Study On Mortgage Loan Of Forest Right In Guangdong Province

At present,forestry in China is still weak in production and financing,and forestry is facing the dilemma of capital financing.The new round of collective forest right reform has made the subject of scale management have the property right of forest right through the return of right and the certification of right.In view of the lack of funds for forestry development,it is necessary to realize capitalization with the help of forest right mortgage.Because of the economic characteristics of forestry resources,the instability of forest land management right and the lag of forest right supporting facilities,it is difficult to realize the free transformation of forest right property right with capital under the market mechanism.As a result,the financing function of forestry is difficult to realize.The problem of forestry "financing difficulty" is still serious,which is mainly reflected in: first,because of the irregular circulation of forest rights,it has the attribute of creditor’s rights,and does not meet the property right attribute of financial institutions’ requirements for collateral.It makes it difficult to deal with the higher transaction cost of forest land because of the mortgage of subsequent management right.Second,there are potential risks in forestry resources,which make forest rights face natural and man-made risks,and then reduce the actual value of collateral;Third,the supporting facilities of forest right capitalization are not perfect,such as imperfect law,limited circulation,limited forestry insurance varieties and so on,which makes the realization cost of forest right high and can not transfer the loan risk of financial institutions.In this paper,based on the analysis of the present situation of forest right mortgage loan in Guangdong Province,the forest right mortgage,the main body of scale management and the financial institution are brought into the decision-making model by using the two-department game model.This paper analyzes how the mortgage of forest right affects the decision-making behavior of large-scale management subjects and financial institutions by changing the expected income of both borrowers and borrowers.Secondly,it analyzes the problems existing in the development of forest right mortgage loans.Although farmers have forest warrants,but with forest rights as collateral,financial institutions still have low enthusiasm for loans,and the mortgage rate of forest rights is only less than 30%.Themortgage value of forest rights is not fully reflected.Finally,the article is in On the basis of the problems existing in the development of forest right mortgage loan,this paper puts forward some policy suggestions for carrying out forest right mortgage loan.The main conclusions of this paper are as follows: first,the use of two-sector game model,forest rights as collateral,can change the expected income of both borrowers and borrowers,restrict the behavior of farmers,and meet the expected returns of financial institutions.Second,the economic characteristics of forestry resources determine that forest rights as collateral are different from other assets,the effectiveness of forest rights mortgage is limited,forest rights can not be called the full sense of collateral.The predicament of rural property right financing is still serious.Third,in view of the problems existing in the development of forest right mortgage loan in Guangdong Province,from improving the institutional environment of forest right mortgage loan,perfecting the supporting system of forest right mortgage loan.From the three angles of construction and deepening the innovation of forest right mortgage products,this paper puts forward some policy suggestions for Guangdong Province to carry out forest right mortgage loan.