A Survey On The Lending Behavior Of Farmers In Henan Province

The rural financial system is a product that takes into account the production and operation needs of farmers and the supply of financial services.The rural financial service system in Henan Province presents narrow service coverage,fuzzy levels,and limited audience groups.However,the funds required for farmers’ production and operation cannot be separated from the support of rural finance.Therefore,in order to broaden the channels for farmers to borrow funds,improve agricultural productivity,and ensure their enthusiasm for production,it is crucial to study how to assist farmers in expanding production and increasing income through the rural financial service system,thereby improving their sense of gain,happiness,and satisfaction.This study focuses on the lending behavior of farmers in Henan Province,using literature review,questionnaire survey,and empirical analysis methods to study the lending behavior of farmers in Henan Province.Firstly,a comprehensive understanding of the current situation of farmers’ lending behavior and the development of rural finance in Henan;Secondly,based on the farmer’s economic behavior theory,credit theory,transaction cost theory and behavioral economics theory,a descriptive analysis of farmer households’ borrowing behavior in Henan Province is carried out from the perspective of family characteristics,farmer households’ cultural level characteristics,risk preference characteristics and location characteristics;Finally,based on literature research and survey data,a logistic model is constructed and Eviews is used for empirical analysis to study the impact of various influencing factors on farmers’ lending behavior.The main conclusions of this study are as follows: 1.Farmers in Henan Province have a strong willingness to borrow through formal channels,but there are also some farmers who do not borrow through formal channels.2.Education level,labor force quantity,and income level have a significant positive impact on farmers’ borrowing behavior and loan willingness,while cultivated land area has a weak positive correlation with Henan farmers’ borrowing behavior;The relationship between age factors and farmers’ lending behavior is not significant.3.Farmers’ choice of formal lending channels is negatively correlated with their education level,labor force quantity,income level,and risk preference,but positively correlated with their age,arable land area,and mortgage loan situation,but not with their willingness to borrow.Based on the above research conclusions,the policy recommendations of this article are as follows: 1.Improve and innovate rural financial markets and products;2.Establish and improve the rural financial credit system;3.Introduce preferential policies to enhance farmers’ borrowing enthusiasm;4.Enhance farmers’ financial awareness and credit acquisition ability;5.Linkage between scientific research and agriculture to enhance the cultural quality of farmers.