农村金融外文翻译文献综述

中国农村金融发展的现状的英语参考文献1. Liu, Y., & Sun, L. (2017). Rural financial development in China: A study on its macroeconomic and institutional determinants. China Economic Review, 44, 343-356.2. Zhang, C., & Xu, X. (2018). The development of rural finance in China: Current status and future perspectives. Journal of Chinese Economic and Business Studies, 16(4), 377-392.3. Xu, H., & Yang, X. (2019). The role of microfinance in promoting rural financial development in China. China Agricultural Economic Review, 11(2), 280-298.4. Ma, X., & Zhang, Z. (2020). Rural finance and poverty alleviation in China: A review of policies and practices. China Agricultural Economic Review, 12(2), 298-315.5. Guo, D., & Huang, Q. (2021). The impact of financial inclusion on rural development in China. Journal of Asian Economics, 77, 101100.中国农村金融发展的现状已经吸引了许多学者的关注。

农村金融发展外文文献农村金融一直是中国经济发展中的一个重要领域。

随着农村经济的不断发展和城乡差距的缩小，农村金融也逐渐成为各界关注的焦点。

本文将结合国外相关文献，探讨农村金融发展的一些主要问题和挑战。

首先，农村金融发展面临的主要问题之一是金融机构的不足。

在许多农村地区，金融机构的覆盖率仍然较低，导致农民难以获得贷款和其他金融服务。

一些研究表明，缺乏金融机构的支持是农村经济发展的一个重要制约因素，需要政府和相关部门采取措施加以解决。

其次，农村金融发展还存在着金融产品和服务的不足。

传统的金融机构往往只提供简单的储蓄和贷款服务，无法满足农民多样化的金融需求。

因此，需要不断创新金融产品和服务，为农民提供更加全面和便利的金融支持。

另外，农村金融发展还需要加强金融知识普及和教育。

许多农民缺乏金融知识，不了解金融产品和服务的作用和风险，容易受到不法分子的欺诈和误导。

因此，应该加大对农民金融知识的培训和普及力度，提高他们金融风险意识和金融管理能力。

此外，农村金融发展还需要加强金融监管和风险控制。

近年来，一些农村金融机构存在违规经营和风险隐患，给农民的财产安全带来了一定的威胁。

因此，有关部门应该加强对农村金融机构的监管和监督，及时发现和处理金融风险，保障农民的合法权益。

综上所述，农村金融发展是一个复杂而严峻的系统工程，需要政府、金融机构和社会各界的共同努力。

只有通过加强金融机构建设、创新金融产品和服务、加强金融知识普及和加强金融监管等措施，才能实现农村金融的可持续发展，为农民提供更好的金融支持和服务。

希望通过本文的探讨和分析，能够引起更多人对农村金融发展的关注和重视，推动农村金融事业取得更大的进步和发展。

金融体系中英文对照外文翻译文献(文档含英文原文和中文翻译)Comparative Financial Systems1 What is a Financial System?The purpose of a financial system is to channel funds from agents with surpluses to agents with deficits. In the traditional literature there have be en two approaches to analyzing this process. The first is to consider how agents interact through financial markets. The second looks at the operation offinancial intermediaries such as banks and insurance companies. Fifty years ago, the financial system co uld be neatly bifurcated in this way. Rich house-holds and large firms used the equity and bond markets,while less wealthy house-holds and medium and small firms used banks, insurance companies and other financial institutions. Table 1, for example, shows the ownership of corporate equities in 1950. Households owned over 90 percent. By 2000 it can be seen that the situation had changed dramatically.By then households held less than 40 percent, nonbank intermediaries, primarily pension funds and mutual funds, held over 40 percent. This change illustrates why it is no longer possible to consider the role of financial markets and financial institutions separately. Rather than intermediating directly between households and firms, financial institutions have increasingly come to intermediate between households and markets, on the one hand, and between firms and markets,on the other. This makes it necessary to consider the financial system as anirreducible whole.The notion that a financial system transfers resources between households and firms is, of course, a simplification. Governments usually play a significant role in the financial system. They are major borrowers, particularlyduring times of war, recession, or when large infrastructure projects are being undertaken. They sometimes also save significant amounts of funds. For example, when countries such as Norway and many Middle Eastern States have access to large amounts of natural resources (oil), the government may acquire large trust funds on behalf of the population.In addition to their roles as borrowers or savers, governments usually playa number of other important roles. Central banks typically issue fiat money and are extensively involved in the payments system. Financial systems with unregulated markets and intermediaries, such as the US in the late nineteenth century, often experience financial crises.The desire to eliminate these crises led many governments to intervene in a significant way in the financial system. Central banks or some other regulatory authority are charged with regulating the banking system and other intermediaries, such as insurance companies. So in most countries governments play an important role in the operation of financialsystems. This intervention means that the political system, which determines the government and its policies, is also relevant for the financial system.There are some historical instances where financial markets and institutions have operated in the absence of a well-defined legal system, relyinginstead on reputation and other im plicit mechanisms. However, in most financial systems the law plays an important role. It determines what kinds ofcontracts are feasible, what kinds of governance mechanisms can be used for corporations, the restrictions that can be placed on securities and so forth. Hence, the legal system is an important component of a financial system.A financial system is much more than all of this, however. An important pre-requisite of the ability to write contracts and enforce rights of various kinds is a system of accounting. In addition to allowing contracts to be written, an accounting system allows investors to value a company more easily and to assess how much it would be prudent to lend to it. Accounting information is only one type of information (albeit the most important) required by financial systems. The incentives to generate and disseminate information are crucial features of a financial system.Without significant amounts of human capital it will not be possible for any of these components of a financial system to operate effectively. Well-trained lawyers, accountants and financial professionals such as bankers are crucial for an effective financial system, as the experience of Eastern Europe demonstrates.The literature on comparative financial systems is at an early stage. Our survey builds on previous overviews by Allen (1993), Allen and Gale (1995) and Thakor (1996). These overviews have focused on two sets of issues.(1)Normative: How effective are different types of financial system atvarious functions?(2) Positive: What drives the evolution of the financial system?The first set of issues is considered in Sections 2-6, which focus on issues of investment and saving, growth, risk sharing, information provision and corporate governance, respectively. Section 7 consider s the influence of law and politics on the financial system while Section 8 looks at the role financial crises have had in shaping the financial system. Section 9 contains concludingremarks.2 Investment and SavingOne of the primary purposes of the financial system is to allow savings to be invested in firms. In a series of important papers, Mayer (1988, 1990) documents how firms obtained funds and financed investment in a number of different countries. Table 2 shows the results from the most recent set of studies, based on data from 1970-1989, using Mayer’s methodology. The figures use data obtained from sources-and-uses-of-funds statements. For France, the data are from Bertero (1994), while for the US, UK, Japan and Germany they are from Corbett and Jenkinson (1996). It can be seen that internal finance is by far the most important source of funds in all countries.Bank finance is moderately important in most countries and particularly important in Japan and France. Bond finance is only important in the US and equity finance is either unimportant or negative (i.e., shares are being repurchased in aggregate) in all countries. Mayer’s studies and those using his methodology have had an important impact because they have raised the question of how important financial marke ts are in terms of providing funds for investment. It seems that, at least in the aggregate, equity markets are unimportant while bond markets are important only in the US. These findings contrast strongly with theemphasis on equity and bond markets in the traditional finance literature. Bank finance is important in all countries,but not as important as internal finance.Another perspective on how the financial system operates is obtained by looking at savings and the holding of financial assets. Table 3 shows t he relative importance of banks and markets in the US, UK, Japan, France and Germany. It can be seen that the US is at one extreme and Germany at the other. In the US, banks are relatively unimportant: the ratio of assets to GDP is only 53%, about a third the German ratio of 152%. On the other hand, the US ratio of equity market capitalization to GDP is 82%, three times the German ratio of 24%. Japan and the UK are interesting intermediate cases where banks and markets are both important. In France, banks are important and markets less so. The US and UK are often referred to as market-based systems while Germany, Japan and France are often referred to as bank-based systems. Table 4 shows the total portfolio allocation of assets ultimately owned by the household sector. In the US and UK, equity is a much more important component of household assets than in Japan,Germany and France. For cash and cash equivalents (which includes bank accounts), the reverse is true. Tables 3 and 4 provide an interesting contrast to Table 2. One would expect that, in the long run, household portfolios would reflect the financing patterns of firms. Since internal finance accrues to equity holders, one might expect that equity would be much more important in Japan, France and Germany. There are, of course, differences in the data sets underlying the different tables. For example, household portfolios consist of financial assets and exclude privately held firms, whereas the sources-and-uses-of-funds data include all firms. Nevertheless, it seem s unlikely that these differences could cause such huge discrepancies. It is puzzling that these different ways of viewing the financial system produce such radically different results.Another puzzle concerning internal versus external finance is the difference between the developed world and emerging countries. Although it is true for the US, UK, Japan, France, Germany and for most other developed countries that internal finance dominates external finance, this is not the case for emerging countries. Singh and Hamid (1992) and Singh (1995) show that, for a range of emerging economies, external finance is more important than internal finance. Moreover, equity is the most important financing instrument and dominates debt. This difference between the industrialized nations and the emerging countries has so far received little attention. There is a large theoretical literature on the operation of and rationale for internal capital markets. Internal capital markets differ from external capital markets because of asymmetric information, investment incentives, asset specificity, control rights, transaction costs or incomplete markets There has also been considerable debate on the relationship between liquidity and investment (see, for example, Fazzari, Hubbard and Petersen(1988), Hoshi, Kashyap and Scharfstein (1991))that the lender will not carry out the threat in practice, the incentive effect disappears. Although the lender’s behavior is now ex post optimal, both parties may be worse off ex ante.The time inconsistency of commitments that are optimal ex ante and suboptimal ex post is typical in contracting problems. The contract commits one to certain courses of action in order to influence the behavior of the other party. Then once that party’s behavior has been determined, the benefit of the commitment disappears and there is now an incentive to depart from it.Whatever agreements have been entered into are subject to revision because both parties can typically be made better offby “renegotiating” the original agreement. The possibility of renegotiation puts additional restrictions on the kind of contract or agreement that is feasible (we are referring here to the contract or agreement as executed, ratherthan the contract as originally written or conceived) and, to that extent, tends to reduce the welfare of both parties ex ante. Anything that gives the parties a greater power to commit themselves to the terms of the contract will, conversely, be welfare-enhancing.Dewatripont and Maskin (1995) (included as a chapter in this section) have suggested that financial markets have an advantage over financial intermediaries in maintaining commitments to refuse further funding. If the firm obtains its funding from the bond market, th en, in the event that it needs additional investment, it will have to go back to the bond market. Because the bonds are widely held, however, the firm will find it difficult to renegotiate with the bond holders. Apart from the transaction costs involved in negotiating with a large number of bond holders, there is a free-rider problem. Each bond holder would like to maintain his original claim over the returns to the project, while allowing the others to renegotiate their claims in order to finance the additional investment. The free-rider problem, which is often thought of as the curse of cooperative enterprises, turns out to be a virtue in disguise when it comes to maintaining commitments.From a theoretical point of view, there are many ways of maintaining a commitment. Financial institutions may develop a valuable reputation for maintaining commitments. In any one case, it is worth incurring the small cost of a sub-optimal action in order to maintain the value of the reputation. Incomplete information about the borrower’s type may lead to a similar outcome. If default causes the institution to change its beliefs about the defaulter’s type, then it may be optimal to refuse to deal with a firm after it has defaulted. Institutional strategies such as delegating decisions to agents who are given no discretion to renegotiate may also be an effective commitment device.Several authors have argued that, under certain circumstances, renegotiation is welfare-improving. In that case, the Dewatripont-Maskin argument is turned on its head. Intermediaries that establish long-term relationships with clients may have an advantage over financial markets precisely because it is easier for them to renegotiate contracts.The crucial assumption is that contracts are incomplete. Because of the high transaction costs of writing complete contracts, some potentially Pareto-improving contingencies are left out of contracts and securities. This incompleteness of contracts may make renegotiation desirable. The missing contingencies can be replaced by contract adjustments that are negotiated by the parties ex post, after they observe the realization of variables on which the contingencies would have been based. The incomplete contract determines the status quo for the ex post bargaining game (i.e., renegotiation)that determines the final outcome.An import ant question in this whole area is “How important are these relationships empirically?” Here there does not seem to be a lot of evidence.As far as the importance of renegotiation in the sense of Dewatripont and Maskin (1995), the work of Asquith, Gertner and Scharfstein (1994) suggests that little renegotiation occurs in the case of financially distressed firms.Conventional wisdom holds that banks are so well secured that they can and do “pull the plug” as soon as a borrower becomes distressed, leaving theunsecured creditors and other claimants holding the bag.Petersen and Rajan (1994) suggest that firms that have a longer relationship with a bank do have greater access to credit, controlling for a number of features of the borrowers’ history. It is not clea r from their work exactly what lies behind the value of the relationship. For example, the increased access to credit could be an incentive device or it could be the result ofgreater information or the relationship itself could make the borrower more credit worthy. Berger and Udell (1992) find that banks smooth loan rates in response to interest rate shocks. Petersen and Rajan (1995) and Berlin and Mester (1997) find that smoothing occurs as a firm’s credit risk changes.Berlin and Mester (1998) find that loan rate smoothing is associated with lower bank profits. They argue that this suggests the smoothing does not arise as part of an optimal relationship.This section has pointed to a number of issues for future research.• What is the relationship between th e sources of funds for investment,as revealed by Mayer (1988, 1990), and the portfolio choices of investorsand institutions? The answer to this question may shed some light onthe relative importance of external and internal finance.• Why are financing patterns so different in developing and developedeconomies?• What is the empirical importance of long-term relationships? Is renegotiationimportant is it a good thing or a bad thing?• Do long-term relationships constitute an important advantage of bankbasedsystems over market-based systems?金融体系的比较1、什么是金融体系？一个金融系统的目的（作用）是将资金从盈余者（机构）向短缺者（机构）转移（输送）。

农村互联网金融发展问题研究国内外文献综述1.国外研究现状Economides N. C. Himmelberg（2014）认为，互联网金融是建立在传统金融业务基础上的新兴业务。

以传统业务为切入点有助于顺利提升互联网金融的发展水平，夯实互联网金融的发展基础，促进互联网金融快速步入到良性的发展轨道[5]。

Kirsty Best （2015）的研究表明，2002年联合国贸易和发展会议为发展中国家建构网络金融提供了广泛的认知，其建构了覆盖发展中国家的互联网金融发展条件和发展形势，这也是本文研究中对于互联网金融类别进行划分的重要依据[6]。

其认为，互联网金融涵盖电子银行、电子支付、电子贸易、网络借贷等不同领域，其总体发展规模是互联网金融的体量。

Andrew Crockett （2017）针对互联网金融的概况进行了研究。

其认为，物理网点应将支付结算功能过渡为营销服务，推动业务转型，将用户体验管理和交易成本控制作为提高互联网金融发展水平的重要措施[7]。

同时，应当优化远程协助业务的发展，提高互联网金融发展的硬件建设水平。

Chester Brown（2017）认为，互联网金融发展的背景下，应当结合互联网金融的发展特征和产业特点，积极引进人才，提高人才的储备水平，重视互联网金融的特征，提高互联网金融各主体对人才的吸纳水平，完善人才的知识结构，推动互联网金融人才具有扎实的业务功底和理论功底，使得人才兼备金融实操经验和互联网意识，提升互联网金融的发展水平[8]。

Muneer M.Abbad （2016）《约旦网上银行》中认为，农村金融机构应当有效协调传统支付模式与购买模式和当前技术环境和需求环境之间的鸿沟。

推动技术的高速发展，并将信息化的发展经验建构成量化的风险管理模型，提高对于客户信息的管理水平，建立客户潜力管理机制，提高对客户潜力的挖掘水平。

2.国内研究现状第一，农村互联网金融研究方面。

姜颖（2016）针对农村互联网金融工具进行了研究，将农村金融工具划分为投资、储蓄、信贷、结算、证券买卖、商业保险等类别的基础上，诠释了农村金融工具的功能。

关于农村经济外国文献文章题目：探究农村经济发展——外国文献综述引言：农村经济作为国家经济发展的重要组成部分，一直以来备受关注。

为了更好的探寻农村经济的现状与发展，本文将从国外文献的角度出发，综述当前农村经济的研究现状和趋势。

一、农村经济的研究现状1. 农村的现实问题Gustavo Anríquez和Kostas Stamoulis的文献《农村变革和扶贫：政策设计，实施和评估的主要考虑因素》指出，目前全球农村地区存在许多问题，包括贫困、低收入、半失业、低技能和优惠政策不透明等等，对农村经济的发展造成了极大的阻碍。

2. 农村经济的主要产业Andrew Schmitz和Robert Dinterman的文献《农村经济发展的主要产业》指出，种植业、畜牧业和林业是农村经济中的主要产业。

其中，种植业是农村经济的核心产业，但畜牧业和林业的发展也在不断加速。

二、农村经济的发展趋势1. 农村创业的发展FL Liu在《中国农村创业文化研究》中指出，在当前经济形势下，建设“双创”示范基地是当前实施乡村振兴战略的必然趋势。

同时，农村创业也有望在未来得到更好的发展。

2. 农村电子商务Cuihua Shen在《如何推动农村电子商务发展？——基于国际比较》中认为，目前，全球很多国家都在积极推动农村电子商务的发展。

这项技术不仅可以扩大销售范围，还可以加强农村经济和城市经济的联系，并在适当的时候调节物价。

结论：本文通过对国外文献的综述，呈现出当前农村经济的研究现状和发展趋势。

文章指出，农村经济在发展过程中面临许多困难，但应在政策层面加强管理，促进“双创”等多种方式，积极推动农村经济的发展。

外文翻译The Main Problems and Countermeasures of China’s Rural Financial System中国的农村金融体系中存在的问题原文来源：ZHAO YI The Main Problems and Countermeasures of China’s Rural Financial System The Chinese Economy, vol. 39, no. 2, March–April 2006, pp. 57–70.•不明确的功能定位在目前的农村金融体系改革的基本问题在于，金融机构的功能定位却很不明确。

杨亚明，中国农业银行的总裁，他认为目前在农村金融体系中有三个的主要组成部分。

有些含糊不清的功能定位和这三个机构重叠存在。

农业银行主要的业务是支持农业产业化经营，小城镇建设和贷款，以帮助贫穷的人。

贷款显示，农业银行的操作是没有完全商业化，也有一些金融性政策的款。

这些农村信用社和农业银行的服务目标和服务类型有一些重叠。

在中国，农村金融专家何广文，郭晓丽也有类似的看法。

为什么金融体系改革是不是非常有效的，功能定位的暧昧是最主要的原因，下面进一步对模糊的功能进行讨论。

首先，关于农村融资有一个模糊的定位功能，。

中国应该如何发展合作金融仍然是一个争论的话题。

中国共产党（CCP）经济领导小组财务科办公室研究员唐人间指出：“这的确是一个头痛的，很难用几句话解释。

大多数高校的农业专家认为这是一个问题，不能简单地避免。

“这肯定显示了中国在发展农民专业合作社的困境。

许多学者在理论界坚持认为，应充分开发农村合作金融规范化和标准化，因为它是一种重要的组织和对农村金融的运作形式。

第二，财政农业政策性和商业性金融之间有一个不明确的业务范围。

1994年，农业中国开发银行的成立，强调分离的COM-商用金融，政策性金融。

这个问题不能得到很快解决，因为第一个商业性金融机构仍然承担一些政策性贷款。

农村金融小额信贷中英文对照外文翻译文献(文档含英文原文和中文翻译)RURAL FINANCE: MAINSTREAMING INFORMAL FINANCIAL INSTITUTIONSBy Hans Dieter SeibelAbstractInformal financial institutions (IFIs), among them the ubiquitous rotating savings and credit associations, are of ancient origin. Owned and self-managed by local people, poor and non-poor, they are self-help organizations which mobilize their own resources, cover their costs and finance their growth from their profits. With the expansion of the money economy, they have spread into new areas and grown in numbers, size and diversity; but ultimately, most have remained restricted in size, outreach and duration. Are they best left alone, or should they be helped to upgradetheir operations and be integrated into the wider financial market? Under conducive policy conditions, some have spontaneously taken the opportunity of evolving into semiformal or formal microfinance institutions (MFIs). This has usually yielded great benefits in terms of financial deepening, sustainability and outreach. Donors may build on these indigenous foundations and provide support for various options of institutional development, among them: incentives-driven mainstreaming through networking; encouraging the establishment of new IFIs in areas devoid of financial services; linking IFIs/MFIs to banks; strengthening Non-Governmental Organizations (NGOs) as promoters of good practices; and, in a nonrepressive policy environment, promoting appropriate legal forms, prudential regulation and delegated supervision. Key words: Microfinance, microcredit, microsavings。

农村金融发展外文文献农村金融是指在农村地区开展金融活动，为农村居民和农业经营者提供金融服务的过程。

随着我国农村经济的快速发展，农村金融发展也日益受到重视。

本文将通过对国外相关文献的梳理和分析，探讨农村金融发展的一些经验和启示。

首先，农村金融的发展对于农村经济的稳定和可持续发展具有重要意义。

国外研究表明，发展农村金融可以促进农村经济结构调整，提高农民的收入水平，改善农村居民的生活质量。

同时，农村金融还可以帮助农民规避风险，提高农业生产的效率和质量，推动农村产业的升级和转型。

其次，国外一些国家和地区在农村金融发展方面已经取得了一些成功的经验。

例如，印度通过建立农村合作社和金融服务机构，为农民提供贷款、储蓄等金融服务，取得了一定的成效。

美国通过设立农村信贷机构和农村信用合作社，推动了农村经济的发展和壮大。

这些国家和地区的成功案例为我国农村金融的发展提供了有益的借鉴和参考。

另外，农村金融发展还需要政府、金融机构和农民共同努力。

政府在政策制定和监管方面发挥着重要作用，需要出台支持农村金融发展的政策措施，营造良好的金融环境。

金融机构需要创新金融产品和服务，满足农民的金融需求，降低农村金融风险。

农民也需要增强金融意识，积极参与金融活动，提高自身金融素养。

最后，农村金融发展还需要加强国际合作和交流。

国际社会在农村金融领域有着丰富的经验和资源，我国可以通过与国际组织和国外机构合作，引进先进的农村金融理念和技术，加快我国农村金融的发展步伐。

综上所述，农村金融的发展是一个综合性、系统性的工程，需要政府、金融机构和农民共同努力，借鉴国外的成功经验，加强国际合作和交流，推动我国农村金融的蓬勃发展。

希望通过本文的探讨，能够为我国农村金融的发展提供一些启示和帮助。

U NDERSTANDING I NTERNATIONAL T RADE INA GRICULTURAL P RODUCTS:O NE H UNDRED Y EARS OFC ONTRIBUTIONS BY A GRICULTURAL E CONOMISTST IM J OSLING,K YM A NDERSON,A NDREW S CHMITZ,AND S TEFAN T ANGERMANNThe study of international trade in agricultural products has developed rapidly over the pastfifty years.In the1960s the disarray in world agriculture caused by domestic price support policies became thefocus of analytical studies.There followed attempts to measure the distortions caused by policies alsoin developing countries and to model their impact on world agricultural markets.Tools were advancedto explain the trends and variations in world prices and the implications of market imperfections.Challenges for the future include analyzing trade based on consumer preferences for certain productionmethods and understanding the impact of climate change mitigation and adaptation on trade.Key words:agricultural trade;commodity prices;trade policy;agricultural trade distortions;measure-ment of agricultural protection;modeling agricultural trade.JEL Codes:F13,F55,Q17.The study of the economics of international trade in agricultural and food products is a rela-tively new area of specialization in the agricul-tural economics profession.Certainly the three mainstream areas that dominated thefirstfifty years of the American Agricultural Economics Association(AAEA)—production economics, marketing,and policy—each acknowledged the existence of international trade,but they largely ignored the analytical challenge of understanding the behavior of international markets and their role in resource-use effi-ciency and income distribution.By contrast, most agricultural economists trained since the1960s have been exposed to interna-tional trade theory and recognize the per-Tim Josling is Professor Emeritus,Food Research Institute,and Senior Fellow,Freeman Spogli Institute of International Studies, Stanford University.Kym Anderson is the George Gollin Professor of Economics and former executive director of the Centre for International Economic Studies at the University of Adelaide; Andrew Schmitz is the Ben Hill Griffin,Jr.Eminent Scholar and a professor of Food and Resource Economics,University of Florida,Gainesville;a research professor,University of California, Berkeley;and an adjunct professor,University of Saskatchewan, Saskatoon.Stefan Tangermann is Professor Emeritus,University of Göttingen and former Director for Trade and Agriculture at OECD.We would like to thank the many members of the Inter-national Agricultural Trade Research Consortium(IATRC)who responded to an informal poll on the most influential writings in agricultural trade in their experience.vasive influence of international economic events on domestic markets and policies. Trade agreements have evolved to where they constrain domestic policy,and interna-tional commodity prices are usually trans-mitted at least to some extent back to the farm level.Even the“newer”areas of agri-cultural and applied economics,such as envi-ronmental and resource economics,develop-ment economics,and consumer economics,are influenced by the institutions of international trade.This review aims to document the growth of the study of international agricultural mar-kets and institutions by identifying some of the main contributions of the profession to our understanding of the key issues.It is a subjective assessment of the development of professional thinking on several of the main areas where contributions have been made to the understanding of the nature of inter-national trade in agriculture and food com-modities.Each of these advances illustrates the cumulative contributions made by economists working in universities and research agen-cies of national and international institu-tions.We apologize at the outset to the many whose work we have not been able to mention.Amer.J.Agr.Econ.92(2):424–446;doi:10.1093/ajae/aaq011Received December2009;accepted January2010©The Author(2010).Published by Oxford University Press on behalf of the Agricultural and Applied Economics Association.All rights reserved.For permissions,please e-mail:journals.permissions@ at Rijksuniversiteit Groningen on April 26, Downloaded fromJosling et al.Understanding International Trade in Agricultural Products425Changing Trade Issues over the Past Ten DecadesAgricultural economists,by the nature of their discipline,are attracted to the issues of the day. It follows that those who work on international trade issues in the main respond to emerg-ing trade situations that demand analysis and explanation.Theoretical developments and improvements in analytical technique often accompany these attempts to understand and explain current problems.As a backdrop to the more detailed discussion of the contributions of economists to the study of international agri-cultural trade,we therefore begin by tracing the evolution of trade issues over the100years since the founding of theAAEA.This will illus-trate the tumultuous nature of the changes that have called out to be addressed by economists, as well as the dramatic advances in theoretical and analytical tools that have been developed to understand these issues.Agricultural trade historically has been a significant share of total commerce,and for many countries has played a dominant role in determining foreign policy.As late as1890, agricultural exports accounted for75%of the total exports from the United States(Johnson 1977,p.298).By the time the AAEA came into existence in1909,the export share was about 50%,and that share fell steadily until the1940s before reviving in the immediate postwar era to about20%.For the world as a whole,agri-cultural trade has steadily declined as a share of total trade in goods and services and is now less than8%,even though it has been increas-ing faster than world agricultural production. Yet trade in agricultural products remains very important for both high-income and develop-ing countries,and agricultural trade policies typically are among the most sensitive in any international trade negotiations.Thefirst two decades of the AAEA,from 1909to1929,was a period of steady decline in trade from the high point of the nineteenth-century globalization period to the growth of protectionist movements and the collapse of European empires in the devastation of World War I.Though the founding fathers of the AAEA were well aware of the geopol-itics of the period and the impact on agri-cultural tradeflows,few books or articles by agricultural economists stand out as dealing systematically with trade issues during that ernment intervention in agricul-tural markets was not on the horizon,and agricultural tariffs were generally low relative to barriers to trade in manufactured goods and services.During the1920s,the situation began to change.With domestic farm policy emergingas a way to boost rural incomes,pressure grewto use trade policy as part of the strategy.The McNary-Haughen Act was an early attemptto use trade policy to influence domestic mar-kets,and the same trend toward protectionismwas occurring in other countries.1The book by Edwin Nourse(1924)introduced a more holis-tic view of world markets as well as a cogent explanation of their significance for U.S.agri-culture.At this time,trade theorists began to expand on the determinants of trade,and thesignificance of resource endowments emergedas a major factor in the explanation of tradeflows.By the third decade of the AAEA’s exis-tence,trade policy was a matter of high polit-ical interest and international contention.TheGreat Depression was widespread and pro-tracted in part because of increased trade pro-tection,and agricultural trade was not spared.The1930Smoot-Hawley tariff bill was origi-nally designed as an agricultural tariff increasebut ended up more generally applied to all goods.Did the profession sit idly by while theworld trade system disintegrated and economic autarchy reigned?It is not easy tofind sem-inal articles from this period on agriculturaltrade and the collapse of markets,with the notable exception of T.W.Schultz’s,who wroteon world agricultural trade and the serious implications for U.S.markets(Schultz1935).The fourth decade was not one of major contributions to the agricultural economics lit-erature in the area of trade.Wartime condi-tions were not conducive to academic pursuits,since many members of the profession wereco-opted into government posts and presum-ably made contributions that may never be revealed.2However,the postwar trading sys-tem was being constructed in the1940s,and agricultural issues were often at the heart of the discussion.3The debates between such notable economists as James Meade and Keynes and1Agricultural economists commented on these issues,in the con-texts of both domestic policy and the trade system.Afine exampleis the study by Black(1928),who warned of the consequences ofthis policy.2An exception was Henry C.Taylor’s book on world agriculturaltrade,emphasizing the importance of the European market(Taylorand Taylor1943).3The debate on managing commodity markets is an example;see the discussion below of the writings by Davis(1942)and Tsouand Black(1944).at Rijksuniversiteit Groningen on April 26, Downloaded from426April2010Amer.J.Agr.Econ.their American counterparts explicitly dealt with the inclusion of agricultural trade in the postwar system but were notable for their assumption that these issues were of such a high political importance that the arguments for freer markets were unlikely to prevail.Mean-while the theory of international trade took major steps forward:Samuelson’s(1948)arti-cle on factor price equalization appeared,and the basis was laid for modern trade theory. The decade of the1950s saw the start of a serious professional interest in agricultural and commodity trade.D.Gale Johnson published a book on the inconsistency between U.S.trade and agricultural policies:the one advocating open markets,the other maintaining protec-tive barriers(Johnson1950).For twenty years Johnson refined this message and had a pro-found impact on the profession(if not on policy),as is detailed below.Condliffe(1951) included some insightful comments about agri-cultural trade in his book The Commerce of Nations,in addition to showing the complexi-ties of trade regulations at that time(Condliffe 1951).4The link between commodity trade and economic development and growth also began to be considered during this period.In fact this was the start of development economics as the colonial system disintegrated.Even the begin-nings of the political economy of agricultural trade can be traced to this period.Kindleberger (1951)introduced interest-group analysis into the explanation of national tariff policies,set-ting the stage for later political economy work on agricultural trade.By the start of the1960s the issue of agri-cultural commodity trade became a significant international concern.The1960s saw sharp increases in agricultural protection in indus-trial countries.The trade system staggered under the burden of the disposition of sur-pluses built up under high price supports. Developing countries saw a different side of this with their requests for market access(on concessional terms)rebuffed by strong domes-tic political forces and their export earnings depressed by low commodity prices in interna-tional markets.Much of the professional writ-ing in the United States on agricultural trade in 4Condliffe influenced a generation of students at Berkeley, including Hillman,who began to ask systematic questions about the issues facing agricultural trade.Hillman(1996)shows some frus-tration over the lack of earlier studies on trade,declaring:“[A]bout the only works relating to agricultural trade were a1920s book by Nourse and Gale Johnson’s work on the trade policy dilemma of US agriculture.”this period focused on how to increase exports,either commercially or through food aid.The1960s saw another development thathas had a profound impact on agricultural trade:the rebirth of regional economic integra-tion and somewhat less ambitious free trade areas.European economists,as well as theirNorth American counterparts,were intriguedby the bold experiment of the European Eco-nomic Community(EEC)but were concernedabout the protectionist Common AgriculturalPolicy(CAP)that formed an integral partof the agreement.The tensions between theEEC(later the EU)and the United Statesover agricultural trade were a major theme for economists during this period and indeed untilthe mid-1990s,when the World Trade Orga-nization(WTO)internalized some of theseconflicts.Both trade theory and the theory of eco-nomic integration were developing rapidly,asreal-world events challenged accepted expla-nations.In the1960s,trade theorists paid increasing attention to international capital movements within the context of standardtrade theory:Capital movements could be a substitute for product trade.5Agricultural eco-nomics as a whole stuck close to its microeco-nomic roots and to a“closed economy”viewof the agricultural sector.There was still a dis-connect between the teaching of agricultural marketing and domestic policy on the one handand teaching about the functioning of the inter-national trade and monetary system on the other.This meant that the profession was some-what slow in responding to the emerging tradeissues of the1960s.6By the1970s a host of new issues had arisenwhich emphasized the importance of external economic events.A sharp rise in oil prices, together with droughts in India,Africa,and the USSR,caused agricultural commodity marketsto spike upward.Two devaluations of the dollar5Schmitz and Helmberger(1970)then developed a modelin which they demonstrate that capital movements and producttrade can be complements,in that increased capital movementsbring about increased product trade.Their examples chosen werefor agriculture and natural resource industries and presaged thegrowth of agricultural and food trade linked to foreign direct investment that has continued to this day.6In an editorial introduction to the otherwise impressive col-lection of articles on agricultural economics published by theAmerican Economics Association(AEA)in1969,the editorsadmit that the“decision to emphasize a limited number of topicsresulted in the exclusion of a number of areas in which agricultural economists have specialized.Among the more importantfields thathave been excluded[is]...international trade”(AEA1969,p.xvi).D.Gale Johnson was on the selection committee for this volume,so presumably he found inadequate material in this area to include.at Rijksuniversiteit Groningen on April 26, Downloaded fromJosling et al.Understanding International Trade in Agricultural Products427and the virtual abandonment of the Bretton Woods monetary system added more shocks to markets.Increased macroeconomic instabil-ity and chaotic commodity market behavior showed up the dysfunctionality of domestic policies.D.Gale Johnson’s seminal bookWorld Agriculture in Disarray and his work on sugar markets encapsulated this situation(Johnson 1973,1974).G.Edward Schuh(1974)reminded the profession of the importance of macroeco-nomics to agricultural markets and the signif-icance of exchange rates to agricultural trade patterns.And,in an extensive survey of“tra-ditional”fields of agricultural economics from the1940s to the1970s(Martin1977),policies related to agricultural trade were deemed wor-thy of a full section,authored masterfully by D.Gale Johnson(Johnson1977).The1980s ushered in a remarkable period of conflicts over agricultural trade and of policy reform that sowed the seeds for their rec-onciliation.The reform of multilateral trade rules for agriculture had to await the neces-sary changes in domestic policy,but this reform eventually emerged from a mix of budget pressures and paradigm shifts.7The Interna-tional Agricultural Trade Research Consor-tium(IATRC,discussed in a later section) became a focus for work on trade.It was also a period when economists were becoming increasingly sophisticated in the art of building models of markets and estimating behavioral parameters.The international trade literature in general was changing over this period,with an examination of imperfect competition mod-els and of the importance of geography,the study of the political economy of protection, and the issue of regional integration.Agricul-tural economists became adept at translating and applying these new areas of exploration into the world of agricultural product trade and associated policies,as discussed below.The decade of the1990s saw a signifi-cant change in the international rules gov-erning national trade policies for agriculture makes.That set of changes made this an active decade for agricultural trade professionals. Despite the signing of the General Agree-ment on Tariffs and Trade(GATT)in1947 by the advanced industrial countries,and the progressive reduction of tariffs on imports of manufactures,there had been little progress on reducing agricultural trade barriers.The 7Policy dialogue in international bodies such as the Organisation for Economic Co-operation and Development contributed signifi-cantly to the paradigm shift,and this dialogue was an extension of the academic discussions of the time.changing paradigms of economic policy that started in the mid-1980s led eventually in1995to the full incorporation of agriculture intothe successor to the GATT,the World Trade Organization.8Multimarket and economy-wide models became still more sophisticated.This was an age of detailed empirical workon agricultural trade rather than one of con-ceptual improvements.But agricultural tradewas becoming mainstream in agricultural eco-nomics curricula,and domestic policy coursesin the United States and the EU began to include some“open economy”issues.Mean-while,agricultural trade itself was changingwith the globalization of the food industry, posing novel challenges for economists.It is clearly too early to judge the lasting nature of contributions since the beginning ofthe new millennium,but the expansion of the range of trade issues connected with environ-mental,consumer,animal welfare,water,and climate change issues has greatly broadenedthe focus of agricultural trade analysts.Recent concerns over the impact of price spikes onfood security and of the use of agriculturalcrops as biomass for fuel have kept agricul-tural trade issues high on the international agenda.Rapid growth in processed and high-value agricultural and food products,and a revolu-tionary spread of retail supermarkets accom-panied the“second wave”of globalization inthe modern era,so that it is no longer fancifulto talk of a global market for farm prod-ucts.Some economists focus on WTO issues, which have become a significant subfield of agricultural trade research and analysis.Oth-ers take a development view:Much empiricalwork on agricultural trade now is done by those examining developing-country issues,includ-ing questions such as the use of trade policyas an element in food security or antipoverty programs.Still others study regional or bilat-eral trade arrangements in all their glory, pondering the balance between the benefitsof partial liberalization and the costs of giv-ing preferred access to high-cost producers.Many contributions are now made by those working in(or with)multilateral institutions (such as the World Bank,the Organisationfor Economic Co-operation and Development [OECD],and the United Nations Confer-ence on Trade and Development[UNCTAD]),8However,trade negotiations have continued to pivot on thethorny issue of liberalization of farm product trade,as evidencedby the current problems in the WTO’s Doha Round.at Rijksuniversiteit Groningen on April 26, Downloaded from428April2010Amer.J.Agr.Econ.often in collaborative studies.This seems to reflect a shift in the way in which agricultural trade research has been organized,a topic to which we return at the end of the paper.As a way of highlighting the ways in which the profession has responded to these chang-ing events,we organize our subjective survey around six areas.Each area is an example of a cumulative advance in understanding,starting with one or two articles and books and devel-oping into a body of more or less accepted wisdom.Contribution#1:Understanding the behavior of international commodity pricesOne of the most persistent questions in agri-cultural trade is whether there are consistent long-run trends in international market prices for agricultural commodities.On the one hand, supply constraints(limited land area)in the face of demand growth(population and per capita income)could push farm product prices ever higher.On the other hand,as consumers spend a high share of rising incomes on non-food items(the Engel effect),economic growth will cause a shift in demand away from basic foods.Relatively rapid agricultural productiv-ity growth will lower the costs of farm produc-tion and hence tend to lower farm prices.The evidence for much of this century appeared to point to a declining price trend.9However,the significance of this trend became a matter of considerable controversy in the1960s.The variability of prices has also been a major topic for investigation over the years. High prices in the early1970s brought this issue to the fore,and a more recent price spike in 2007–8has renewed concerns about the corro-sive economic impact of market instability.Pri-mary product prices in international markets are notoriously more volatile than prices for other products.How much of the price volatil-ity is due to the characteristics of markets(e.g., supply shocks from weather or disease)and how much to government intervention became a subject for study in the1970s and1980s. Commodity Prices and the Terms of Trade The behavior of prices of agricultural com-modities on world markets has been an understandable obsession with economists.Of specific interest to agricultural trade analysis is 9This is in contrast to recent evidence for the period from the late eighteenth to the early twentieth century(Williamson2008).the trend in the relative price of agricultural products compared with nonagricultural prod-ucts.The terms of trade for agricultural(andother primary)products have featured promi-nently in debates about the possible bias ofthe trade system toward particular groups of countries.The debate on whether the economic system generated outcomes that were stacked against developing countries was highly visiblein the1960s.Prebisch(1950)and Singer(1950)had come independently to the conclusion thatthere was a structural reason for the observed decline in the price of agriculture relativeto manufactured goods,reinforcing the ten-dency due to the different income elasticities. Imperfect markets in industrial goods allowed manufacturers to retain much of the benefitsfrom productivity increases rather than pass-ing them on to consumers,whereas agricultural productivity gains were passed directly to con-sumers(or at least processors)in the formof lower prices.As a consequence,the termsof trade turned progressively against the rural “periphery”in favor of the industrial“center.”The concept proved powerful in political termsand was a major motivation for the foundingof UNCTAD in1964and the calls for a New International Economic Order by developing countries in the1970s.The Prebisch/Singer hypothesis has donebetter as a political call to arms than as a statis-tical conclusion.A major revision of the datathat had originally been used was publishedby Grilli and Yang(1988),which broadly con-firmed a downward trend.10But other analysts disagreed with the interpretation of the data: Trends in prices over the past100years areby no means smooth.There have indeed beensharp declines in agricultural prices(particu-larly in1920)but also periods where the trendis upward(over thefirst part of the twenti-eth century),when it disappears(from1920until the late1970s),and when a strong down-ward trend begins(until1990)(Ocampo andParra2002).Cashin and Mc Dermott(2002, 2006)confirm these results and reject boththe existence of a long-run trend and the evidence of structural changes in the series used.The past decade has seen a recovery of prices,and many argue that the trend maybe upward for at least a few more years to come.Moreover,the link between terms oftrade and economic development has become10Their data have since been updated to2000by Pfaffenzeller, Newbolt,and Rayner(2007).at Rijksuniversiteit Groningen on April 26, Downloaded fromJosling et al.Understanding International Trade in Agricultural Products429more blurred.Identification of“primary prod-uct exporters”with“developing countries”looks increasingly dated:For many key farm commodities,high-income countries are the major exporters,and for many developing countries—especially in Asia—manufactured goods now dominate their exports.The recent revival of the idea that agricul-tural prices may be on a long-term upward trend owes much to three phenomena:rapid growth in emerging countries,particularly in China,India,and Brazil,with its implication for dietary improvements;the extraordinary increase in oil prices in2007,which raised energy costs in agriculture and led to gov-ernmental mandates and subsidies for biofu-els;and the apparent stagnation in technical advance in agriculture as a result of declin-ing research expenditures.Contributions to the understanding of these price movements have been somewhat contradictory.Somefind a sig-nificant role for speculation(Gilbert2008); others for biofuel policies(OECD and Food and Agriculture Organization[FAO]2008). But what seems generally agreed is that agri-cultural commodity prices now have a direct link with the price of petroleum,once it exceeds a threshold level at which biofuels become a privately profitable substitute for fossil fuels. International Price ShocksThe importance of commodity pricefluctua-tions and of the domestic policy responses to them was made apparent in the1970s.The quadrupling of petroleum prices in1973–74 and their doubling again in1979–80,when the Organization of Petroleum Exporting Coun-tries(OPEC)coordinated major reductions in supply,triggered a renewed focus on analyzing the consequences of such nonfarm shocks for the agricultural sector.Initially the focus of this literature was on analyzing the impact on con-sumers andfirms,as producers faced sharply higher energy costs.But the magnitude of the petroleum price stimulated massive and rapid exploration for and exploitation of new energy reserves.Such supply reactions were incorpo-rated in the analysis of price impacts,leading to what became known as the“Dutch Disease”literature that sought initially to explain the effects on other sectors of the Dutch economy following the discovery and exploitation of nat-ural gasfields off the coast of the Netherlands. Gregory(1975)made an early contribution to this literature on the impact of nonfarm sector booms:He found that the direct effect is a rise in the demand for labor in the booming nonfarm sector that will initially draw workersfrom other sectors to the booming sector butthat this is followed by an indirect impact on agriculture and other sectors as the change inreal income in the economy affects the demandfor all products.The same core theory has been used to ana-lyze the inter-and intrasectoral and tax policy impacts of agricultural commodity price boomsand busts.In the context of sub-SaharanAfrica,it was common practice for governments totax away windfalls from export price booms, either for depositing in a stabilization fund tobe drawn on to support farmers during periodsof price collapses or to boost treasury coffersso as to allow the boom to be shared withthe rest of the society,including nonboomingfarm industries.But recent analysis has castdoubt upon the ability of governments to effectsuch transfers.Trade economists have also been concernedwith the impact of storage policies on inter-national market price stability and on the optimal storage policy for an open economy.The early theoretical work on stabilization was stimulated by Hueth and Schmitz(1972),who showed the distributional effects in both a closed and an open economy from price stabi-lization brought about through storage.Feder, Just,and Schmitz(1977)analyzed storage poli-cies under trade uncertainty and showed cases where trade would be greatly reduced under ahigh degree of uncertainty.Just et al.(1978) analyzed the welfare implications of storagefrom an international perspective using non-linear assumptions,and Newberry and Stiglitz (1981)expanded the framework for optimal policy intervention under instability for open economies.The persuasive nature of their argu-ments,that private and public storage are code-termined and so the latter might just take theplace of the former,together with the return tolower prices in world markets,has effectively dropped the topic of intergovernmental stor-age agreements from the policy agenda sincethe1980s.11Domestic Policies and Market InstabilityThe argument that governments may exac-erbate international marketfluctuations bytheir own attempts to stabilize domestic prices11The topic did not totally disappear:Williams and Wright (1991),for instance,added additional insights into the welfareimpacts of commodity storage in both trade and no-trade situations.at Rijksuniversiteit Groningen on April 26, Downloaded from。

美国农村金融管理中英文对照外文翻译文献(文档含英文原文和中文翻译)原文：Rural Finance: The American ExperienceConstruction of the rural financial system the U.S. The basic principle is to provide financial support for agricultural development. After years of development, rural America as a whole formed a multi-level, full range of financial institutions, through government subsidies, the development of rural financial system, increase agricultural production, agricultural loans and various channels such as social, agricultural financing funds to meet the agricultural the development of a variety of financial needs, to provide the financial security of agricultural modernization. Building a new socialist countryside, we must adhere to the development of the rural economy as the center, and developing the rural economy can not do without the support of rural finance.Rural econenomic development of rural finance as the most important elements of the capital allocation system,and its role more and more obvious,rural financial Xingxing is agriculture,rural finance activities,the agricultural activities.Agricultural development from the experience of other countries, both developed and developing countries have attached great importance to rural financial institution building. In some countries the rural financial development better, establish a general policy, including financial, co-finance and rural insurance, including comprehensive, multi-level financial system, establish a fund to support rural development cycle of long-term mechanism, more better support the rural and agricultural development, safeguarding the interests of the majority of farmers. We are on the rural financial system in these countries a comparative analysis of proposed rural financial system and improve the path selection.The rural financial system construction rationaleRural financial theory to the formation and development, has received the modern financial development theories and policies of influence. From developing countries of rural financial theory perspective, the three major genres: agricultural financing theory, rural financial markettheory and recent incomplete competition theory.In the early 1980s, before agriculture finance theories have been rural financial theory of mainstream. This theory is based on that of rural residents, especially poor strata not saving ability, rural is facing fund shortage problem. And because the agricultural output characteristics (income uncertainty, investment long-term and low yield, etc.), agriculture and cannot be a commercial bank's investment object, this makes the rural financial mess up, a large amount of fund outflow. Therefore, it is necessary to rural peripheral infuse policy fund, and establish non-profit professional financial institutions to capital allocation. However, this over-reliance on external funding of rural financial policy has sparked funds, the low efficiency of the low return a series of contradictions, in addition to the rural financial market mechanism of neglect, cause rural financial cycle development the long-term mechanism of difficult to build.In the 1980s, the rural financial market theory gradually replaced agricultural credit subsidies theory. Its main theories, the lack of rural financial capital, not because farmers not saving ability, but due to the rural financial system unreasonable financial arrangements (such as government regulation, interest rate control, etc.), curb its development. Its policies are: to play a role in financial markets, and reduce government intervention, realize interest rate marketization, achieving rural savings and capital supply and demand the balance, Cancel special specific target loan system, the appropriate development of non-formal finance market, etc.Since the 1990s, again appeared imperfect competition market theory. This theory is mainly, and the market mechanism is not everything, for stable financial market for reasonable government intervention is necessary. Imperfect competition market is the representative figure of SiDiGeLiCi that because of the existence of market failure factors, the government in rural financial market a very important role, but the government also cannot replace market, but should become the beneficial supplement of the market. The government of financial market supervision should adopt indirect control mechanism, and according to certain principle establish regulatory scope and standards. Rural financial market is not a completely competitive market, especially the loan party (financial institutions) to the borrower's situation can't fully grasp the, plus rural special cases, financial institutions to control rural system risk, if fully in accordance with market mechanism might not be able to cultivate a rural social needed financial market, therefore, it is necessary to adopt appropriate financial markets, such as government intervention and theborrower's organization etc non-market measures.The imperfect market competition theory the main policy suggestion: one is the precondition of the development of financial markets is low inflation macroeconomic stability; etc. Second, in the financial market development to a certain degree, compared with interest rate liberalization, before more attention shall be paid to the actual deposit interest rate remained at will, within the scope of positive while suppressing deposit rate of growth, if the resulting credit allocation and excessive credit demand problem, can not damage by governments in financial institutions savings from external motivation and mobilization providing funds, Third, it is in the interests of the most basic does not damage the bank, within the scope of the policy finance (facing the specific sectors cheap financing) is effective. The fourth is the government should encourage and use the borrower LianBao group and organizational borrower mutual cooperation forms, in order to avoid the rural financial market existing incomplete information loan recovery caused by the problem of low, The use of security, access and mutual financing guarantee ChuJinHui wait for method, can improve the asymmetric information, Six is financing and real business (such as fertilizer, crop, etc.) of combining the method is effective and can ensure loan recovery, Seven is to promote the development of financial institutions, should give its certain special policies, such as limits on new participants, etc.We think, due to the particularity of agricultural production, agricultural income uncertainty, agricultural investment long-term and low yield and production of dispersion characteristics, leading to the rural financial transaction costs and funds use cost is higher, regular commercial financial institutions generally don't want to find the rural financial market, produced the market leading of failure. Therefore, in the process of building the rural financial system, the government suitable intervention is necessary and effective. From all the evolution of rural financial system view, government intervention in rural financial constructing early indeed plays a very significant positive effects. But the government intervention is not the ultimate goal of financial development, financial system, with the establishment and perfection of government intervention can only more and hinder the development of rural financial market. Especially in some developing countries due to the macroeconomic environment instability, departmental policy trend and widespread laws and regulations sex obstacle government intervention become the bottleneck of rural financialdevelopment. So, in many countries, the rural financial system to really play a role, first needs to grasp "government intervention degree" this problem.American of rural financial systemThe United States is the world agriculture of the most developed countries, this with a complete the rural financial system are inseparable. American building the rural financial system are fundamental principles for agricultural development fund supports. After years of development, the rural America from whole formed a multi-level and comprehensive financial systems, through government subsidy, the development of rural financial system, increase agricultural loans and agricultural production socialization and other channels for agriculture, agricultural development, meet the financing of various funds for agricultural modernization needs, provides funding. American rural financial system belongs to a kind of composite credit model, this model has the following characteristics: one is to provide agricultural credit funds of organizations, both professional rural financial institutions, there are other types of financial institutions. 2 it is in financial organization system, general is cooperative financial institution, policy financial institutions and commercial financial institutions co-existing. The United States has now formed the government leading rural policy finance, rural cooperative financial system and a rural commercial finance system.(a) American policy of rural financial systemAccording to the American agricultural credit law to establish a rational division of labor and cooperation of policy-related finance system that by farmers' living bureau, rural electrification bureau, commodity credit company and small business administration composition. American policy rural financial institutions is by the U.S. federal government leading created, especially for its agriculture development and rural development to provide financing institution. Its main function is for agricultural production and activities related to the agricultural production provide credit funds and service, and through the adjustment of agricultural credit activity production scale and the direction of development, implementation of rural financial policy, the control ofagricultural development scale, etc. These financial institutions funds mainly comes from the government provides capital, budget, loan turnover funds and part, borrowing funds utilization is mainly provides some commercial Banks and other lenders is not willing to provide loans, in loan object on different records.1. To improve farmers' living, improvement of agricultural production for the purpose of peasants living innings. Farmers' living innings of the predecessor is agricultural revitalize administration, the agency not profit-minded purpose, aims to help the poor areas and low-income farmers solve fund shortage problem, its borrower is mainly who cannot from commercial Banks and other agricultural credit institutions of agricultural loans to employees. In recent years, farmers living bureau also become American government to implement the agricultural policy, the main tool. If the U.S. government to rational utilization of agricultural production resources and family to farmers by farmers extend bureau of water conservancy and land improvement loans, time limit can be 40 years. In 1990s, farmers living in state, county bureau set up offices has reached more than 1700, strongly support the development of agriculture. Farmers' living bureau of capital operation is mainly provides loans and guarantee. Farmers' living bureau of loans into direct loan scheme and emergency loan program two kinds, including farm ownership loans, operating expenditure loans, crackage construction loan, water conservancy development and soil conservation loans, etc; Farmers' living bureau is mainly to the commercial Banks and other financial institutions according to the farmers living bureau loan scheme to farmers the borrower loan assure.2. To improve rural public facilities and conditions and the establishment of the rural electrification bureau. Rural community development, the construction of water conservancy, electric power facilities and other relevant rural basic construction issue that needs to be unified planning to address common, countries should give financial support and provide the necessary credit help. Founded in 1935 of rural electrification bureau, is also the usda subsidiary institutions, Its main functions are on rural thermal-power cooperatives and farms the borrower loan to improve rural electrification level. The agency's fund use is also known for loans and guarantee primarily.3. Commodity credit company. In 1933, the U.S. government established commodity credit company mainly in order to respond to natural disasters and agricultural crisis. Commodity creditsto farm because company natural disasters caused the reduction of give subsidies, and agricultural production insurance are similar. Its main function is implementing the administration of price and income support program that price support, control of agricultural production, avoid agriculture production waves to the agricultural producers impact, safeguard the interests of consumers. The fund application forms mainly for providing loans and payment subsidies, mainly including agricultural mortgages, warehousing, drying and other treatment equipment loans, disaster subsidies and price subsidies.In addition, the United States has a kind of policy-based financial institutions - small business administration, is specialized for not from other normal channel gaining sufficient funds of small businesses to provide financing to help. The fund mainly comes from parliament appropriated turnover funds and withdraw the loan principal and interest, etc, the fund is mainly used for issuing direct loans, participate in joint loan and guarantee and other special credit. Small business administration on small farms lending is with peasants living bureau division of collaboration, if small farm borrower economic conditions and bad loans small, then by farmer family bureau fund supports, when small farm borrower economic status improved, the more loan demand by the small business administration provided.(b) American rural cooperative finance systemBenefited from the United States highly developed economic and financial system, American rural constructed comparatively perfect cooperation financial system. In the early 20th century, American agricultural credit financing is mostly by private institutions and individuals with, such credit funds of the quantity is limited, and period is shorter, as the us economy development, the financial system has clearly can not adapt to the needs of the development of modern agriculture. The U.S. government began in 1916 NongDai formulated a series of law, set up by the U.S. government leading NongDai grass-roots organization specialized Banks and credit system. Its main purpose is passed on the agricultural organizations, agricultural development project lending, expand agricultural funds available sources, improving farmers' working conditions and welfare, increases the farmers' income, accelerate the development of agriculture. Initial rural financial cooperation organization are in government leaders and contributed by support built, along withthe national capital gradually introduced, now of the rural cooperative finance has become by farmers have cooperation financial institutions.Now, the rural cooperative finance by federal medium-term credit bank, cooperative Banks, federal land bank and land bank cooperatives three system composition, the three rural cooperative financial institutions are in government leaders and capital support, using a top-down way up. Among them the federal medium-term credit bank is America's most important agricultural credit cooperative system, this system is 1923 by the U.S. government in 12 credit area established 12 families federal medium-term credit bank composition, its main resolving peasants' short-term loans difficult question. Every credit bank credit cooperatives, subordinate many production cooperatives implement shareholding ownership, the borrower must have equivalent to loan sum of 5% to 10% cooperatives stocks or participate in the card. Loan time limit is 1 year commonly, the longest do not exceed seven years. With the corresponding is federal land banking system, this system comprises 12 agricultural credit the federal land bank and its subordinate co-operatives of composition, this system has become the main provider of farmer long-term loans, Federal land ownership, each bank implements shares to federal bank must pay a total of ubcta member borrowing capital of 5%, bank shares shall belong to all the cooperatives all, also indirectly shall belong to all the borrower all, Federal land bank only deal with long-term real estate loans, loan object basically is the individual farmer, loan time limit for legal 5-40 years. Cooperative bank system is designed to give us a acquire equipment, supplementary operating funds, buying goods such as providing loans and the establishment of, it by thirteen cooperative Banks composition, 12 credit district each set up a, still include in 1988 was created in Washington's central bank partner.(c) American agricultural insurance systemAmerican agricultural insurance system is after fumble ceaselessly, development and form. Early American agricultural insurance is by private insurance companies, but due to agricultural insurance risk huge, its management of the crop insurance are ended in failure. In order to help farmers deal with agricultural production risks, the American government has been very active in crop insurance plan. Since 1938 the federal crop insurance law enacted, the American agricultureinsurance after 60 years of development, the formation of a relatively complete crop insurance business, safeguard level and farmer participation rate rise ceaselessly, for stable agricultural production, improving national welfare level played an important role. Existing U.S. agricultural insurance completely by the commercial insurance company management and agent, of course, commercial insurance company will get government in business management fee and insurance premium, support of subsidies, etc. American crop insurance operation of the main points three levels, the first layer for federal crop insurance company (risk), mainly be responsible for the nationwide administration planted terms the formulation, the risk control to private insurance companies, reinsurance support; etc. The 2nd is have management of agricultural risks qualification priate insurers, they signed an agreement with risk administration execution risk administration, and promised to the provisions of article layer is a crop insurance agent and survey nuclear deliberately, American crop insurance agent sales, mainly through specific business, they are responsible for the implementation.Reference Documentation:1:Steven Husted, Michael Melvin, International Economics [M], (the fifth edition), Higher Education Press, 20022:Beck, T., Demirguc-Kunt, A., & Maksimovic, V. (2005). Financial and legal constraints to growth: Does firm size matter? The Journal of Finance, 60, 137–177.3:Peng, Y. (2004). Kinship networks and entrepreneurs in China's transitional economy. American Journal of Sociology, 109,1045–10744:Qian, Y. (2000). The process of China’s market transition (1978–1998):The evolutionary, historical, and comparative perspectives. Journal of Institutional and Theoretical Economics, 156, 151–171.5:Shane, S., & Cable, D. (2002). Network ties, reputation, and the financing of new ventures. Management Science, 48, 364–381.6:Newton, K. (2001). Trust, social capital, civil society, and democracy.International Political Science Review, 22, 201–214.7:Liu, Z. (2003). The economic impact and determinants of investment in human and political capital in China. Economic Development and Cultural Change, 51, 823–850.8:Birner, R., & Witter, H. (2003). Using social capital to create politicalcapital. In The commons in the New Millennium: Challenges andadaptation (pp. 291–334). Cambridge and London: MIT Press.译文：美国农村金融管理模式美国是世界上农业最发达的国家，这与其有完备的农村金融体制密不可分。

国内外农村金融研究的理论综述篇一：农村金融体系完善文献综述专业文献综述目:名:院:业:级:号:: 建立我国农村金融体系的思考综述曹青经济管理学院金融学金融09231309428 潘辉职称:副教授2011年 4 月 14 日南京农业大学教务处制题姓学专班学指导教师关于我国农村金融体系的思考综述曹青指导老师：潘辉摘要：农村金融体系是一国金融体系的重要组成部分，是金融体系在农村地区的运行和发展。

从理论内容上讲，农村金融体系应该包括一系列内涵丰富的金融组织形式和服务品种，如银行信贷、结算、保险、证券、信托投资理财等。

良好的农村金融体系能够有效调节农村资金、满足新金融需求，加快社会主义新农村建设。

我国是一个农业大国，农业人口占我国人口的56%，改革开放以来，我国的农村经济有了长足的进步，服务于农村经济的农村金融系统也有较大发展，但现在农村的金融资金还不够庞大，不足以支撑我国农村经济的发展，分析当前我国农村金融体制存在的问题，提出构建多元化农村金融体制的对策，对促进社会主义新农村建设具有重大的意义。

关键词：农村金融体系新农村建设金融支农Study on The Construction of China’s Rural Financial SystemCao Qing Pan HuiAbstract：The rural financial system is an important part of one country’s financial system. It is the development of financial system in rural area. In theory, the rural financial system should include a series of financial association and kinds of services, such as financial credit, settle accounts, insurance, financial securities, affiance and so on. A good rural financial system can adjust rural funds, satisfy financial demanding and speed up the construction of new village. China is a large agricultural country. 56 percent of China’s population is agricultural population. After the reform and opening-up, not only China’s rural economy but also the rural financial system has made a great development. But rural financial funds are not enough to support the development of rural economy. It is very important for promoting theconstruction of socialist new village to analysis issues of rural financial system and come up with measures of construction of pluralism rural financial system.Key words: the rural financial systemthe construction of new villagefinancial supports of the village从理论内容上讲，农村金融体系应该包括一系列内涵丰富的金融组织形式和服务品种，如银行信贷、结算、保险、证券、信托投资理财等; 从地域上讲，为农村经济发展服务的农村金融体系是指县及县以下为农户和中小企业提供金融服务的金融机构或金融活动。

农村金融外文翻译文献综述(文档含中英文对照即英文原文和中文翻译)农村金融发展不会促进经济发展吗？来自尼日利亚的实证摘要：强劲的经济发展是不可能没有金融深化的，尤其是在欠发达国家（最不发达国家）大多数民众居住的农村社区。

本文分析了农村金融发展对尼日利亚经济增长的影响。

本文选用了1980-2011年的时间序列数据，运用Johansen和Juselius的协整检验，以得出变量之间的长期关系。

因此，用动态普通最小二乘法（ DOLS ）方法揭示尼日利亚农村金融发展与经济增长之间的关系。

协整检验结果表明农村金融发展与尼日利亚经济增长之间存在长期关系。

此外， DOLS 结果发现农村金融发展与尼日利亚经济增长之间存在显著的正相关关系。

它在这项研究中得到证实，农村金融作为全国经济增长的引擎。

因此，可以得出结论，提高农村生产力的信贷可以减免弱势创业者的负担，从而使他们能够对尼日利亚经济的发展做出最大的贡献。

此外，本研究建议除其他事项外，对于农村生产的信贷分配的障碍应减少到最低限度。

关键词：农村发展；信贷分配；金融发展1 引言包容性增长的理念，促使第三世界的经济体发起，实现变化的政策和规划旨在将瘫痪的经济代理人转变成积极的人员来提高他们的经济增长。

尼日利亚政府也不例外，政府促进包容性增长通过尼日利亚中央银行（CBN）运用双广义目标金融包容策略。

首先，要将无银行帐户的民众绝大多数在农村社区成为金融体系的活跃成员。

其次，它也强调在农民负担得起的成本上，提高农村居民的信贷可得性。

不幸的是，在使用金融包容性策略如村镇银行和农业信贷保证计划等等，没有达到目标受益者。

一方面，一些确定为负责非洲农村金融市场的发展表现不佳的问题包括过度管制，监管不力和人才缺乏（Aliero，2009）。

另一方面，该方案在那时间会受政治因素影响（Ibrahim和Aliero，2012）。

尼日利亚历届政府都提出了结构调整计划的几个扶贫方案（SAP）通过国家的经济增长和发展战略（需求）转换到议程。

互联网农业金融外文文献翻译引言农业金融是支持农业发展和农民脱贫的关键领域。

互联网技术的快速发展为农业金融行业带来了新的机遇和挑战。

本文将翻译并介绍一篇关于互联网农业金融的外文文献。

文献概述文献标题：《互联网农业金融：机遇与挑战》作者：John Smith发表时间：2020年文献内容本文主要讨论了互联网在农业金融领域的应用，以及由此带来的机遇和挑战。

首先，互联网技术为农业金融提供了更好的数据收集和分析能力。

通过互联网平台，农业金融机构可以更准确地了解农民的需求和信用情况，有助于提供更精确和个性化的金融服务。

此外，互联网还可以提供农业市场信息和农业技术支持，帮助农民提高生产效率和农产品质量。

然而，互联网农业金融也面临一些挑战。

首先是数字鸿沟问题。

由于农村地区的互联网覆盖率相对较低，很多农民无法享受到互联网农业金融的便利。

其次，互联网安全问题也是一个重要考虑因素。

在互联网农业金融中，涉及到大量的个人和财务信息，网络安全的保障显得尤为重要。

此外，互联网农业金融可能会增加金融不平等问题，使一些农民无法获得公平的金融服务。

总的来说，互联网农业金融在为农业发展和农民脱贫提供机遇的同时，也面临一些挑战。

农业金融机构和政府应积极应对这些挑战，推动互联网农业金融的发展，使其更好地为农民和农业发展服务。

结论本文对互联网农业金融的机遇和挑战进行了介绍。

互联网技术的应用为农业金融带来了更好的数据分析能力和金融服务，但也面临数字鸿沟、网络安全和金融不平等等挑战。

农业金融机构和政府应积极应对这些挑战，推动互联网农业金融的发展，进一步支持农业发展和农民脱贫。

参考文献Smith, J. (2020). Internet Agriculture Finance: Opportunities and Challenges.。

农村金融监管的思考中英文对照外文翻译文献农村金融监管的思考中英文对照外文翻译文献Improve the concept of financial supervision in rural areas1Xun QianFarmers in China's vast population, has some large-scale production of the farmers, but also survival-oriented farmers, huge differences between the financial needs of rural finance intermediation makes complex, together with agriculture itself is the profit low, natural and market risks high risk decision to weak agricultural industry characteristics, resulting in the cost of rural financial transactions is far higher than the city, also decided to organize the rural financial system in terms of operation or in the market has its own special characteristics. 20 years of financial reform, financial development while the Chinese city made impressive achievements, but the rural finance is the entire financial system is still the weakest link. Insufficient supply of rural finance, competition is not sufficient, farmers and agricultural enterprises in getting loans and other issues is also very prominent, backward rural financial system can no longer effectively support the development of modern agriculture or the transformation of traditional agriculture and the building of new socialist countryside, which to improve the rural financial supervision new topic.China's rural financial regulatory problems(A) the formation of China's financial regulatory system had "a line three commission " (People's Bank, the Securities Regulatory Commission, Insurance Regulatory Commission and the Banking Regulatory Commission) financial regulatory structure. BankThese stringent requirements, different management and diversification of monitoring has its positive role, but it also had some negative effects. First, inefficient supervision, supervision of internal consumption of high costs, limited financial industry business development and innovation space. Second, the regulatory agencies, regulatory bodies and the information asymmetry between central banks, banking, securities, and insurance mechanisms of coordination between regulatory bodies are1American Journal of Agricultural Economics，2009.not perfect. Information between central banks and regulatory agencies is difficult to share, is difficult to create effective monitoring force. Basically between the various regulators in their respective state regulators, regulatory policies and measures to overlapping or conflicting phenomena have occurred, unable to cope with China's current rural financial market complexity and diversity and so on. Third, financial institutions have liquidity risk or out of the market and so on, may be excessive because the central bank assistance, financial institutions and financial institutions led to the person in charge "capacity risk" and "moral hazard", or for financial institutions regulatory arbitrage possibilities; addition, since the lack of recourse, may adversely affect the financial stability.(B) rural financial ecological environment is not in-depthThe current financial environment in rural county building still remains in the letter the user, village, township, community development credit level, "government-led, human-propelled, departmental interaction" and create a mechanism for financial ecological environment in rural areas lack. Local governments and authorities the importance of financial knowledge of the ecological environment is not deep, implementation and functions of individual local protectionism and heavy, there is interference with the financial sector credit and other daily business situation. Rural credit system lag, lack of bad credit punishment mechanism, rural businesses and residents in the overall credit awareness is not high, rural finance development and expansion of social services and social protection of the environment has not yet formed.(C) China's existing legal system of financial supervision and a number of shortcomings, can not guarantee that financial regulation is reasonable, effective, standardized implementationFirst, regulatory lag, supporting regulations are incomplete, the content is too rough, too simple, the banking, securities and insurance supervision laws and regulations more old, a general lack of quantitative science. Supervisory regulations and standards, regulatory methods and technical means not meet regulatory requirements in the market. Staff in the actual implementation, not easy to grasp the scale, may of operation. Second, the Chinese regulators and the regulated objects exist some interest, and the existing regulations, lack of supervision and regulatoryenforcement are to ensure that financial regulation can not be just and reasonable. Finally, China's financial supervision is still difficult to shake off the inertia of the executive-style regulatory impact.(D) of the Rural Financing drifting outside the existing financial regulatoryAccording to IFAD study, Chinese farmers from the informal financial institutions, loans from official credit institutions about 4 times. For farmers, the importance of informal financial markets over the formal financial market. China's mainly rural folk form of finance rural credit cooperatives, Cooperation, private lending, private banks, private funds, microfinance, etc., of which only rural credit cooperatives and microfinance in China's financial supervision under the rest of the financial forms the lack of appropriate supervision. The general lack of rural financial organizations of civil norms, there is a big risk, China's existing laws and regulations on private financial institutions in rural areas is one of "isolation" policy, making a lot of money from the dark into the rural financial market and greater regulation of financial difficulty, on rural financial security is a potential threat.learn from the developed countries(A) improve coordination of rural finance mechanisms for external supervision1. The United States "multiple composite" of the coordination mechanism. U.S. financial cooperation system in rural areas by the federal mid-term credit banks, cooperative banks, federal land banks and federal land bank system composed of three Cooperatives, the Farm Credit Administration (NCUA) leadership, and with the Council under the leadership of the private banks in rural commercial credit, National Rural Credit Bank policy of the United States shared the task of rural financial intermediation. The organizational model is a typical multi-mode hybrid system, three systems have an independent management system, with clear terms of reference. To ensure the healthy development of rural financial institutions, commercial banks in the United States adopted a different regulatory models, specifically setting up a relatively sound financial regulatory system in rural areas, including regulators, industry self-regulation associations, financial intermediation and mutual insurance group clearing center, the four kind of independent agencies and their subsidiary bodies, the functions of different, but share the same objectives as a common rural cooperative financial institutions to serve the regulatory system.2. Germany's "comprehensive regulatory model" of coordination mechanisms. Low concentration of the German banking system, in the very important parts of the bank, the representative of the financial mixed operation. Commonwealth Bank and the Federal Financial Supervisory Authority the power to regulate the two main regulators of the banking sector there is a clear division of labor, but also close cooperation. Commonwealth Bank in Germany, nine states have branch offices, using their own network advantages to the Federal Financial Supervisory Authority is responsible for daily transmission of data banks focus for the Federal Financial Authority to provide a better basis for the exercise of regulatory functions, but it is not directly involved in the regulation work, nor has the administrative punishment. The Federal Financial Supervisory Authority did not have branches in the states, it is difficult to carry out regular supervision, need to cooperate with the Commonwealth Bank to perform its regulatory functions. Germany's main central banks and industry rely on the federal audit of the regulatory system and risk prevention and protection system to ensure rural finance in the specification on the basis of continuous development.3. Japan's "complement each other-type" coordination mechanism. In Japan, the dual supervision of the implementation of rural finance: first, the Office of Government financial regulation, supervision on the implementation of various financial institutions, to achieve the overall risk control; Second, national and local Forestry and Fisheries Department with the Office of Financial Regulation on the implementation of rural financial institutions supervision, including the Ministry of Agriculture consists of the branch on Norinchukin supervision, Forestry and Fisheries set up in six major areas of agricultural area in County Council on joint supervision of the letter, and all, Road House, County Farmer of the Ministry of Agriculture within its jurisdiction Association for Cooperative Finance Supervision Department(B) the establishment of deposit insurance and emergency rescue system to form a three-tier safety netDeveloped financial system generally established strict internal management system, deposit insurance system and the system of three emergency safety net. As a second-class safety net of deposit insurance system has been very satisfactory. The federal government on rural finance unified compulsory deposit insurance, the specific business operation by the Federal Deposit Insurance Corporation's Savings。

有关农业的英文参考文献Agriculture is the backbone of many economies, providing sustenance and raw materials for a variety of industries.It's a sector that has evolved significantly over the centuries, from simple subsistence farming to high-tech precision agriculture.The impact of climate change on agriculture is a critical topic, with studies showing how temperature fluctuations and water scarcity can affect crop yields. It's essential to understand these impacts to develop strategies for sustainable farming practices.Technological advancements have transformed the agricultural landscape. From genetically modified crops to drone monitoring, the integration of technology has increased efficiency and productivity in farming operations.The role of small-scale farmers in global food security is often overlooked. These farmers, who make up a significant portion of the agricultural workforce, contribute to local economies and food supply chains, highlighting the importance of supporting their livelihoods.Soil health is a foundational aspect of agriculture. The quality of the soil directly influences crop growth and sustainability. It's crucial to research and implement soil conservation methods to ensure long-term productivity.Agricultural biodiversity is vital for the resilience of farming systems. A diverse range of crops and farming practices can help mitigate the risks of pests, diseases, and environmental changes.The concept of agroecology combines ecological principles with agriculture to create sustainable and resilient farming systems. It's a holistic approach that considers the social, economic, and environmental aspects of farming.Urban agriculture is an emerging trend, where farming is integrated into urban landscapes. This can help address food security issues in cities and provide fresh produce to urban populations.The future of agriculture lies in innovation and adaptation. As the global population grows and resources become scarcer, it's essential to explore new methods and technologies that can sustainably feed the world.。

农村金融监管中英文对照外文翻译文献农村金融监管中英文对照外文翻译文献(文档含英文原文和中文翻译)Improve the concept of financial supervision in rural areas1Xun QianFarmers in China's vast population, has some large-scale production of the farmers, but also survival-oriented farmers, huge differences between the financial needs of rural finance intermediation makes complex, together with agriculture itself is the profit low, natural and market risks high risk decision to weak agricultural industry characteristics, resulting in the cost of rural financial transactions is far higher than the city, also decided to organize the rural financial system in terms of operation or in the market has its own special characteristics. 20 years of financial reform, financial development while the Chinese city made impressive achievements, but the rural finance is the entire financial system is still the weakest link. Insufficient supply of rural finance, competition is not sufficient, farmers and agricultural enterprises in getting loans and other issues is also very prominent, backward rural financial system can no longer effectively support the development of modern agriculture or the transformation of traditional agriculture and the building of new socialist countryside, which to improve the rural financial supervision new topic.China's rural financial regulatory problems(A) the formation of China's financial regulatory system had "a line three commission " (People's Bank, the Securities Regulatory Commission, Insurance Regulatory Commission and the Banking Regulatory Commission) financial regulatory structure. BankThese stringent requirements, different management and diversification of monitoring has its positive role, but it also had some negative effects. First, inefficient supervision, supervision of internal consumption of high costs, limited financial industry business development and innovation space. Second, the regulatory agencies, regulatory bodies and the information asymmetry between central banks, banking, securities, and insurance mechanisms of coordination between regulatory bodies are1American Journal of Agricultural Economics，2009.not perfect. Information between central banks and regulatory agencies is difficult to share, is difficult to create effective monitoring force. Basically between the various regulators in their respective state regulators, regulatory policies and measures to overlapping or conflicting phenomena have occurred, unable to cope with China's current rural financial market complexity and diversity and so on. Third, financial institutions have liquidity risk or out of the market and so on, may be excessive because the central bank assistance, financial institutions and financial institutions led to the person in charge "capacity risk" and "moral hazard", or for financial institutions regulatory arbitrage possibilities; addition, since the lack of recourse, may adversely affect the financial stability.(B) rural financial ecological environment is not in-depthThe current financial environment in rural county building still remains in the letter the user, village, township, community development credit level, "government-led, human-propelled, departmental interaction" and create a mechanism for financial ecological environment in rural areas lack. Local governments and authorities the importance of financial knowledge of the ecological environment is not deep, implementation and functions of individual local protectionism and heavy, there is interference with the financial sector credit and other daily business situation. Rural credit system lag, lack of bad credit punishment mechanism, rural businesses and residents in the overall credit awareness is not high, rural finance development and expansion of social services and social protection of the environment has not yet formed.(C) China's existing legal system of financial supervision and a number of shortcomings, can not guarantee that financial regulation is reasonable, effective, standardized implementationFirst, regulatory lag, supporting regulations are incomplete, the content is too rough, too simple, the banking, securities and insurance supervision laws and regulations more old, a general lack of quantitative science. Supervisory regulations and standards, regulatory methods and technical means not meet regulatory requirements in the market. Staff in the actual implementation, not easy to grasp the scale, may of operation. Second, the Chinese regulators and the regulated objects exist some interest, and the existing regulations, lack of supervision and regulatoryenforcement are to ensure that financial regulation can not be just and reasonable. Finally, China's financial supervision is still difficult to shake off the inertia of the executive-style regulatory impact.(D) of the Rural Financing drifting outside the existing financial regulatoryAccording to IFAD study, Chinese farmers from the informal financial institutions, loans from official credit institutions about 4 times. For farmers, the importance of informal financial markets over the formal financial market. China's mainly rural folk form of finance rural credit cooperatives, Cooperation, private lending, private banks, private funds, microfinance, etc., of which only rural credit cooperatives and microfinance in China's financial supervision under the rest of the financial forms the lack of appropriate supervision. The general lack of rural financial organizations of civil norms, there is a big risk, China's existing laws and regulations on private financial institutions in rural areas is one of "isolation" policy, making a lot of money from the dark into the rural financial market and greater regulation of financial difficulty, on rural financial security is a potential threat.learn from the developed countries(A) improve coordination of rural finance mechanisms for external supervision1. The United States "multiple composite" of the coordination mechanism. U.S. financial cooperation system in rural areas by the federal mid-term credit banks, cooperative banks, federal land banks and federal land bank system composed of three Cooperatives, the Farm Credit Administration (NCUA) leadership, and with the Council under the leadership of the private banks in rural commercial credit, National Rural Credit Bank policy of the United States shared the task of rural financial intermediation. The organizational model is a typical multi-mode hybrid system, three systems have an independent management system, with clear terms of reference. To ensure the healthy development of rural financial institutions, commercial banks in the United States adopted a different regulatory models, specifically setting up a relatively sound financial regulatory system in rural areas, including regulators, industry self-regulation associations, financial intermediation and mutual insurance group clearing center, the four kind of independent agencies and their subsidiary bodies, the functions of different, but share the same objectives as a common rural cooperative financial institutions to serve the regulatory system.2. Germany's "comprehensive regulatory model" of coordination mechanisms. Low concentration of the German banking system, in the very important parts of the bank, the representative of the financial mixed operation. Commonwealth Bank and the Federal Financial Supervisory Authority the power to regulate the two main regulators of the banking sector there is a clear division of labor, but also close cooperation. Commonwealth Bank in Germany, nine states have branch offices, using their own network advantages to the Federal Financial Supervisory Authority is responsible for daily transmission of data banks focus for the Federal Financial Authority to provide a better basis for the exercise of regulatory functions, but it is not directly involved in the regulation work, nor has the administrative punishment. The Federal Financial Supervisory Authority did not have branches in the states, it is difficult to carry out regular supervision, need to cooperate with the Commonwealth Bank to perform its regulatory functions. Germany's main central banks and industry rely on the federal audit of the regulatory system and risk prevention and protection system to ensure rural finance in the specification on the basis of continuous development.3. Japan's "complement each other-type" coordination mechanism. In Japan, the dual supervision of the implementation of rural finance: first, the Office of Government financial regulation, supervision on the implementation of various financial institutions, to achieve the overall risk control; Second, national and local Forestry and Fisheries Department with the Office of Financial Regulation on the implementation of rural financial institutions supervision, including the Ministry of Agriculture consists of the branch on Norinchukin supervision, Forestry and Fisheries set up in six major areas of agricultural area in County Council on joint supervision of the letter, and all, Road House, County Farmer of the Ministry of Agriculture within its jurisdiction Association for Cooperative Finance Supervision Department(B) the establishment of deposit insurance and emergency rescue system to form a three-tier safety netDeveloped financial system generally established strict internal management system, deposit insurance system and the system of three emergency safety net. As a second-class safety net of deposit insurance system has been very satisfactory. The federal government on rural finance unified compulsory deposit insurance, the specific business operation by the Federal Deposit Insurance Corporation's SavingsAssociation Insurance Fund, and to assume supervision of the insured financial institutions; the German government on the implementation of the voluntary deposit of credit co-insurance, not mandatory insurance, its insurance sector is the industry organization; Japan's credit co-national compulsory deposit insurance, the insurance agency is a joint venture between Government and the people, by the Government, Norinchukin Bank, Japan Bank, Credit Union and a coalition of agricultural water fishery credit cooperatives Industry Insurance Agency. As a third-class safety net for emergency rescue system, specific measures for implementation in different countries, bank deposits for the brink of bankruptcy, in some countries directly by the central bank to offer special low-interest loans (such as the U.S. and Italy), in some countries by the bank regulatory authorities and other Commercial Bank for the establishment of special institutions to finance the rescue (such as France and Belgium), a number of countries came forward by the deposit insurance agency to provide funds (such as Japan), more by one or a few large banks in support of official support.(C) rural finance within the industry associations to play a regulatory role1. U.S. Rural Cooperative Finance Association of self-management. In the United States, various credit associations or co-finance up to several dozen, including a long history, nationally renowned for the National Association of Credit (CUNA), a specialized credit services for the Federal Register Association (NAFCU), there are also special school credit for community service credit unions and associations (CCUC), etc.. While the states also have their own Credit Union Association. The trade association is one of the major work to develop a code of conduct, self-regulation management.2. German credit cooperation and other cooperative system of industry self-regulation of mutual integration. German cooperation in the National Credit Union (BVR) is a cooperative bank industry self-regulatory organizations, grass-roots local cooperative banks, cooperative banks and district central cooperative banks, as well as professional co-finance companies, cooperative credit union is a member. Germany 11 contributions from the various types of cooperatives set up jointly organized a regional cooperative audit association, responsible for annual audit of the specialized agencies of the various types of cooperatives, which are also common types of cooperatives at the district level, the industry watchdog, plays an important industry supervisory role.3. Set supervision and service in one of the Japanese Agricultural Association. Japanese government in 1947 promulgated the "Agricultural Cooperative Law," agricultural association provides services for members of cooperative organizations, its not for profit, adhere to the rural communities and members for the service centers, institutional system based on grass-roots level according to facilitate farmers , established the principle manageable. The main source of funding is to absorb the rural deposits, in principle, limited to serving as a member of the farmers and agricultural groups. To ensure financial security cooperation, and healthy run, set up a rural credit insurance, temporary transfers of funds mutual aid system and credit cooperative organizations, and government co-funded deposit insurance system, agricultural disaster compensation system and the agricultural credit guarantee system for the insurance system measures.improve the financial supervision of the concept of rural China(A) improve and perfect the legal system of rural financial regulation, supervision according to lawFinance as the core of the economy, the continued growth of rural finance is more in need of legal regulation and a sound legal environment, accelerate the development of rural finance laws, no legal basis to change the situation, has become the strong demand of rural financial development. Since the reform and opening up, no one for rural finance, rural financial regulation can serve as a basis for law. To achieve effective supervision, the need for additional professional laws, regulations, and specific regulatory measures, regulations and implementation details, so as to achieve from the general administrative supervision to improve the legal system, efforts to establish changed the credit system, and ultimately control law .While in strengthening the legal system, adopt effective measures to strengthen the integrity of the whole community education and step up publicity to raise awareness of the general financial and legal residents, to actively support the work of the national collective finance; education of the population according to lending, and actively with the illegal lending practices fight, really create a sound legal basis, that the law according to the credit environment and legal environment.(B) give full play to grassroots government, professional regulatory functionActively cooperate with local governments at all levels and support the financialregulatory authorities in rural credit markets make an important guarantee for supervision. To actively coordinate local government and non-basic level target consistency, to avoid the expense of national interests and local interests of the occurrence.The Chinese government should establish a tax system is different from commercial banks, a low tax or tax-free policy, by policy banks to provide low-interest or interest-free loans of rural finance, rural finance to increase subsidies and assistance. Those relatively large amount of private credit, shall be approved by local authorities just to strengthen the audit checks to the legitimate rights and interests protected.China's rural economy, small and dispersed operations, has not been large-scale establishment of agricultural insurance, in case of force majeure, the rural financial system will face great risk. Chinese financial institutions in the internal governance structure and risk management system has been initially established, the basic external financial regulation in place of the case, should refer to the experience of developed countries, commercial banks in the country to establish a mandatory deposit insurance system and the emergency rescue system, the formation of three protection network.(C) strictly rural financial institutions, "access and" to improve the professional standards of financial supervisionFinancial regulators should be a good loan companies, postal savings banks, rural credit union funds, village banks and other new-type rural financial institutions, market access, ensure that the new-type rural financial institutions in corporate governance, capital adequacy ratio to meet the requirements. Kind in the country selected the new rural financial institutions, better internal control system, modified to add a representative of management to form the template to help set up rural financial institutions, covering credit, billing, savings, cash, security and other risk point of internal control system . Establish small rural banks and other financial institutions, guidance system, the financial regulators to conduct the transition of its guidance, to promote rural financial institutions to a sound system of internal control as soon as possible, improve management, risk control and management mechanisms work well.(D) to play the role of industry self-regulatory associations, to promote the vitality and force the formation of the banking sectorChina was set up in late 2005, China Banking Association of Rural FinancialWorking Committee, the current to China Banking Regulatory Commission and the provincial government regulatory framework based on an industry self-regulatory organization more. Promoting the Development, promoting and developing self-regulatory functions of trade associations, for building a healthy banking system in China is significant. Association to play a functional role to guide the establishment of liaison mechanisms and management of daily work, and improving the industry conventions and regulations, regulators should not control those, which were needed in the work of regulatory bodies, as far as possible by the association responsible for promoting the formation of the energy and banking efforts to achieve self-management and trade association national regulatory authorities to monitor the combination system of regulation.(E) to safeguard the security and financial safety regulation to changes in both the core competitivenessThe nature of financial regulation is intended to innovation and development of the financial industry to create a favorable internal and external environment, rather than constrained the development and expansion of rural finance. For the monitoring and supervision, do not speak the efficiency of regulation, which implies the greatest risk, will affect the long-term development of the rural financial sector.ConclusionIn short, improving financial supervision in terms of its breadth, should be an include government regulation, industry self-regulation, financial institutions, internal control, four levels of social supervision system; its depth, it should be involved in risk prevention, effective access, legal norms, the operation simple and efficient aspects of a systems engineering. Only by striving to improve the new concept of financial supervision, the introduction of new methods of financial supervision in order to receive financial regulation expected results. Only in this way can be established consistent with China's national conditions, but also to adapt to modern requirements of international financial regulatory system in rural China.发展中国农村金融监管的思考Xun Qian农民在中国人口众多,有一些大型生产的农民,但也自给自足的农民,巨大的金融需求之间的差异使农村金融需求很是复杂,连同农业本身是利润低、自然和市场风险高的风险决策农业产业特性,软弱的农村金融交易的成本远高于城市,也决定组织农村金融体系的运行或市场有其自身的特点。

２００４年初，《中共中央关于促进农民增收若干政策的意见》正式公布，这是时隔１８年后中央再次把农业和农村问题作为中央一号文件下发，充分体现了解决“三农”问题的紧迫性。

而解决资源配置问题是解决“三农”问题的关键，所以，农村金融制度作为农村经济发展中最为重要的资本要素配置制度成为农村经济改革中的一个焦点。

２００５年，中央１号文件再次将“推进农村金融改革和创新”作为农村金融工作的主题。

目前，在对我国农村金融问题的研究上已经积累了大量的文献，无论在理论研究和实践推广方面都取得了突出成果，但是存在的问题和争论依然很多，农村金融改革问题的许多方面仍然处于试点和摸索阶段，农村金融体制的改革取得的阶段性成果仍需时间的检验。

本文对近年来国外对农村金融问题的研究做出归纳和总结，以图对我国现行的农村金融体制改革有所启迪。

一、对农村金融市场及其供求关系的研究这方面代表性的理论观点有美国耶鲁大学经济学家ＨｕｇｈＴ．Ｐａｔｒｉｃｋ提出的两种模式：一是“需求追随”模式，强调农村经济主体的金融服务需求，导致农村金融组织及相关金融服务的供给先于农村经济主体的需求。

二是“供给领先”模式，强调农村金融组织及相关服务的供给先于农村经济主体的需求。

并且他认为，这两种模式与农村经济发展的不同阶段相适应，两种模式之间存在一个最优顺序问题。

该理论对于研究我国农村金融的制度供给具有理论指导意义。

此后的学者从各个不同角度研究了农村金融市场及金融供给和需求，较新的研究有：美国学者Ｐａｕｌ．Ｎ．Ｅｌｌｉｎｇｅｒ和ＤａｖｉｄＬ．Ｎｅｆｆ（１９９３）运用两种计量经济学模型对影响金融市场效率的七个因素进行了分析。

ＭｉｒｅＤｅｖａｎｅｙ和ＢｉｌｌＷｅｂｅｒ（１９９５）通过评估一个农村银行结构的动态模型，测试了美国的农村银行业市场是不完全竞争的，农村的银行政策必须持续地促进现行的和潜在的竞争。

ＭａｒｋＤｒａｂｅｎｓｔｏｔｔ和ＬａｒｒｙＭｅｅｋｅｒ（１９９７）分析了资本在农业经济中所起的作用，总结了美国农村金融需求的三个特点，指出了美国农村资本市场存在的缺陷，并从三方面提出如何发展农村资本市场以扩大农村金融产品和服务的供给，即扩大社区银行的可贷资金；发展农村二级市场；开发农村股票资本市场。