政策性负担、预算软约束与大型涉农金融机构激励机制设计

本文应用多任务委托代理模型,分析政策性负担下大型涉农金融机构的预算软约束问题。通过求解政府和代理人(经营者)的动态均衡,提出分离政策性业务和商业性业务、明确商业性涉农金融业务不补贴政策、加强监督等措施,可有效激发代理人的努力程度。

Policy Burden, Soft Budget Constraints and the Design of Incentive Mechanism for Large-scale Agriculture-related Financial Institutions

This paper applies a Multi-task Principal-Agent model to analyze the soft budget constraint of the large-scale agriculture-related financial institutions which are operating under policy burdens.From achieving the dynamic balance between the government and agents, this paper proposes policy measures such as separation of policy-related business and commercial business, specifying the policy of no subsidy to commercial agriculture-related business, and strengthening supervision etc.All these measures will effectively activate the endeavors of agents.