The Research On Credit Constraint,agricultural Scale Management And Financing Mode Innovation

The promotion of farmland transferable policy is accompanied by the differentiation of the household agricultural production and operation mode.The appropriate scale of agricultural production can not only improve the income of households and improve the level of family welfare,but also optimize the resource allocation of agricultural industry based on the scale formed,and improve the competition of agricultural products in China.Force is of great significance.However,the optimal scale of agricultural operation needs to invest enough capital,the traditional farmers tend to face credit constraints,and the more wealthy farmers can relied on their own effectively to alleviate such credit constraints,but the lack of private capital farmers may be faced with credit constraints for a long time.Does the existence of credit constraints affect farmers inflow decision?Will it further affect the investment of other elements of farmers?Secondly,what will it impact on the performance of agricultural scale management?In the further deepening reform of rural finance,how can rural financial institutions better serve the households with the intention of agricultural production and management?Based on the above core issues,this paper first describes the trend of the 2010-2016 national agricultural land transfer scale and 1997-2016 year rural credit scale increasing year by year,and makes clear the basic assumptions of the credit constraints faced by the farmers in the micro data.Secondly,the study of 789 households and families in 2015-2016 of the year is used.The data,the empirical test of the impact of credit constraints on The household farm land management scale decision-making,and further test the impact of credit constraints on other elements of capital investment;and then,based on the survey of household data,the empirical test of the impact of credit constraints on the performance of the household agricultural scale performance,compared to non credit constrained farmers.The relationship between farm land scale and agricultural production efficiency and scale economy under credit constraints is analyzed.Finally,this paper analyzes the influence factors of credit constraints in the process of agricultural production and management in the perspective of agricultural capital endowment,and analyzes the existing domestic financial innovation agricultural and land financial experiments on the household agricultural credit constraints.Based on the analysis of the influencing factors of credit constraints,the possible agricultural financing innovation mode is put forward.Research Contents I:Description of the current situation of agricultural scale management and rural financial marketFirst,we use macro and micro research data to reveal the current situation of agricultural scale operation and credit market.The macroscopic descriptive statistics show that the area of rural land transfer,the number of more than 50 mu of farmers,the financial service outlets in the county,the loan of institutions and the number of the household loans are increasing.With the help of the survey sample data in Jiangsu,Hunan and Jiangxi,the results show that the satisfaction degree of credit demand funds is not up to 50%at the present stage,and the credit constraints are more than small farmers and large farmers face a greater degree of credit constraints if the credit demand is fully satisfied with the credit constraints.Research Content II:The impact of credit constraint on the household investment in agricultural scale operational factorsBased on the hypothesis of credit constraints that farmers face above,the impact of credit constraints on The household input decision of agricultural production factors is analyzed.First,the regression results of limited Tobit model show that credit constraints have negative effects on the household inflow to farmland scale,which shows that the average inflow of farmers is less than that of non credit restricted farmers by credit constraints,and the mean decrease of 150 mu.Therefore,credit constraint has a significant negative effect on the scale of farmland input.Credit constraints do not significantly affect the capital cost of other factors of household production.The reason is that farmers are not subject to credit constraints because they reach the profit maximization level of production.Theoretically,agricultural production by credit constraints did not reach the optimal input point of profit maximization.Credit constraints will produce two kinds of impact mechanism on the investment of other elements of farmers.On the one hand,it is the change of capital investment and the substantial reduction of the physical input.On the other hand,it may be the high cost of physical input.Therefore,credit constraint reduces the household unit factor capital investment,but it is not significant.Research Content III:Analysis of impact of credit constraints on the household agricultural scale performanceBased on the results of the analysis of the impact of credit constraints on the investment decision of the household factors in the last chapter.The endogenous transformation model is used for empirical analysis,and the conclusion is:this paper further studies that:compared with untrusted farmers,the expansion of the household land scale by credit constrained farmers will not reduce the per mu yield,i.e.,farmland productivity,on the contrary,the unit output level of the household rice cultivation is significantly increased.Therefore,under the control of farmland abandonment,the existence of credit constraints does not significantly restrict the realization of the national grain quantity security policy objectives.That is to say,under the condition that the cost and output are difficult to take into account,the allocation efficiency of rural land resources by credit constraints is not affected by credit constraints.Secondly,theoretically,credit constraints will cause the household agricultural production to fail to achieve the optimal input point of profit maximization.The results of empirical analysis show that credit constraints do not significantly reduce the household other capital input in agricultural production.The possible reason is that one is that farmers gain the optimal level of factor investment through their own capital accumulation or other external financing channels,and the second is to optimize the elements through the purchase form of commercial credit,and the third may be the increase of the household employment to alleviate the liquidity constraints.The influence of capital investment.Therefore,the credit constraint did not significantly reduce the household unit land input funds.Research Content IV:Empirical analysis of the household credit demand and credit constraint mechanismWith the help of the survey data,the characteristics of the household formal credit and informal credit are analyzed,and further studies are carried out with formal credit constraints,and the credit motivation,the potential credit demand,the actual credit demand and the actual acquisition conditions are described and statistically analyzed.According to the empirical results of the influence factors of credit constraints,the conclusions are as follows:first,farmers who flow into the agricultural land tend to sign a formal land contract,and the current rural financial market can not affect the credit acquisition of farmers,indicating that the threshold of using land mortgage technology for credit is far higher than the signing of agricultural land contracts.Second,the longer the surplus period of farmland management right,the increase of the household credit demand,to a certain extent,represents the agricultural production level and the level of agricultural investment demand.However,it is not the technical threshold for credit providers to lend.Therefore,it increases the probability of obtaining credit for farmers,but it does not make farmers get all the amount of credit.Third,it often has hard indicators and conditions to join the agricultural cooperation organization,and the farmers have more abundant agricultural resources and capital endowments,which increases the potential credit demand of farmers.However,the formal financial market did not make effective use of such organized capital.Farmers knew they could not get credit,so they abandoned the application loan.And farmers who apply for credit can't get all the credit or part of the credit through the agricultural cooperation organization.Research Content V:An Empirical Study of the Impact of Financial Innovation on Rural Family EntrepreneurshipFirst of all,this paper expounds the possible agricultural credit development model with the existing examples of credit innovation in China,and contrasts the difference of the household credit matching in the pilot and non pilot areas of the agricultural land financial model,and verifies the effect of the incentive and credit constraints on the potential credit demand of farmers.According to the empirical analysis results of bivariate probit model,the conclusion is:The innovation of the land mortgage loan model lies in the use of the risk sharing model to alleviate the adverse selection and moral hazard in the credit market,providing credit for farmers who have the desire for agricultural scale management and lack of collateral,which is difficult to obtain loans from the regular financial institutions,which has effectively increased the land mortgage.The potential credit demand of farmers in the pilot loan area also reduces the credit constraints of the demand side and the supplier side.This paper argues that the mode of farmland mortgage loan can also be further expanded,and try to expand the loan support mode of rural land loan to expand credit support for small-scale farmers.At the same time,the deepening exploration of rural land mortgage should also change the different adaptability of loan technology according to the actual situation of economic and social development in rural areas.On the basis of the existing credit mode,farmers with a certain agricultural land scale can obtain some credit support and deepen the innovative credit model to meet the different agriculture.The credit demand of farmers in the stage of scale.Although the farmers with a certain scale can provide effective collateral and guarantee conditions,all the credit demand is not easy to meet.The rural financial institutions should innovate the credit loan technology of different types of farmers from the aspects of innovative mortgage and guarantee technology,thus effectively alleviating the credit constraints faced by farmers.Finally,based on the influencing factors of the agricultural credit supply and demand constraints,the possible innovative models of agricultural credit are designed," financial institutions+land of group+farmers" and "financial institutions+rural capital companies guarantee+farmers".Based on the above research conclusions,the relevant departments of the rural financial market should take market as the guidance,innovate financial products and credit technology for rural areas,cultivate rural community financial institutions,promote the community-based financial resources,accelerate the construction of the household credit system,cultivate the financial ecological mechanism,and establish the risk supplement.compensation mechanism.