The Study on the Effect of Formal and Informal Rural Finance on the Income of Rural Residents—A Spatial Econometric Analysis Based on the Panel Data of 30 Provinces
利用2003-2010年中国30个省份数据，通过面板分位数回归发现农村非正规金融显著促进农民收入增长且有助于缩小贫富差距，而正规金融作用不显著。
Using the data of 30 provinces in China from 2003 to 2010,this paper explores the effect of formal and informal rural finance on the income of rural residents,and analyzes the difference of the effects in different income level by applying panel quantile regression.The results shows that there is a spatial polarization in rural residents' income and the spatial spillover effect is obvious.Rural informal finance promotes the growth of farmers' income significantly while the rural formal finance does not.The promoting effect gets weaker as the rural residents' income increases, which indicates that rural informal finance contributes to narrowing the gap between rich and poor.