民间借贷作为一种古老的融资方式 ,在金融日益繁荣的今天 ,仍然具有顽强的生命力 ,这其中既有传统观念的影响 ,更受金融服务局限性的制约 ,根源还在于现行的制度安排。本文通过对当前民间借贷的调查 ,认为民间借贷的比较优势在于其相对于正规金融更低的交易成本和更直接的自发激励机制 ,并就规范民间借贷和改善金融服务提出了相应建议。 As an ancient means of financing, private lending still has tenacious vitality in today’s increasingly prosperous finance. This not only has the influence of traditional concepts, but also is limited by the limitations of financial services. Its origins lie in the current institutional arrangements. Based on the survey of current private lending, this paper argues that the comparative advantage of private lending lies in its lower transaction costs and more direct spontaneous incentives relative to formal finance, and puts forward corresponding suggestions on regulating private lending and improving financial services.