Is There a Demand for Commercial Microfinance in Poor Areas—Based on the survey of farmers in Inner Mongolia Autonomous Region

Abstract

Abstract: This study empirically analyzes the demand for commercial microfinance in poor areas and its influencing factors by the survey data of 316 farmers in two poor counties of Inner Mongolia Autonomous Region. The results show that the demand rate of commercial microfinance in the sample area was 48.73%, farmers with different income and asset levels have different demand for commercial microfinance. The improvement of farmers' financial literacy level has a significant positive effect on both the demand and supply of commercial microfinance, and the insufficient supply of bank credit and private loans in poor areas provides room for development of commercial microfinance. The characteristics of commercial microfinance "large rate and small value" can meet the small capital needs of farmers in poor areas and ease their short-term financing difficulties. As an important supplement to traditional financial products in poor areas, commercial microfinance has potential poverty alleviation functions. The government should support the development of commercial microfinance institutions in poor areas through legal regulations and policy support.

Key words: commercial microfinance, demand, poor areas, high interest rates, financial literacy

CLC Number:

F832.479

HUANG Hui-chun, GUAN Ning-ning. Is There a Demand for Commercial Microfinance in Poor Areas—Based on the survey of farmers in Inner Mongolia Autonomous Region[J]. Journal of Guizhou University of Finance and Economics, 2021(01): 102-111.

References

[1] 杜晓山.中国农村小额信贷的实践尝试[J].中国农村经济,2014(8):12~19;30.
[2] 石俊志.小额信贷发展模式的国际比较及其对我国的启示[J].国际金融研究,2007(10):4~9.
[3] 汪三贵.中国小额信贷可持续发展的障碍和前景[J].农业经济问题,2000(12):18~20.
[4] 孙良顺,周孟亮.小额贷款公司的使命偏移及其有效治理-基于江浙两省相关统计数据[J].南通大学学报(社会科学版),2014(3):25~31.
[5] 熊德平.农村小额信贷:模式、经验与启示[J].财经理论与实践,2005(2):39~43.
[6] Varian H R.Monitoring Agents with Other Agents[J].Journal of Institutional and Theoretical Economics,1990(146):153~174.
[7] Wenner M D. Group Credit:A Means to Improve Information Transfer and Loan Repayment Performance[J]. The journal of development studies,1995(2):263~281.
[8] 程恩江,刘西川.小额信贷缓解农户正规信贷配给了吗?-来自三个非政府小额信贷项目区的经验证据[J].金融研究,2010(12):190~206.
[9] Petrick M A. Microeconometric Analysis of Credit Rationing in the Polish Farm Sector[J]. European Review of Agricultural Economics,2004(1):77~101.
[10] 温涛,朱炯,王小华.中国农贷的"精英俘获"机制:贫困县与非贫困县的分层比较[J].经济研究,2016(2):111~125.
[11] Mersland R, Strom R. Microfinance Mission Drift?[J]. World Development,2010(1):28~36.
[12] Beisland L A, D Espallier Bert, Mersland R. The Commercialization of the Microfinance Industry:Is There a "Personal Mission Drift" Among Credit Officers?[J]. Journal of Business Ethics,2019(1):119~134.
[13] Kon Y, Storey D J. A theory of discouraged borrowers[J]. Small Business Economics,2003(1):37~49.
[14] Morduch J. The Microfinance Promise[J]. Journal of Economic Literature,1999(4):1569~1614.
[15] 谢玉梅,徐玮,程恩江,等.精准扶贫与目标群小额信贷:基于协同创新视角的个案研究[J].农业经济问题,2016(9):79~88;111~112.
[16] 方松海,王为农,黄汉权.增加农民收入与扩大农村消费研究[J].管理世界,2011(5):66~80;187~188.
[17] 史清华,陈凯.欠发达地区农民借贷行为的实证分析-山西745户农民家庭的借贷行为的调查[J].农业经济问题,2002(10):29~35.
[18] Moore D., Survey of financial literacy in Washington state:knowledge, behavior, attitudes, and experiences[J]. Technical Report,2003:3~39.
[19] Chatterjee S., Borrowing Decisions of Credit Constrained Consumers and the Role of Financial Literacy[J]. Economics Bulletin,2013(1):179~191.
[20] Alhenawi Y, Elkhal K. Finance Literacy of U.S. Households:Knowledge vs. Long-Term Financial Planning[J]. Financial Services Review,2014(3):211~244.
[21] Akudugu A, Egyir M. Mensah B A. Women farmers'access to credit from rural banks in Ghana[J]. Agricultural Finance Review,2009(3):84~299.
[22] 尹志超,宋全云,吴雨,等.金融知识、创业决策和创业动机[J].管理世界,2015(1):87~98.
[23] Pak T Y. Financial Literacy and High-Cost Borrowing:Exploring the Mechanism[J]. International IJC,2018(6):283~294.
[24] 甘犁.来自中国家庭金融调查的收入差距研究[J].经济资料译丛,2013(4):41~57.
[25] 黄祖辉,刘西川,程恩江.中国农户的信贷需求:生产性抑或消费性-方法比较与实证分析[J].管理世界,2007(3):73~80.
[26] Kaiser H F., An Index of Factor Simplicity[J]. Psychometrika,1974(1):31~36.
[27] 王定祥,田庆刚,李伶俐,等.贫困型农户信贷需求与信贷行为实证研究[J].金融研究,2011(5):124~138.
[28] 殷浩栋,王瑜,汪三贵.贫困村互助资金与农户正规金融、非正规金融:替代还是互补?[J].金融研究,2018(5):120~136.
[29] Bucher-koenen T, Lusardi A. Financial Literacy and retirement planning in Germany[J]. Journal of Pension Economics&Finance,2011(4):565~584.
[30] 宋全云,吴雨,尹志超.金融知识视角下的家庭信贷行为研究[J].金融研究,2017(6):95~110.
[31] Ayele G T., Microfinance Institutions in Ethiopia, Kenya and Uganda:Loan Outreach to the Poor and the Quest for Financial Viability[J]. African Development Review,2015(2):117~129.
[32] Ikram U, Muhammad I K, Nasir I. Sustainability, market conditions and outreach:the vicious misconception of the win-win proposition in the microfinance industry[J]. Economic Research-Ekonomska Istraživanja,2019(1):2122~2137.