中文摘要：

民间借贷风险的发生会给社会经济发展带来负面影响，必须加以有效引导与规范。本文从利率双轨制的视角分析了温州民间借贷资金的分布及存在逻辑，揭示了温州民间借贷危机形成的内在机理，并以此为依据，设计了温州民间借贷危机的治理路径。本文认为，利率双轨制是温州民间借贷危机形成的制度性动因，而信贷配给引发最优贷款利率的存在，使得正规金融市场资金供需失衡，在利率双轨制引发的赚钱效应驱动下，加大了温州民间借贷危机形成的风险集聚效应。本文建议，应从宏观和微观层面寻求解决非正规金融发展问题的路径。

英文摘要：

The civil financial risk is a thorny issue for financial industry in China, so it must be managed well. The paper analyzes the distribution and logic of the non-formal financial fund, shows the internal causes of the civil financial crisis, and projects the solutions of it. The result shows that double-level interest rate regulation is the endogenous basis of the development of non-formal financial institutions, and the optimization of interest rate makes the unequilibrium of supply and demand lending in formal financial market. Because of the profit of the double-level interest rate regulation, the civil financial crisis occurs and the process of risk accumulation are provided. So the authors give the suggestions about the solutions of non- formal financial development from the macro and micro aspect.