摘要
合作金融在国际上已经有一百多年的发展历史,是金融体系中不可或缺的组成部分。规模和数量的不断扩张充分证明了合作性金融的重要性,也证明了它的特殊性功能以及它所具有的独特性质——以成员为主的特性是其它金融形式所无法替代的。合作金融经历了不同的发展阶段,各国合作金融体系与机构的发展路径呈现出各不相同的特征。但是近几十年以来,合作性金融机构异化案例频繁出现,引起人们关注。合作金融发展路径有何特征,现实中存在几种典型路径选择,其未来发展路径如何,这些都是值得研究的内容。
我国合作金融体系规模虽称不上十分庞大,但机构类型复杂,有正处于改革进程中的城市和农村信用社体系,有民间自生的各种融资互助会,还有新型的合作银行和资金互助社,都在探索前进的方向。当前构筑农村金融三元供给结构也是很多学者及业界人士的主张,并且从世界范围看,合作金融也是农村金融的主体之一。合作金融具有稳定性功能,是商业金融的有力竞争者和补充者,它的发展直接关系到我国的农村经济发展、农村金融的深化程度和改进“二元经济”的进程。因此对于合作金融未来发展和路径选择问题的研究具有极其重要的现实意义。
本文在基本概念与文献梳理的基础上,归纳总结现有的路径选择,并进行比较分析,期望通过这一过程寻求合作金融发展路径选择中的规律性内容,以此为依据,探索未来发展路径,并据此对我国信用合作社体系改革方向、民间合作金融机构发展路径等问题进行探讨。文中对于合作金融相关的热点问题都有涉及,包括机构转型,体制异化,规模效应等。本文共分六个部分。
第一部分是对合作金融的理论综述和现实考察,首先梳理相关文献,从功能、机构和体系的发展路径等方面进行综述,之后分析合作金融的一般性和特殊性金融功能,最后从历史进程的角度分析合作金融的演进路径,并对合作金融发展现状的特征进行归纳介绍。
第二部分是在前文基础上探讨合作金融存在及路径变迁的理论基础,并且试图用经济学原理来阐释合作金融发展中出现的一些异化现象。本章包括合作金融存在的经济学解释,合作金融制度变迁的理论原因以及在现实发展中出现的非正常趋势的经济学解释,并且用合作金融机构治理机制自身存在的矛盾来解释机构发展路径变迁的现象。
第三部分与第四部分是对合作金融持续发展的路径进行列举与分析,有两种视角:其一是宏观角度,即从合作金融体系视角分析其持续发展的可行路径,并且选取世界上合作金融发展具有典型性特征的国家进行实际案例分析;其二是微观角度,即从合作金融机构视角分析其持续发展的可行路径,并以实际机构为例,分析各种路径的特征及效率等问题,并对各种路径加以比较和综合分析。
第五部分是在前两部分的基础上对于影响发展路径的因素进行分析,推导出合作金融发展路径演进的规律,探讨合作金融发展路径选择过程中的影响因素。在此基础上,本文对于对合作金融未来的发展路径做出推断与分析,认为合作金融未来的发展路径是多样化的,并且在发展中会与商业化经营有更好地结合模式。
第六部分对我国的合作金融发展路径进行分析,并提出政策建议。在前文基础上探讨我国合作金融发展路径的历史与现状,及其存在的问题。之后本文提出以混合式路径构造我国合作金融体系的建议,并且认为合作金融机构的发展路径应当是多样化的,农村信用社与民间互助金融机构的发展路径不同,应以提高效率和满足内生需求为目标。
中外学者对于合作金融的研究由来已久,著述颇丰,但以合作金融发展路径作为研究对象是本文一项最重要的创新。从宏观和微观两种视角来考察与分析合作金融的发展路径,这是研究合作金融的一个新视角。合作金融未来的发展路径如何选择一直是困扰理论界和实务界的一大焦点问题。这一方面的理论研究尚未形成体系,仍然缺乏完善的论述、深入的探讨与成形的理论。本文以合作金融的发展路径为主线,归纳与分析现实存在的既定事实,同时也做出规律性总结,更大胆提出未来发展路径的构想,具有相当高的理论和现实意义。
Cooperative finance has existed for more than 100 years in the world and has been an indispensable portion in financial system. The increase in size and numbers suggests the significance of cooperative finance, its functions, and its unique characteristic that makes them different from both banks and thrifts, that is, keeping the customer-oriented business model. Cooperative financial system and institutions have experienced different historical development phases, with various development paths and various characteristics. In recent decades, cooperative financial institutions dissimilation cases occurred frequently, which caused great concern. What characteristics of different development paths, how many typical paths in reality, where the future development path, are worth studying.
Although our cooperative finance system is not very huge, the organizations are complicated, including urban and rural credit cooperative system in course of reforming, all kinds of mutual financing societies, and new-styled cooperative banks and capital cooperative societies, all in the way of exploring forward. Recently many economists and practitioners insist to construct“ternary structure”rural financial system. And cooperative finance plays an important role in many countries of the world. Cooperative financial institutions contribute to the competitiveness, supplement and stability of the banking industry,so it’s vital to develop cooperative finance in China for rural economy and rural financial deepening and“dual economic structure”transition. The research on cooperative finance’s development direction and development path has so much realistic significance.
Therefore, on the basis of basic concepts and literature review, this dissertation summarizes existing development paths, and carries on comparative analysis, in order to seek some regular rules of development paths choice. And accordingly, exploring development paths, then the dissertation’s final aim is to put forward some proposals on the reform direction of China’s credit union system in the future and the development path of nongovernmental cooperative financial institutions. In this thesis, some hot issues on cooperative finance will be involved, such as organization reform, system dissimilation, and scale effect. It is divided into six parts.
Part I is literature review and reality inspection on cooperative finance. First combs through the related literatures on cooperative finance’s function and development paths of organization and system, afterward analyzes the cooperative finance’s common function and particular financial function, finally from historic course’s angle analyzes cooperative finance’s evolution path, and introduce its present situation and characteristics.
Part II is about the theoretical basis of cooperative finance and its paths transition, especially including the economics explanations about normal and abnormal development trends. This chapter includes economics explanations on cooperative finance, the theoretical reasons on cooperative Institutional Change and dissimilation trend, and explanations on the institutions’path transition with its inherent conflicts in its corporate governance.
Part III and Part IV enumerate and analyze cooperative finance’s development paths, from two angles: macro-analysis is from the perspective of cooperative financial system to analyze its sustainable development paths, with some typical countries cases as strong arguments; micro-analysis is from the perspective of cooperative financial institutions to discuss their development paths, and takes the actual organizations as examples, analyzes various paths’characteristics and efficiency, and compares them comprehensively.
Part V, on the basis of the previous two sections, analyzes factors affecting development paths, then concludes its evolution laws, and infers the cooperative finance’s development path in the future. This dissertation concludes that the development paths would be more multiple and cooperative principles would be better to combine with commercial model in the future.
Part VI carries on the analysis on our cooperative finance’s development paths and put forth the policy proposal. This section firstly introduces historical and present development paths of our cooperative finance, and discusses problems about it. This dissertation suggests to construct our cooperative financial system with composite path and to develop coopertative institutions with diversified paths. The rural credit cooperatives and nongovernment mutual financial organizations should take different paths in order to improve efficiency and meet endogenous requirement.
Since the appearance of cooperative institution, the researches on it have accumulated a lot by foreign and domestic scholars. But this dissertation chooses development path of cooperative finance as an innovation of contents. And to carry out both macro-analysis and micro-analysis on cooperative finance’s development path is a new angle. How to choose the future development path of cooperative finance has puzzled economists and practitioners extremely. The theoretical study on it has not been formed a complete system, and remains to be discussed and researched deeply. This thesis, taking development path of cooperative finance as the mainline, summaries and analyzes developing process of cooperative finance, and also works out the regularity in it, and proposes boldly the future development path, with considerable theoretical and practical significance.
引文
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