中文摘要：

新农村建设之所以要着力解决农村融资难这个老问题，原因在于农村金融市场的特殊性导致的农村金融市场发育中的市场逻辑未被认识和突破：农村金融市场存在信息不对称、抵押物缺乏、特质性成本与风险、非生产性借贷等基本问题，并带来了农村金融市场自然发育状态下的“市场失灵”和“负外部性”，为政府介入提供了充分条件。但政府介入的结果，往往以正式金融安排取代非正式金融安排，由此，又导致政府介入后的“政府失灵”。两大“失灵”，使得农村金融机构“离农化”和农村资金的“非农化”成为常态：在农村金融体制改革和研究中，应认识这一市场逻辑鼻并进行反市场逻辑的操作以彻底改变农村资金流向。

英文摘要：

The reason why great efforts have been made to solve rural financial difficulty for new countryside construction is that the market logic in the development of rural financial market resulting from the special problem of rural finance has not been known and broken through： there are such essential problems in rural financial market as information asymmetry, absence of mortgagees, special quality cost and risk, non - productive loan, etc. and these problems have made ＂market failure＂ and ＂negative externality＂ in the state of natural development of rural financial market. This offers a full condition for government intervention. Yet,the result of government intervention has always been an informal financial arrangement instead of the formal financial arrangement. ＂ Government failure＂ is hence brought forth after government intervention. These two ＂failures＂ have made a tendency of rural financial institutions ＂separated from agriculture＂ and ＂rural fund not used for agriculture＂ a natural thing. In rural financial regime reform and study, it＇s compulsory to know this market logic and to perform the operation of anti - market logic, so as to alternate thoroughly the rural fund flow direction.