农村中小金融机构X 效率 影响因素研究* ——基于浙江省的数据

本文从内、外两个方面探讨影响农村中小金融机构X 效率的因素，并构建了分析农村中小金融机构X 效率影响因素的基本回归模型。笔者选择自由分布法（DFA）等方法来测度金融机构的效率，并选用普通的最小二乘法估计方程，利用2010-2012年浙江省的调研数据来进行实证研究。研究表明，具有较大市场份额、贷款主动性较高的金融机构X 效率也较高。同时，所处区域的经济增长以及金融市场发展程度也具有正向促进作用。但市场集中程度过高则会抑制农村中小金融机构X 效率的提高，因此需要采取措施鼓励市场竞争，以防患于未然。另外，经济增长与金融市场发展对农村中小金融机构X 效率具有负面的交叉效应，因此在推进中小金融机构的发展过程中，需要区别对待不同发展程度的区域。

STUDY ON X-EFFICIENCY OF RURAL SMALL AND MEDIUM-SIZED FINANCIAL INSTITUTIONS——Based on the Data of Zhejiang Province

This paper discusses the factors that influence X efficiency of rural small and medium sized financial institutions (RSMFI) from inside and outside aspects and builds the basic regression modelThis paper selects the DFA and other ways to measure the efficiency of financial institutionsThe empirical study is based on the survey data of 2010-2012 years from Zhejiang province and using the least squares estimation equationThe research shows that the financial institution that has a large market share and high initiative of loan also has high X efficiencyAt the same time，the regional economic growth and the degree of financial market development also have positive rolesBut the market concentration degree will inhibit the improvement of X efficiency of the RSMFI if it is too highSo it should take measures to encourage competition in the marketIn addition，the growth of economic and the development of financial market have negative cross effects on X efficiency of RSMFI，which should be treated differently at different areas in the process of small and medium sized financial institutions