| The fiscal and financial policy for supporting agriculture is the strategic measures to promote the Agriculture and rural economic development in the developing country. Enlarges supporting agriculture dynamics with the fiscal and monetary policy in China since2004, and we make great progress on the issues of agriculture, farmer and rural area. In order to seize the effects and issues of the policy and adjust the policy, it is necessary to conclusion and analyze the fiscal and monetary policy for supporting agriculture. Based on this, we use the 30 provinces panel data to analyze and the results are as follows: The Effects of the fiscal and financial policy for supporting agriculture is positive, and the effect of the fiscal policy is better than the monetary policy, and the effect became stronger after 2004. On the contrary, the effect of financial policy is decreased after 2004. Furthermore, the effect of the fiscal and financial policy has the spatial variation. In the end, this article gives mentality to adjust the policy.A. Research conclusionsa.Fiscal and financial policy for supporting agriculture works well but there are strong or weak effect. During 1997 and 2008, fiscal and financial policy for supporting agriculture had significant positive effects on rural economic development, but compared with the financial support to agriculture policy, Fiscal policy role in promoting rural economic development is more important. Lack of capital is the constraint of the key factors in rural economic development, and to some extent, implementation of fiscal and financial policies for supporting agriculture helps ease the development of agriculture and rural incomes capital bottlenecks.b. Effects of fiscal and financial policy for supporting agriculture exist period differences.1997-2003 compared with 2004-2008, after 2004 Fiscal policies to promote rural economic development effect of significantly strengthening, and after 2004 policy effects of fiscal and financial support for agriculture has been strengthened, but subject to imperfect rural financial system constraints, compared with the effect of fiscal policies for supporting agriculture, the effect of financial policies for supporting agriculture is small and weak, financial policy for supporting agriculture in promoting the rural economy has a certain degree of uncertainty. This conclusion does not negate our financial policies to support agriculture and rural economic development, the need for precisely that it reveals the Government's current policies are not errors, but confirmed the lack of scientific and reasonable of the rural financial system which led to the fact that the low efficiency of financial policies for supporting agricultural exists.c..Effects of fiscal and financial policy for supporting agriculture exist regional differences. In the natural geographical and socio-economic conditions of the reality of a significant difference in the context of policy effects of fiscal and financial support for agriculture there are obvious regional differences. Relatively strong financial strength of the local east, its financial support for agriculture is much stronger in central and western regions; due to the nature of "Xian pin ai fu" in finance and rural financial reform lags behind the impact of policies on financial support to agriculture in rural economic development in West China Role in promoting not only significant, but also the weakest of the three regions.d. The overall fiscal and financial policies for supporting agriculture efficiency is low, and there are differences in time and space. Good agricultural support policies is the premise to guide the flow of funds in rural areas, but the agriculture policy is running good or bad determines the strength of agriculture. Overall, fiscal and financial policies for supporting agriculture is still running a low level, and to the target there is a gap; the period from the sub see, running performance in the agriculture policy is more stable between 1997 and 2003, during which a small margin rise, also in the relatively stable between 2004 and 2008 but declined slightly; from a regional point of view, relative to the eastern and central regions, the western region of the running fiscal and financial policies for supporting agriculture is lower than the national average performance during 1997 and 2008 in average, and the production technology frontier in the provinces is also lower than the national average.B. Policy Recommendationsa. Sound fiscal and financial policies for supporting agriculture, develop the Rural Economy. Governments at all levels must conscientiously implement the Party Central Committee Document No., to continue to increase investment in agriculture, rural production investment, give full play to financial resources and policy "skillfully deflected the question"role, to guide social capital into new rural construction, and promote urban and rural development Process. Specifically, include the following three aspects:firstly, the consolidation of the existing fiscal and financial support for agriculture policy. It is to adhere to the country's existing policy of fiscal and financial support for agriculture, should not be shaken, it is to consolidate the agricultural and rural economic development. Should ensure that the main mechanism of the existing normal operation of agricultural subsidies so that farmers really benefit and strengthen policies for supporting agriculture to agriculture and rural areas of the introduction of regulatory capital, and resolutely put an end to any form of interception, misuse and misappropriation. Secondly, improve the fiscal and financial support for agriculture policy. It is based on real needs to adjust and improve the fiscal and financial support for agriculture policy. Industrial agriculture is weak, the rural social economy is relatively backward, self-development capacity is limited, therefore, to change the status of the rural and the rural economy, all levels of Party committees and governments must follow the natural law, economic law, to increase and improve the timely policy to support agricultural development measures. Thirdly, to strengthen the fiscal and financial policy supporting for agriculture. It is necessary to increase the size of agriculture, and to improve the magnitude of agriculture. Inferiority bound of Agriculture can not develop without government support. Therefore, governments at all levels should strive to achieve the central agriculture requirement "volume continued to increase, the proportion steadily increased," to support and benefit agriculture policy to a greater effect.b. sound the rural financial service system, improve the effect of financial policy for supporting the agriculture. The empirical results show a lack of scientific and rational rural financial system can cause the low efficiency of financial policy for supporting agriculture, therefore, we should focus on improving the rural financial system to improve the effect of financial policies supporting for agriculture. "Xian pin ai fu" is the financial profit-driven nature, and beyond reproach, the Government has to do is to establish and improve the existing rural financial system in order to achieve sustained and effective mobilization of various financial institutions the "Agriculture" initiative. Mainly from the following four aspects:firstly, improve the rural loan approach. Encourage the rural financial institutions to put the new deposit mainly in the local, to support the rural economic development in this field, to prevent the outflow of financial resources. Secondly, innovative rural financial institutions and the rural financial products. Through the improvement of the division of labor reasonable, competitive and orderly diversification of the rural payment service organization system, rural credit cooperatives in rural areas play the leading role of payment services and other financial institutions active role in encouraging rural banks and other new-type rural financial institutions to join a modern payment system business processes to improve their pay and efficiency of the automation level; for rural financial needs, speed up rural financial institutions and organizations in rural financial products innovation. Thirdly, the implementation of rural financial institutions have different financial policies. Step involves the introduction of specific measures for the following three aspects, namely, agriculture-related loans to targeted tax breaks and cost of subsidies, financial policy and long-term credit support for agriculture and rural credit cooperatives to carry out co-pilot. For example, the implementation of low barriers to entry and a number of special policies different from those of commercial banks. China's rural financial institutions in the minimum registered capital, reserve, capital adequacy ratio and so on has lower requirements than commercial banks, the lower the threshold create the conditions for capital inflows and the establishment of rural financial institutions in rural areas. Fourthly, accelerate the establishment of agricultural reinsurance system and spread catastrophic risk of financial support mechanisms to encourage mutual assistance and cooperation of insurance and commercial insurance business in rural development. Explore the establishment of rural credit and agricultural insurance combined bank and insurance mechanisms for interaction.c. Implementation of different policies between the fiscal and financial support for agriculture to enhance the targeted. Since the implementation of fiscal and financial policy exist regional differences, develop agriculture and the benefits of agricultural policy must take full account of the characteristics that is the various regions of the model can not be across the board, must be adapted to local conditions, the development of targeted policies and systems. On the one hand, fiscal policy to increase urban and rural areas of central and western regions of support, to prevent the gap between the economic base caused by the unfair and promote the coordinated development of all regions; on the other hand, give the less developed central and western rural areas open Channels of financial support in many ways, make full use of development finance with the financial policies to guide local economic development.d. To promote fiscal and financial support for agriculture policies, the policy efforts to increase agriculture. Single fiscal and financial policy for supporting the agriculture can not be fully realized for rural economic development of the requirement to provide strong financial support, and effective policy with fiscal and financial support for agriculture is the way to improve the effect of agricultural support policies effective. In addition, to play the efficacy of fiscal and financial policies for supporting agriculture, and focusing on the cooperation between them can result in increasing financial support for agriculture policy, while continuing to effectively mobilize the "Agriculture" initiative of the various financial institutions. Specifically from the following two aspects:firstly, the need to improve the financial self-pricing, credit subsidies, tax incentives, targeted cost subsidies, incremental incentives and sound problems of rural financial institutions and other macro-system construction exit mechanism for financial services in the "three rural" to provide continuous positive incentives. Secondly, the central bank and the Ministry of Finance carry out financial support to agriculture and the specific integration of financial support for agriculture, that is measured by the central dynamic of rural financial markets in different periods of the fair interest rate and loan interest rates reasonably determine the support for agriculture, the difference between the two by the subsidies or compensation of the financial sector.e. Strengthen the supervision of the running of agriculture policy to improve the policy performance. The running performance of agriculture policy is to run the "quality" measure, and to determine the effects of policies supporting agriculture. Therefore, in the background of new realities, agriculture policy should innovate performance management concepts, fully aware of the running performance that is to grasp the grasping policy of supporting agriculture and agriculture investment results, and through the development and implementation of agricultural support policies with the whole process. Effectively to the formulation of fiscal and financial policies for supporting agriculture and agriculture policies as important as monitoring the performance of running the place. Establish and improve the implementation of the budget system and the progress of implementation of the policy evaluation system in agriculture, continue to implement and improve the reimbursement system, the publicity system, management system and so on expert review. Strengthen the appraisal system of agriculture Policy, and make the progressive realization of agricultural support policy development and performance appraisal linked. Full use of the grass-roots level financial and rural financial institutions has for the first line of regulatory authorities to understand the actual situation of the advantages, gives it more regulatory responsibilities to improve the financial performance of the implementation of the operation of financial support for agriculture, and better for the funding of agriculture and rural areas economic development. |
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