中文摘要：

农民贷款难长期制约农村经济发展，其症结何在以及如何解决？笔者在评述相关研究文献的基础上，从征信成本的角度，分三个层面对不同融资形式的风险承担主体和风险规避方式进行研究，分析得出融资风险规避的一般规则。首先从融资方式看，无论直接融资还是间接融资，融资风险均由投资人承担，直接融资的风险承担主体是股东或债权人，间接融资的风险承担主体是银行；其次从风险承担主体看，通常情况下直接融资的征信成本相对较低，而间接融资的征信成本相对较高；最后从征信成本看，如果征信成本足够低，投资人可接受“信用”抵押，如果征信成本过高，投资人则会要求以“财产”作抵押。由此为解决农民贷款难问题提供一个新的分析视角。在理论阐释的基础上，笔者进一步结合当前我国农民的财产状况分析农民贷款难的具体原因，从政策层面提出对策建议并进行可行性分析。

英文摘要：

Farmer＇s loan difficulty has restricted rural problem＇s crux and how to solve it？ Based on the comments on the risk bearer and the way of risk aversion of differen point of cost of credit investigation. Through the analysis, sion. Firstly, from the financing way, no matter what kind economic developm of relevant research ent for a long time. What＇s the documents, this article studies t financing mode divided into three levels from the the article arrives at the general rule of risk averof financing, the risk is undertaken by the investor. Specifically, in direct finance the financing risk is taken by the shareholder or the creditor and the risk subject of indirect finance is the bank. Secondly, from the risk subject, normally the cost of credit investigation of direct finance is lower while the cost of credit investigation of indirect finance is higher. Lastly, from the cost of credit investigation, the investor can accept credit guaranty when the cost of credit investigation is low enough and the investor will demand property mortgage if the cost of credit investigation is high. Thus the general rule provides a new perspective for solving farmer＇s loan difficulty. Based on the theoretical interpretation, this article seeks out the concrete causes of farmer＇s loan difficulty combined with farmer＇s property status. Accordingly, the suggestion and feasibility analysis of countermeasures are presented