关键词: 地方政府, 农信社, 信贷资源, 错配

Abstract: As the rural credit cooperative(RCC) is again under the direct governance of local governments,the financial supply of the RCC deviates far from the traditional rural finance.If local governments try to intervene with the credit allocation of the RCC,the involved risk cannot be simply ignored.This paper from the perspective of political economy conducts an economic analysis of the credit allocation mechanism of the RCC and indicates that with the intervention of the local governments,the RCC may misallocate its credit supply and the local protectionism may further aggravate the degree of misallocation.This paper suggests that the external financial supervision should be adopted to alleviate the local protectionism so that the credit misallocation of the RCC can be ameliorated.

Key words: local government, rural credit cooperative(RCC), credit supply, misallocation