规模估算[J]中国农村观察2004.2 p21-25.
[83]杨莲娜.当前农村非正式金融的运行状况及发展前景[J]财经科学2005.4 p129-134.
[84]叶敬忠,朱炎洁,杨洪萍.社会学视角的农户金融需求与农村金融供给[J]中国农村经济2004.8 p31-37,43.
[85]温铁军.农户信用与民间借贷研究:农户信用与民间借贷课题主报告中经网50人论坛2001年6月7日.
[86]韩坚.农村金融组织的比较与重构[J]贵州社会科学2006.1 p15-17.
[87]王曙光.村庄信任、关系共同体与农村民间金融演进[J]中国农村观察2007.4 p75-79.
[88]刘民权,徐忠,俞建拖.信贷市场中的非正规金融[J]世界经济2003.7 p61-73,80.
[89]Spence. Job Market Signaling [J]. Quarterly of Economics, 1973(87): 355-429.
[90]Spence. Job Market Signaling [M]. Cambridge Mass: Harvard University Press, 1974.
[91]Schmalensee. A Model of Advertising and Product Quality [J]. Journal of Political Economy, 1978(86): 485-503.
[92]Rothschild. M and J. Stiglitz. Equilibrium in Competitive Insurance Market [J]. Quartely Journal of Economics, 1976(90):629-678.
[93]Chritopher NS. Negotiation and renegotiations of finance Contracts under the threat of predation [J]. The Journal of Industrial Economics, 1996(9): 325-343.
[94]Bambeng G, Spremann K. Implications of constant risk aversion [J]. Operations Research, 1981(25): 205-224.
[95]国外农村金融编写组.国外农村金融[M].成都:西南财经大学出版社1993年.
[96]白钦先,曲昭光著.各国政策性金融机构比较[M]北京:中国金融出版社,1993.
[97]何广文.德国金融制度研究[M]北京:中国社会保障出版社2000.9
[98]马忠富.国际农村合作金融发展经验及其启示[J]中国农村经济2001.5 p72-78.
[99]黄玉龙,谢榕华,李思维.我国农村金融组织体系的现状、缺陷以及国际经验借鉴[J]湖南社会科学2005.6 p101-104.
[100] [日]高木勇树日本的农民组织与农村金融[J]农业经济问题(月刊) 2006.12 p68-74.
[101]白广玉.印度农村金融体系和运行绩效评介[J]农业经济问题(月刊) 2005.11 p75-78.
[102] RBI: Report on Trend and Progress of Banking in India 2004~2005 [R]. June 30,2005.
[103]马忠富著,中国农村合作金融发展研究[M],中国金融出版社,2001.
[104]印度政府: 2001~2002年度经济调查[R].印度政府财政部经济处.2002.
[105]RakeshMohan: AgriculturalCredit in India: Status,Issues and Future Agenda [J]. Economic and PoliticalWeekly,New DelhiMarch 18-24,2006.
[106]张勇.孟加拉小额信贷模式的最新发展[J]中国农村经济2003.6 p67-72.
[107]何广文.中国农村金融转型与金融机构多元化[J]中国农村观察2004.2 p12-20.
[108]何广文.农村金融机构多元化的路径选择[J]中国改革2007.3 p34.
[109]杨荣.构建多元化的我国农村金融机构体系[J]金融与经济2005.7 p67-68.
[110]徐应红.民营资本:农村金融多元化的助推器[J]理论观察2005.5 p143-144.
[111]人民银行廊坊市中心支行课题组农村金融现状与多元化发展路径选择[J]华北金融2006.8 p49-51.
[112]蔡则祥.我国农村金融组织体系的完善与创新[J]农业经济问题2002.4 P22-28.
[113]李军峰,王健.基于产业寿命周期的农业优势产业选择研究[J]中国经济评论2007.4 p42-45,50.
[2]钟笑寒,汤荔.农村金融机构收缩的经济影响:对中国的实证研究[J]经济评论2005年第1期p109-115.
[3]张乐柱.悖论中的农村金融改革[J]金融理论与实践2005年第11期p6-9.
[4]罗春玲,谢家智.农村金融体系的制度创新[J]改革2005年第2期p41-46.
[5] F. Modigliani and M. H. Miller,“The Cost of Capital, Corporation Finance and the Theory of Investment”, The American Economic Review, Vol.48, No.3, pp.261-297, Jun 1958.
[6]John R. Hicks,“A Theory of Economic History”, Oxford, Clarendon Press,1969.
[7]World Bank.2001, Finance for Growth: Policy Choices in A Volatile World. A World Policy Research Report, A co-publication of the World Bank and Oxford University Press.
[8]King, R.G&R.Levine, l993c, Financial Intermediation and Economic Development. In C. Mayer&X. Vives (ed.) Capital Markets and Financial Intermediation, Cambridge: Cambridge University Press.
[9]Levine, Ross.1997,“Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, June, Vo1.35, pp. 688-726.
[10]King,Robert G. and Ross Levine, 1993,“Finance and Growth: Schumpeter Mightbe Right”, Quarterly Journal of Economics, pp.717-737.
[11]King, Robert G. and Ross Levine.1993b,“finance, Entrepreneurship, and Growth: theory and Evidence”, Journal of Monetary Economics, 32(3, December):pp513-542.
[12]Levine, Ross and Sara Zervos, 1998,“Stock markets, Banks and Economic Growth”, The American Economic Review 88(3): pp537-58.
[13]Zilibotti, F. 1994, Endogenous Growth and Intermediation in an“Archipelago”Economy. Economic Journal, 103.
[14]乌家培.信息经济学[J].经济学动态1997.8 p3-5.
[15]乌家培.谈信恳经济学及其内容(-)(二) [J]信恳经济与技术1997 (10)(11).
[16]谢康.国外信息经济学研究[J]科学决策2000.4 p41-46.
[17]陈禹,谢康.信息经济学及其应用[J]改革1998.2 p98-101.
[18]陈昆玉.信息经济学评述[J]情报理论与实践2001.3 p175-177.
[19]李贺扬.21世纪经济学--信息经济学概述[J]核情报工作与研究1997.4 p1-2.
[20]朱志玲.信息经济学发展概述[J]安徽大学学报(哲学社会科学版) 1994.4 p102-103.
[21]Akerlof, George.“The Market for Lemons: Quality Uncertainty and the Market Mechanism.”Quarterly Journa1 of Economics 84, 1970, pp.488-500.
[22]Spence,Miehael.“Job Market Signaling.”Quarterly Journal of Economics 87,1973, pp. 355-374.
[23]Rothehild,Miehael and Stiglitz,Joseph.“Equilibrium in Competitive Insurance Market: An Essay on the Eeonomics Of Imperfect Information.”Quarterly Journa1 of Economics 90,1976,pp.629-649.
[24]Stiglitz,Joseph and Weiss,A.“Credit Rationing in Markets with Imperfect Information.”The American Economic Review 71, 1981.pp.393-409.
[25]王隽.信息不对称对农村信用社贷款的影响[J]南方金融2004.3 p37-38,41.
[26]刘林,赵永亮,郭祥.农村金融信息不对称问题解决方案探析[J]市场周刊(理论研究) 2006.11 p8-9.
[27]卢艳茹.浅谈信息不对称视角下的农村小额信贷[J]企业家天地2007.7 p217-218.
[28]邱立军.农村信贷市场信息不对称及其对策[J]中国管理信息化2007.7.
[29]左臣明,王莉.信息不对称、非正规金融与农村金融改革[J]新观察2006.2 p32-34
[30]彭建刚,王修华.信息不对称与地方中小金融机构发展的内在关联性研究[J]商业经济与管理2005.11 p57-62.
[31]周脉伏,徐进前.信息成本、不完全契约与农村金融机构设置[J]中国农村观察2004.5 p38-43,79-80.
[32]张军.改革后中国农村的非正规金融部门:温州案例[J]中国社会科学(季刊) 1997(秋季)
[33]林毅夫,孙希芳.信息、非正规金融与中小企业融资[J]经济研究2005.7 p35-44.
[34]唐颖.非对称信息理论与农村信贷市场[J]金融理论与实践2006.8 p9-12.
[35]谢玉梅.农户借贷约束与供求缺口弥补路径分析[J]中国社会科学院研究生院学报2006.7 p49-52.
[36]谢东海,谭秋梅,李琳琳.从信息不对称看我国农村金融弱化[J]南方金融2007.6 p27-29.
[37]牛建高,杨亮芳.金融学[M]南京:东南大学出版社2005 p159-160.
[38]2006年中国金融年鉴.中国金融年鉴编辑部.2006.
[39]韩坚.农村金融组织的比较与重构[J]贵州社会科学2006.1 P15-17.
[40]何广文.中国农村金融供求特征及均衡供求的路径选择[J]中国农村经济2001.10 p40-45.
[41]牛路辰,杜妍蓉.从资金供需视角看新农村金融组织体系构建[J]甘肃金融2006.11 P11-13.
[42]John M Barron and Michael Staten, The Value of Comprehensive Credit Reports: Lessons fromthe US Experience. The Banker, May 2000.
[43]Jappelli,T.and M.Pagano.Role and Effects of Credit Information Sharing[M].forthcoming in The Economics of Consumer Credit:European Experience and Lessons from the U.S,edited by Giuseppe Bertola,Richard Disney,and Charles Grant[M].Cambridge:The MIT Press,2005.
[44]周立-个农民的九年放贷史——山东湖庄调查[J]银行家2005.8 p55-59.
[45]Debraj Ray. Development Economics[M], New Jersey: Princeton University Press. 1998.中文版由北京大学出版社2002年出版.
[46]Meyer, R., Nagarajan, G. Rural Financial Markets in Asia: Policies Paradigms, and Performance, London: Oxford University Press. 2001.
[47]Bardhan and Urdy. Development Microeconomics, Oxford University Press. 1999.
[48]张维迎.产权、政府与信誉[M]北京三联书店年版p6.
[49]唐成.中国的政策性金融和邮政储蓄的关系研究[J]经济研究2002.11 p45-53,93.
[50]何广文.合作金融组织的制度性绩效探析[J]中国农村经济1999.2 p37-42.
[51]鞠正江.论农村金融体系改革的历史变迁及其深化[J]中共四川省委党校学报2005.9 p23-26.
[52]金立新.中国邮政储蓄银行成立[J]金融博览2007.5 p12-13.
[53]董杰,王继权.农村合作基金会:强制性制度变迁还是诱致性制度变迁? [J]南京金融高等专科学校学报2002.1 p8-11.
[54]李静.关于农村合作基金会的研究综述[J]中国农村观察2002.6 p69-77.
[55]温铁军.农村合作基金会的兴衰:1984-1999中国经济信息网50人论坛2001年.
[56]王颖.农村金融体系形成过程与改革路径[J]农业经济2007.8 p73-74.
[57]陈许华.试论农村合作基金会的产生、发展与规范[J]农业现代化研究1996.5 p161-163.
[58]张元红,李静,张军.从合作基金会事件看中国农村金融改革与发展[J]中国农村经济2002.8 p10-19.
[59]张红宇.中国农村金融组织体系:绩效,缺陷与制度创新[J]理论探讨2004.4 p19-24.
[60]何广文.中国农村金融供求特征及均衡供求的路径选择[J]中国农村经济2001.10 p40-45.
[61]牛建高,李义超,林万龙.中国农村贫困的金融成因:基于产权视角的分析[J].上海交通大学学报(哲社版),2005(3 ):p40-44.
[62]孙雷,佟健,李配法.农村建设中农户融资需求研究[J].济南金融,2006(12):p60-62.
[63]焦兵.农村金融需求的结构性与层次性分析[J].学术界,2007(1):p 141-145.
[64]陈斐,康松.掌握农村金融需求特点,推进农村金融体制改革[J].生产力研究,2007(1):p30-31.
[65]王醒男.基于需求与发展视角的农村金融改革逻辑再考[J].金融研究,2006(7):p53-64.
[66]刘锡良,王磊.转型时期我国农村金融改革政策研究—基于四川省梓憧县的案例研究[J].经济与管理研究,2007(2):p44-49.
[67]张琴,赵丙奇.从农村金融需求的视角看农村金融改革[J].软科学,2006(2):p88-100.
[68]李军峰,王健,郭淑缓.完善我国农村金融机构体系的思考[J]统计与决策2007.23 p143-145.
[69]李军峰,牛建高,王健.基于信息熵的农民信贷需求研究[J]中国农学通报2008.9 p522-527.
[70]张琴,赵丙奇.从农村金融需求的视角看农村金融改革[J]软科学2006.2 p88-91,100.
[71]林毅夫,李永军.乡镇金融机构发展与乡镇企业融资[J]经济研究2001.1 p10-18,53,93.
[72]王家传等.我国农村金融组织体系重构问题研究[J]山东农业大学学报(社会科学版)2003.3
[73]叶敬忠,朱炎洁,杨洪萍.社会学视角的农户金融需求与农村金融供给[J]中国农村经济2004.8 p31-37,43.
[74]贾军慧,王影.农村金融市场的失衡及其治理[J]中国乡镇企业2003.8 p31-32.
[75]王立群,王文昊.关于建立新型农村融资渠道的思考[J]乡镇经济2007.3 p21-24.
[76]高帆.我国农村中的需求型金融抑制及其解除[J]中国农村经济2002.12 p68-72.
[77]王敏,顾丽娟.农村信贷市场供需矛盾、特点及对策分析[J]甘肃农业2004.7 p69.
[78]王叙果.我国农村金融市场的非均衡性分析[J]农业经济问题(月刊) 2005.2 p40-43.
[79]宋磊,李俊丽.农户信贷需求与农村金融市场非均衡态势的实证分析[J]农业经济问题(月刊) 2006.7 p55-61,80.
[80]田力,胡改导,王东方.中国农村金融融量问题研究[J]金融研究2004.3 p125-135.
[81]武翠芳,赵其有,王向东.我国农村资金供求缺口分析[J]金融理论与实践2007.5 p65-66.
[82]郭沛.中国农村非正规金融规模估算[J]中国农村观察2004.2 p21-25.
[83]杨莲娜.当前农村非正式金融的运行状况及发展前景[J]财经科学2005.4 p129-134.
[84]叶敬忠,朱炎洁,杨洪萍.社会学视角的农户金融需求与农村金融供给[J]中国农村经济2004.8 p31-37,43.
[85]温铁军.农户信用与民间借贷研究:农户信用与民间借贷课题主报告中经网50人论坛2001年6月7日.
[86]韩坚.农村金融组织的比较与重构[J]贵州社会科学2006.1 p15-17.
[87]王曙光.村庄信任、关系共同体与农村民间金融演进[J]中国农村观察2007.4 p75-79.
[88]刘民权,徐忠,俞建拖.信贷市场中的非正规金融[J]世界经济2003.7 p61-73,80.
[89]Spence. Job Market Signaling [J]. Quarterly of Economics, 1973(87): 355-429.
[90]Spence. Job Market Signaling [M]. Cambridge Mass: Harvard University Press, 1974.
[91]Schmalensee. A Model of Advertising and Product Quality [J]. Journal of Political Economy, 1978(86): 485-503.
[92]Rothschild. M and J. Stiglitz. Equilibrium in Competitive Insurance Market [J]. Quartely Journal of Economics, 1976(90):629-678.
[93]Chritopher NS. Negotiation and renegotiations of finance Contracts under the threat of predation [J]. The Journal of Industrial Economics, 1996(9): 325-343.
[94]Bambeng G, Spremann K. Implications of constant risk aversion [J]. Operations Research, 1981(25): 205-224.
[95]国外农村金融编写组.国外农村金融[M].成都:西南财经大学出版社1993年.
[96]白钦先,曲昭光著.各国政策性金融机构比较[M]北京:中国金融出版社,1993.
[97]何广文.德国金融制度研究[M]北京:中国社会保障出版社2000.9
[98]马忠富.国际农村合作金融发展经验及其启示[J]中国农村经济2001.5 p72-78.
[99]黄玉龙,谢榕华,李思维.我国农村金融组织体系的现状、缺陷以及国际经验借鉴[J]湖南社会科学2005.6 p101-104.
[100] [日]高木勇树日本的农民组织与农村金融[J]农业经济问题(月刊) 2006.12 p68-74.
[101]白广玉.印度农村金融体系和运行绩效评介[J]农业经济问题(月刊) 2005.11 p75-78.
[102] RBI: Report on Trend and Progress of Banking in India 2004~2005 [R]. June 30,2005.
[103]马忠富著,中国农村合作金融发展研究[M],中国金融出版社,2001.
[104]印度政府: 2001~2002年度经济调查[R].印度政府财政部经济处.2002.
[105]RakeshMohan: AgriculturalCredit in India: Status,Issues and Future Agenda [J]. Economic and PoliticalWeekly,New DelhiMarch 18-24,2006.
[106]张勇.孟加拉小额信贷模式的最新发展[J]中国农村经济2003.6 p67-72.
[107]何广文.中国农村金融转型与金融机构多元化[J]中国农村观察2004.2 p12-20.
[108]何广文.农村金融机构多元化的路径选择[J]中国改革2007.3 p34.
[109]杨荣.构建多元化的我国农村金融机构体系[J]金融与经济2005.7 p67-68.
[110]徐应红.民营资本:农村金融多元化的助推器[J]理论观察2005.5 p143-144.
[111]人民银行廊坊市中心支行课题组农村金融现状与多元化发展路径选择[J]华北金融2006.8 p49-51.
[112]蔡则祥.我国农村金融组织体系的完善与创新[J]农业经济问题2002.4 P22-28.
[113]李军峰,王健.基于产业寿命周期的农业优势产业选择研究[J]中国经济评论2007.4 p42-45,50.