Hunan Rural Financial Development And Farmer Income Growth:an Empirical Study

Hunan in the promotion of the comprehensive construction well-off society’s construction in the process, how to increase farmer income to become Hunan to promote economic and social development of the major issues. Needless to say, since reforming and opening, Hunan rural economic reform has made great achievements, especially in the income of the farmers have greatly improved, become a major highlight of the reform. However, with the economic system reform, the current Hunan rural financial restraint, financial services to meet the needs of rural economic development issues such as the phenomenon, so that the whole financial system function is weakened, eventually suppressed the growth of farmer income, which is why in recent years in Hunan urban and rural residents income gap expands ceaselessly, farmer income level is low speed growth one of the important reasons. This article is based on the Hunan province rural finance development reality, in-depth analysis of rural financial resources allocation in farmer income growth function, hope to be able to on the basis of energy through the phenomenon to find some measures, to achieve better and faster development of the rural economy of Hunan. Through the application of econometric methods, from three aspects (Hunan rural financial development scale, rural financial development, rural financial development efficiency) in-depth discussion of the Hunan financial system development to the Hunan rural per capita net income effect. At the same time, in the empirical analysis by introducing the Granger causality test, unit root test, cointegration test concluded, Hunan rural financial development and growth of Hunan farmer income between the long-term cointegration relationship, of which Hunan rural financial development efficiency to promote farmer income growth plays a key role, but the conclusion is not established, that farmer income growth is not the rural financial development efficiency of Granger causes farmer income growth; in fact the real cause is the rural finance development scale; in order to verify the farmer income growth motivation, an empirical analysis of rural financial development is the growth of farmers’ income structure of Granger reasons, farmer income growth is not the development of rural financial structure Granger the result. In this paper, through empirical research, analyzed Hunan to realize the growth of farmers’ income, need thorough reform of rural financial system, rural informal finance plays the leading role and strengthen the policy of supporting role, thereby improving the rural informal finance development is the future development path selection.