Analysis Of The Income Effect Of Farmland Mortgage Loan By Differentiate Farmers

Since China gradually liberalized its agricultural land mortgage business in 2009,the trial of agricultural land mortgage loans has been rapidly launched nationwide.This type of financial products essentially grants farmers land mortgage rights,realizes capitalization of financial market assets in rural areas,and provides financial support for agricultural production activities,reduce transaction costs and other costs,improve rural agricultural productivity in China.Current research has conducted extensive research on the impact of demand,etc.but less research on different types of farmers,moreover,the definition of peasant household differentiation is mostly based on income and so on,without systematic analysis.The study measures farmer household differentiation in terms of livelihood assets through factor analysis,and then uses PSM to analyze the impact of loans on farmer income.Studies show that age,family education,and per capita land management area of households,the credibility of financial institutions,and the availability of agricultural machinery are still important factors affecting their participation in farmland mortgage loans;Farmers' participation in loans has promoted the improvement of their income levels: only the annual agricultural income of “asset-sufficient” farmers has a promotion effect.There is no promotion on income of “average asset-level” farmers.The total annual income and annual agricultural income of the “asset-poor” farmers have a promotion effect;The effect of agricultural land mortgage loans on improving agricultural income shows an "U"-shaped change with the increase of farmers' livelihood assets: loans promote the differentiation of farmers 'income levels to a certain extent,resulting in uneven income growth: The increase in the agricultural income of the “asset-sufficient” farmers is higher than that of the “asset-scarce” farmers in terms of quota and proportion,which enlarges the “Matthew Effect” and increases the income gap.Put forward suggestions: First,establish an effective network of property rights trading institutions,speed up the introduction of loan risk prevention and so on;Second,the implementation of loans must have both targeting and diversification,innovative product design,and adopt policy bias,etc.Third,adjust the use and scope of loans to help farmers with different asset levels adjust their production structure,close the income gap and promote balanced development.