Study On The Impact Of Inner Monglia Microfinance On The Income Of Faemers And Herdsmen

The issue of income of farmers and herdsmen has always been a major concern of the state.As the northern frontier region of the motherland,the Inner Mongolia Autonomous Region has difficulties in financing loans for farmers and herdsmen,and difficulties in financing have severely restricted the growth of income levels of farmers and herdsmen.In order to solve the“financing bottleneck”,Inner Mongolia has vigorously developed microfinance,which has alleviated the capital constraints faced by farmers and herdsmen to some extent.As an innovation in the development of financial services in rural pastoral areas in Inner Mongolia,microfinance has become the main driving force for income growth of farmers and herdsmen.In order to deeply study the impact of microfinance on the income of farmers and herdsmen and enable them to integrate with the rural revitalization strategy,this study conducted a field survey of 306 samples from 6 counties in Inner Mongolia,and changed the income structure and income level of the respondents.Descriptive statistics are carried out,and based on the combination of theoretical analysis,three hypotheses are proposed:Hypothesis I:Microfinance is conducive to promoting the income level of farmers and herdsmen.Hypothesis II:Microfinance mainly increases the total income of farmers and herdsmen by increasing the production and operation income of farmers and herdsmen.Hypothesis III:Microfinance is more conducive to promoting the income of families in low-income groups.Using the TEM two-stage regression method to verify Hypothesis I,it is found that Hypothesis I is correct,and every 1%increase in the probability of obtaining microfinance will increase the total household income by 13.56%.Using the multiple linear regression model to verify Hypothesis II,it was found that microfinance can change the income structure of farmers and herdsmen and find that Hypothesis II is correct.Using the quantile regression model to verify Hypothesis III,it was found that microfinance is more conducive to promoting the income level of high-income groups,indicating that Hypothesis III is wrong.Based on the conclusions of the study and the problems existing in the operation of microfinance in Inner Mongolia,the following policy recommendations are proposed:Improving the microfinance guarantee system.Increasing publicity and improving policy implementation.Designing innovative financial systems,and Innovating microfinance products and services.Improve the microfinance operation mechanism.