| Known as the second land reform, collective forestry property rights systemreform gave birth to the mortgage loan using forestry property which is a financialderivatives business. The birth of the business effectively solved the problem that it isdifficult for the foresters to operate and guaranty the funds and promoted foresters’income. It also opened up credit markets for financial institutions and provided a channelto achieve the organic combination of rural financial innovation and collective forestryproperty rights system reform. After a period of development, there were a variety ofmodels of the mortgage loan using forestry property in many places, but most were forestenterprises and large-sized foresters. The development of the mortgage loan usingforestry property can not meet the needs of the majority of farmers and the contradictionof supply and demand between the difficulty for farmers to seek loans and the difficultyfor financial institutions to lend loans is becoming more significant. The model of themortgage loan using forestry property which is pointed at small and medium-sizedfarmers is still under development.This paper attempt to analyze the phenomenon form the transaction cost theoryperspective. And then find out the effective suggestions and measures to solve thecontradiction. It has quite significance for guaranteeing rural finance stability, improvinghouseholds enthusiasm for forestry production, and promoting the building of a newsocialist countryside.This paper is on the base of the knowledge and relevant academics’ existingliterature, first of all, described the concept of forest tenure mortgage loan and the theoryof transaction cost. Secondly, analyze the forest tenure mortgage loan by using thetransaction coat theory, and then analyze the5kinds of forest tenure mortgage loan’stransaction cost. Third, through field investigation, we have made the microscopic surveydata in Dayao chuxiong, Yunan. We selected the data related to this study, and then wedeveloped mathematical models and analyzed the survey data by using SPSS analysissoftware in order to determine the relationship between the transaction costs and thewillingness of forest tenure mortgage loan for households. And then we explored thewillingness of farmers which under the influence of transaction costs. Finally obtaining the research conclusion and making recommendations.Through the above analysis, we find that: First, there was a significant negativecorrelation between transaction costs and the farmers’ willingness to Forest TenureMortgage Loans. Secondly, farmers have to bear the number of transaction costs isdifferent from the different modes. Finally, the main conclusion for this paper includes:(1) The willingness of farmers’ forest tenure mortgage loan is higher, but they cannot besatisfied.(2) To reduce the transaction cost is an effective measure to affect enthusiasmof the farmer loan.(3) Transaction costs of farmers’ forest tenure mortgage are composedof two parts. Investigation showed that anticipation transaction costs is a greater impacton farmers’ behavior.(4) The model of forest tenure mortgage loan has the effect ofreducing the transaction cost. |
