Research On The Impact Of The "Three Rights Separation" Of Contracted Land On The Development Of Agricultural Land Finance In Shandong Province

The weak characteristics of agriculture,such as long investment cycles,high operating risks,low returns,and instability,restrict the effective development of agriculture.Land is the most basic input element for agricultural production,modern agricultural large-scale operation has an increasing demand for land circulation.Therefore,it is necessary to combine land transfer with financing and explore ways to solve the effective input of agricultural production factors.The essence of the integrated development of agricultural land and finance is the organic combination of land circulation and mortgage loans,which promote and promote each other.It is an important way to coordinate input of agricultural production factors.This paper studies the impact of the "separation of rights" reform of contracted land in the development of agricultural land finance from two aspects of theory and practice,and puts forward reasonable suggestions.Firstly,based on the theory of property rights system,the theory of land cooperation,the theory of inclusive finance and the theory of large-scale management of farmland,it explains the impact mechanism of the "separation of three rights" of contracted land on the financial development of agricultural land,and analyzes and finds that the "separation of three rights" of contracted land The reform of agricultural land development promotes the development of agricultural land finance by enhancing the strength of agricultural land financial services,enhancing the supply of agricultural loans,and enhancing the efficiency of land transfer.After that,the entropy method,the coefficient of variation method and the factor analysis method were used to measure the agricultural land financial development level index of 17 prefectures and cities in Shandong Province from 2006 to 2020.The analysis found that the land financial development in Shandong Province was at a low level,and there was a gradual increase.The situation is different from one city to another.Secondly,from a macro perspective,the conditional mixed process estimation method(CMP)is used to carry out endogeneity test and regression analysis.The explained variable is the agricultural land financial development level index,and the explanatory variable is the confirmation and certification of agricultural land rights.Using CHFS questionnaire data and PSM propensity score matching to test the impact of farmland ownership on the financial development level index of family farmland,according to the research,the "three rights separation" of contracted land can significantly promote the financial development of farmland.The reform of "separation of rights" ensures the clarity of farmland property rights,promotes farmland circulation and large-scale management,improves investment efficiency and returns,generates capital demand for farmers,and encourages agricultural business entities to invest in farmland for a long time.At the same time,the "separation of powers" gives the role of agricultural land mortgage guarantee,reduces the information asymmetry of agricultural land management rights mortgage loans,and improves the credit guarantee level of agricultural business entities,thereby enhancing the willingness of financial institutions to supply agricultural loans.Agricultural land finance promotes the innovative development of rural finance with the property rights of agricultural land as the guarantee,solves the difficult problem of agricultural financing,promotes the circulation and scale operation of agricultural land with innovative financing methods,reduces information and credit risks,improves the efficiency of factor allocation,and promotes the efficient development of modern agriculture.Finally,the combination of theoretical and empirical test results provides effective suggestions for promoting agricultural modernization in Shandong Province,including continuing to deepen the reform of "separation of three rights",clarifying the boundary and structure of agricultural land property rights;Realize the mechanism,improve the land transfer service system;strengthen the construction of agricultural land financial market and risk supervision and management;strengthen the government’s policy and financial support for agricultural land financial participants and other effective suggestions.