Research On The Impact Of Livelihood Capital On Farmers' Formal Credit Availability

The issue of "agriculture,rural areas and farmers" is a global issue concerning the national economy and the people's livelihood.Without the modernization of the countryside,there will be no modernization of the country.At present,China's "agriculture,rural areas and farmers" has entered an important stage of transformation and development.Fararmers' demand for funds is very strong,and credit funds are an important source of"agriculture,rural areas and farmers" funds investment.However,China's rural financial development has lagged behind for a long time,and the supply and demand of credit funds are unbalanced.It is necessary to promote more formal financial resources allocation to key areas and weak links in rural areas to better meet the needs of farmers for financial resources.It is of practical significance to study whether livelihood capital has an impact on the formal credit availability and loan quota of farmers and its influence degree for improving farmers' own endowment,alleviating the formal credit constraints of farmers,improving the rural financial service system and realizing rural revitalization.Farmers'access to credit funds has an important supporting role in broadening rural income-increasing channels and promoting rural modern economic development.Whether a farmer can obtain formal credit funds depends largely on the five livelihood capitals of the farmer's natural capital,human capital,social capital,financial capital and physical capital.Under the framework of livelihood capital,the paper uses the data of China Family Panel Studies and the data of independent research to measure the livelihood capital of sample farmers in the eastern,central,northeastern and western regions of China.The measurement results show that the farmers in the western region have human capital and finance.The capital,social capital and physical capital value are lower than other regions;the human capital,physical capital and financial capital of farmers in the eastern region are higher than the other three regions;the difference in social capital measurement between farmers in each region is not significant.The empirical results of the Logistic model on the formal credit availability of fanners' livelihood capital in different regions show that the financial capital of farmers has a significant positive impact on the formal borrowing opportunities of farmers.The degree of health has a significant positive impact on the formal credit availability of farmers,and it has not passed the significance test.On the basis of the logistic model test,the multivariate linear regression model is used to test the impact of various living capital on the formal borrowing quota of farmers.The test result shows that the influence of financial capital on the formal borrowing quota is almost the same,and physical capital,human capital and social capital are a certain difference in the impact on formal borrowing quota of farmers.In general,for rural households in the same region,the impact of livelihood capital on the acquisition of formal credit and the amount of borrowing is significantly different.The impact of livelihood capital among different regions on the farmers' borrowing behaviors is different.