信任半径、声誉效应与民间金融组织的演化和发展

作为一种非正式制度安排，基于重复博弈和关联博弈的声誉机制对于民间金融组织的存在和发展起着重要作用，但这种作用仅限于特定的信任半径内。随着信任半径的不断扩展，民间金融组织实现由低级向高级演化。然而，民间金融组织和正规金融组织有各自特定的信任半径，通过正规金融来收编民间金融的做法是不可取的，政府应积极引导民间金融组织的发展，使其合法化并通过合理的制度安排实现民间金融组织的变迁。

Radius of Trust,Reputation Effect and Development of Non-governmental Financial Organization

As a non-systematical arrangement,reputation effect based on repeated game and correlated game plays an important role in the development of non- governmental financial organization,which is restricted in certain radius of trust. With the development of radius of trust,low-end non-governmental financial organization has evolved into high-end level. However, governmental financial organization and non-governmental financial organization have different radius of trust.It is unwise to change the ownership of t...