CAJ | 학술논문

本文依据Stiglitz＆Weiss的信贷配给理论，构建了在利率市场化条件下信贷配给影响农业信贷配置效率的分析框架，采用Markov区制转换向量自回归模型揭示了金融加速器效应下，农业信贷配给导致信贷配置效率区间状态转换的特征。研究结果表明：我国农业信贷需要根据经济所处区间采取差异化的利率政策，并通过信贷与保险互联机制分担信贷风险、降低信贷利率，这有利于改善农户信贷配给，提高农业信贷配置效率。
본문의거Stiglitz＆Weiss적신대배급이론，구건료재리솔시장화조건하신대배급영향농업신대배치효솔적분석광가，채용Markov구제전환향량자회귀모형게시료금융가속기효응하，농업신대배급도치신대배치효솔구간상태전환적특정。연구결과표명：아국농업신대수요근거경제소처구간채취차이화적리솔정책，병통과신대여보험호련궤제분담신대풍험、강저신대리솔，저유리우개선농호신대배급，제고농업신대배치효솔。
This paper starting from Stiglitz ＆ Weiss credit rationing theory, builds the analysis framework of credit rationing affecting the allocation of agricultural credit efficiency. Based on Markov regime switching vector autoregressive model, the study shows that under the financial accelerator effect of interest rate liberalization, the agricultural credit rationing could result in the regime switching features of credit allocation efficiency. Thus it＇s necessary to employ the different interest rate policy according to the economy regime status, and introduce the inter - linked credit and insurance program to diversify the credit risk, when pursuing the goal of reducing the interest rate of agricultural credit, improving farmer＇s credit rationing, and ultimately enhancing the agricultural credit allocation efficiency.