The Income Effect of Rural Informal Financial Development in China——An Empirical Research Based on Panel Data of Eastern,Central and Western Regions
SU Jing1.2 ,HU Zong-yi1,ZHU Qiang2
1.College of Finance and Statistics,Hunan University,Changsha 410079,China;2.Department of Economics ＆ Management,Hunan University of Arts and Science,Changde 415000,China
Abstract Based on the regional panel data from 1986 to 2010,this paper investigates the income effect of rural informal financial development in China. The results show that: China’s rural informal financial development promotes the growth of farmers' income significantly. The efficiency of informal financial scale on increasing farmers' income is generally higher than that of the formal finance. These effects are significantly different in different regions and at different time. The development of the informal finance returns higher for low-income,while formal finance’s development is more favorable to high-income earners. Based on this,some suggestions are put forward about rural informal financial development and deepening reform of rural financial.
SU Jing,HU Zong-Xi,SHU Jiang. The Income Effect of Rural Informal Financial Development in China——An Empirical Research Based on Panel Data of Eastern,Central and Western Regions. Economic Survey, 2013, 1(3): 031.
2013, Vol. 1 
