借贷与鱼货的捆绑定价 ——一个渔业金融创新案例

东部沿海地区存在一种新型的民间借贷形式,鱼货收购商放贷给渔民,货币利息为零,可以用折扣价收购渔民的鱼货.这种合约通常被认为是收购商利用自己的优势地位收取了很高的实际利率,是高利贷.通过入户调查资料的分析发现,这种表面上的高利率,实际上是由于信贷合约与鱼货收购合约捆绑在一起的捆绑合约,渔民在获得货币贷款的同时,也获取了一些其他服务,扣除其他服务的价格之后,货币信贷本身并没有收取过高的利率.信贷与鱼货产品的捆绑定价是一项很有意义的金融创新,丰富了捆绑定价的理论研究.

Bundling Pricing of Private Loan and Fish Purchase:A Case of Financial Innovation in Fishing Industry

There is a new form of private loan in eastern coastal areas of China that fish buyers give fishermen a loan with zero interest rate and they ,in return ,can purchase fishermen' s fish with a discounted price .This contract is often regarded as a kind of usury with fish buyers getting high real interests by taking advantage of their dominant position in the loan .Through household survey ,this study finds the seemingly unfair usury is , in reality , a bundling contract of credit and purchase , in w hich fishermen can also get access to other services provided by fish buyers after getting a loan from them . After deducting the price of other services ,monetary credit itself does not charge exorbitant interest rates .Bundling pricing of private loan and fish purchase is a significant financial innovation ,and it enriches theoretical research on bundling pricing .