Importância das Cooperativas de Crédito para Fornecedores de Cana-de-açúcar: um estudo de caso

This paper analyzes the importance of cooperative institutions in the Brazilian market of rural credit, focusing on the vision of those who demand loans. For that, a study case was promoted regarding the Rural Credit Cooperative of Sugarcane Suppliers and Cattle Farmers in the Piracicaba Region (Cocrefocapi). The main objective is to show the importance of Cocrefocapi to finance sugarcane suppliers from Piracicaba, analyzing the influence of some factors in the decision of sugarcane suppliers, in order to choose this cooperative as the main financing institution. Two econometric models of qualitative response and a set of descriptive analysis were developed in this study. Results show that the land size is one factor which should be included when the demand for agricultural credit is analyzed. In addition, the econometric evidence shows that, bigger participation in the institutional capital of Cocrefocapi is not a factor which incentives members to borrow money in this Cooperative. On the other hand, although sugarcane suppliers who took loans in Cocrefocapi have chosen this institution because of lower transaction costs, results demonstrate that many of these people took loans in other institutions because they had other economic activities, which are not financed by Cocrefocapi.

本文探析巴西农村信贷市场中合作金融机构的重要性，研究视角聚焦于信贷需求群体。为此，本研究开展了针对皮拉西卡巴地区甘蔗种植户与养牛户农村信贷合作社（Cocrefocapi）的案例研究。本研究的核心目标在于阐明Cocrefocapi对皮拉西卡巴地区甘蔗种植户开展信贷融资的重要价值，同时剖析影响甘蔗种植户选择该合作社作为主要融资机构的各类因素。本研究构建了两类定性响应计量模型，并开展了一系列描述性统计分析。研究结果表明，土地规模是分析农业信贷需求时必须纳入考量的核心因素之一。此外，计量实证结果显示，社员对Cocrefocapi机构股本的持股比例更高，并不会成为激励社员在该合作社办理信贷业务的动因。另一方面，尽管在Cocrefocapi办理信贷的甘蔗种植户选择该机构的原因在于其更低的交易成本，但研究结果同时显示，其中不少农户仍会在其他金融机构办理信贷业务，原因在于他们存在Cocrefocapi未提供融资服务的其他经济活动融资需求。