关键词: 农村金融, 银行市场结构, 信贷约束, 民间借贷, 农民创业

Abstract: Based on the 2013 and 2015 microdata of China's Household Finance Survey and bank branches distribution data disclosed by China Banking and Insurance Regulatory Commission, this paper empirically analyzes the impact of regional financial development on farmers' entrepreneurial behavior, as well as the heterogeneous effect of different types of financial institutions and regional financial markets. Results show that (1) the increase of bank branches will significantly reduce farmers' financial constraint and their probability of taking private lending, promote their entrepreneurship; (2) the credit behaviors of different financial institutions are significantly different, and new rural financial institutions can effectively improve the internal governance of rural credit cooperatives and increase the effect of supporting farmers; (3) regional banking concentration can negatively influence the role of benefiting policies of large stateowned banks and new rural financial institutions. This paper argues that promoting farmers' entrepreneurship cannot only rely on the benefiting policy or the reform of rural credit cooperatives. It is necessary to stimulate financial institutions to improve agricultural support services on the basis of building a competitive financial market.

Key words: rural finance, banking structure, credit constraint, private lending, farmers' entrepreneurship