摘要
金融扶贫政策在助力我国实现脱贫攻坚中具有重要作用。本文考虑了由单一资金受限合作社与单一企业组成的订单农业供应链,构建了供应链内部融资、银行融资、财政贴息、风险补偿金四种合作社融资模型,就扶贫政策存在的必要性、扶贫政策应资助的对象类型以及不同扶贫政策的适用条件等问题进行了深入分析。研究发现,当产出风险很小且企业资本成本较低时,合作社会采用供应链内部融资模式,此时合作社和企业的利润与社会福利都高于银行贷款融资模式;反之,会选择从银行贷款,此时对于具有“高成本、低产出”特征的农产品,政府扶贫可以同时提高合作社和企业的利润,增加社会福利。结合三亚和泉州两个地方政府的扶贫实践对比两种扶贫模式,发现若产出风险较小,则政府贴息扶贫模式下政府支出更多,合作社和企业的利润以及社会福利更高,反之,风险补偿金扶贫模式下政府支出、合作社和企业的利润、社会福利会更高。
Financial policies play an important role in the cause of poverty alleviation.This paper focuses on the contract farming supply chain composed of a capital-limited cooperative and an enterprise,and constructs four financing modes:internal financing of supply chain,bank financing,financial discount and risk compensation.This paper makes an in-depth analysis of the necessity of poverty alleviation policies,types of receivers and the applicable scenes of different poverty alleviation policies.It is found that if the uncertainty of output and capital cost of enterprise are low,the cooperative will adopt the internal financing mode,where the profits of the cooperative and enterprise,and the social welfare are much higher than the bank financing mode;otherwise,the cooperative will choose to borrow money from banks.For agricultural products featuring“high cost and low output”,government poverty alleviation can increase the profits of the cooperative and enterprise,and social welfare at the same time.As for the latter two modes,taking the poverty aid practice in Sanya and Quanzhou as an example,we find that if the output uncertainty is low,the government expenditure will be higher under the financial discount mode,while the profits of the cooperatives and enterprises,and social welfare will be also higher.The same is true under the risk compensation mode if the output uncertainty is high.
作者
曹裕
戴泽宇
吴堪
CAO Yu;DAI Ze-yu;WU Kan(Business School,Central South University,Changsha 410083,China)
出处
《运筹与管理》
CSSCI
CSCD
北大核心
2022年第7期131-138,共8页
Operations Research and Management Science
基金
国家自然科学基金项目(71972182)
湖南省杰出青年科学基金项目(2020JJ2051)
湖南省科技创新领军人才项目(2021RC4007)
湖南省教育厅基金项目(19B041,21A0547)
长沙市哲学社会科学规划课题(2022csskkt100)。
关键词
农业供应链
扶贫
融资模式
财政贴息
风险补偿金
agricultural supply chain
poverty alleviation
financing model
financial discount
risk compensation
