Research On The Impact Of Village Organizations On The Availability Of Financing For Rural Households

Solving the problem of financing difficulties is an important link in the realization of rural industrial upgrading and rural revitalization,and it is also the main goal of the reform of the rural financial system.In recent years,the market-oriented reform of rural credit cooperatives and the emergence of new types of rural financial institutions have eased the financing difficulties of farmers to a certain extent,but the effect has not been satisfactory.The further improvement of the rural financial environment is inseparable from the overall development of the rural economic and social environment.In the process of advancing the diversification and modernization of rural governance,the quality and quantity of various village organizations have been significantly improved,and diversified rural financial model innovations involving various village organizations have also emerged,which is improving the availability of financing for farmers.Played an important role.Therefore,in the context of vigorously alleviating the difficulty of rural financing,deepening the analysis of the financing effects and heterogeneity of various organizations will not only help to clarify the potential role of rural organizations in improving the availability of financing for farmers,but also help Innovating rural financial models based on local conditions,formulating and perfecting developmental financial support policies for farmers that "release supply capabilities through demandside reforms".This article attempts to analyze the impact of various village organizations on the availability of financing for farmers,including the following five core parts.First,the establishment of a financial "social intermediary" analysis framework for village organizations to influence the availability of financing for farmers.On the one hand,after a brief review of financial intermediary theory,based on contract theory and comparative institutional analysis theory,a financial "social intermediary" analysis framework was established,emphasizing the role of social organizations in the allocation of intermediary resources.On the other hand,it sorts out the connotation and evolution process of various village organizations such as traditional village organizations,village committees,and rural social organizations,and compares their characteristic attributes.At the same time,it examines the role of village organizations in rural financial practices at home and abroad.On this basis,the theoretical logic of village organizations playing the role of financial "social intermediary" is put forward.Secondly,under the concept of financial "social intermediary",an analytical framework was established to explain the diversified innovation of rural financial models,and focused on solving the lack of theoretical grasp of "adjusting measures to local conditions" caused by "insufficient integration" in the current analysis of rural financial models.Hand problem.As a third party that bridges the "financing condition distance" between financial institutions and farmers,village organizations have two potential functions:"development" and "supervision".The differences in per capita income levels and heterogeneity between villages mean that the main shortcomings of the financial demand side and their specific needs for the combination of village organization functions will also be different.Through the comparative analysis of three typical rural financial innovation cases,while verifying the theoretical propositions,it also discusses the changes between different models.Thirdly,under the unified framework of traditional village organizations affecting farmers’ formal and informal borrowing transactions,based on the China Family Tracking Survey(CFPS)data,it is found that the development of village traditional organizations is generally conducive to improving the availability of informal financing for rural households.The crowding-out effect will reduce the availability of formal financing for farmers.Further analysis shows that the status of village population mobility will make the "intermediary" role of village traditional organizations present a U-shaped distribution,and as the proportion of migrant workers increases,village traditional organizations may also have an impact on the availability of formal financing for farmers.There are also differences in the roles of the two types of traditional organizations:clan and religion,which will have a positive impact on the availability of informal financing and formal financing for rural households.The reason is the "strongweak relationship"in the traditional organizations of different villages.Then,it theoretically analyzed the mechanism of the impact of the public expenditure level reflecting the governance performance of the village committee on the availability of farmers’ financing,and discussed the role of open village affairs and the moderating role of clan organizations in it,using the Chinese Family Tracking Survey(CFPS)The relevant hypotheses were verified.The empirical results found that:First,village public expenditure can significantly promote the availability of informal financing of farmers,because the former can increase the level of pre-investment and trust of farmers.Second,the impact of the level of public expenditure on the availability of informal financing for rural households will be restricted by the degree of openness of village affairs and the level of development of village clan organizations.Third,the level of public expenditure can also have a significant positive impact on the availability of formal financing for rural households,but the premise is that the distance between rural households and financial institutions is relatively close.Finally,it is theoretically concluded that rural social organizations can influence the availability of agricultural financing through the two functions of "development" and"supervision".In the empirical design,the group of "financing demand,financing constraints,and financing availability" can be integrated.On the basis of indicators reflecting the supply and demand pattern at the micro level,the empirical test of the three types of agricultural financing channels:formal financing,informal financing and commercial credit using national household survey data shows that:First,village social organizations can have a significant impact The availability of formal agricultural financing is mainly due to the increased financing needs of farmers.Second,the abovementioned effects have a regulation effect on farmers’ income.Village social organizations mainly affect the availability of formal agricultural financing for highincome farmers and the availability of informal agricultural financing for low-income farmers.Third,there are differences in the influence channels between for-profit and non-profit social organizations.The former mainly affects the availability of formal financing of farmers through the "supervision" function,while the latter mainly uses the"development" function to obtain agricultural commercial credit financing.And agricultural financing needs have a significant impact.The conclusions of this article have the following policy implications:First,the current important factor restricting the access of rural households to loans is that rural households have a low level of organization,and factors such as population movement have damaged the village’s organizational capacity,leading to higher credit risks in rural households’ loan transactions.Therefore,alleviating the problem of rural households’ loan difficulties cannot only rely on the market-oriented reforms of financial institutions and fiscal and monetary policies aimed at reducing capital costs.More attention should be paid to the improvement of the level of rural households’organization,the establishment of financial support for agriculture and the improvement of rural cooperative economic organizations and non-profits.A benign interaction mechanism for the quality of social organizations and the organization of the two village committees.Second,promote the innovation of rural financial models involving various village organizations in accordance with local conditions.The development of village organizations can promote the formal and informal financial lending transactions of rural households.Therefore,the choice of developing commercial finance-led financial models or cooperative finance needs to follow the principle of adapting measures to local conditions.And take population mobility factors and per capita income level as an important basis for the selection of rural financial models in accordance with local conditions.Third,timely guide changes in rural financial models.The role of the rural financial model in solving the financing problems of rural households is state-dependent,and its transaction costs will vary with the changes in the transaction environment and the characteristics of the traders.With the development of social and economic conditions,the risk control advantages of the original financial model may disappear.It is necessary to ensure the orderly replacement of financial model innovation.