Research On Supply And Demand Barriers And Improvement Of Farmers' Credlit From The Perspective Of Inclusive Finance

Rural finance has always been a weak link in China's financial sector.Farmers,as the basic unit of the micro-foundation and credit demand of rural areas in China,their financing status has become an important variable affecting rural economic development,and it is also a logical starting point for deepening China's rural financial system reform.In order to improve the financial difficulties in rural areas,the central government and governments at all levels have carried out a series of reforms,which have greatly improved the service efficiency of rural financial markets and have achieved certain results.However,enhanced service effectiveness does not necessarily serve rural areas.It is the peasant households living in vulnerable groups,which has caused the contradiction between supply and demand of farmers' credits to remain prominent,and has become a core issue that restricts the sustainable development of rural economy.At present,with the acceleration of rural economic development and the integration of urban and rural areas,the financial needs of rural households tend to be widespread,and they are characterized by diversity and diversity.However,the corresponding credit supply system for rural households is not perfect,and the total credit supply of rural households,the problem of insufficient quantity,mismatched supply and demand,and inefficient supply are awaiting resolution.In addition,inclusive finance is an extension of the concept of inclusive development in the financial sector.China's vast rural areas are its main battlefield,and the vast majority of rural households are its key service targets.In view of this,based on the perspective of inclusive finance,the status of supply and demand of farmer households and their obstacles are discussed in depth.Applying the theory of inclusive finance,study and put forward the objectives,principles,contents and relevant policy recommendations for improving the barriers of supply and demand of rural household credit.This will deepen the reform of rural finance and increase the income of farmers in Shandong Province.The availability and satisfaction of financial services have important theoretical values and practical guidance.Based on the theories of rural finance,inclusive finance,supply and demand,this research comprehensively uses literature collection,field surveys,and theoretical and empirical analysis methods to illustrate the current situation of supply and demand credit for ruralhouseholds in Shandong Province and the differences in credit availability among farmers.The characteristics of farmers' credit supply and demand imbalances have empirically analyzed the factors affecting the potential credit demand of rural households,the efficiency of rural households' credit supply,and the development level of rural inclusive finance,and analyzed the causes of the supply and demand barriers for rural households.According to the operating rules of inclusive finance,the research has proposed the improvement target,principle,content and policy suggestion of the farmer credit supply and demand obstacles.The main research contents and conclusions are as follows:Research contents 1: Analysis on the current situation of farmers' credit demand and farmers' potential credit demand.According to 762 questionnaire surveys,it is found that sample farmers' demand for capital borrowing is relatively common,and loan demand has a large amount of credit,a longer term,and a lower expected interest rate.There are differences in the amount of credit between pure farmer and concurrent farmer;farmers' credit channels are diversified and their preferences are obvious.The complexity of loan procedures is the primary factor in the formation of credit preferences for farmers,formal financial institutions have obvious features such as insufficient credit supply;farmers' borrowing and production are intertwined with life-used purposes.Some farmers have “fear or credit” status,and there are differences in the reasons why different types of farmers do not have credit behavior.Among them,the four factors of the household head culture,types,private lending,and new rural financial institutions have a significant positive effect on the potential credit demand of rural households,and their age,income source,and household annual income have significant negative effects.Research content 2: Analysis of the credit supply status,efficiency and influencing factors of rural households.According to the analysis of relevant statistical data in Shandong Province,it is found that small and new-type financial institutions are the two main types of financial supply institutions in rural areas in Shandong Province,but their “support for agriculture” supply is limited and the level of inclusive services is low.According to 402 questionnaires survey data,using the super-efficient DEA model for empirical testing,the results show that: In Shandong Province,only the credit supply efficiency of rural households in the eastern region is high,and the central and western regions all appear to be ineffective.At the same time,there are differences in various regions.Further use of Logistic model to empirically examine the factors influencing the credit supply efficiency of rural households and find that: the per capita income level of rural households,a good rural financial ecological environment,the advancement of mortgage loans for rural property rights,and the equitable nature of loans to the allocation of credit funds to rural households significantly,the individual characteristics of farmer households have no significant effect on the credit supply efficiency of rural households.Research Content 3: Differences in credit availability among different rural households.Through the statistical analysis of 762 questionnaires,it is found that the sample farmers of different types,income levels,production scales,and sources of income have differences in their credit availability: compared with pure farmers,the availability of credit for concurrent farmers is even greater.The higher the income level of sample farmers,the higher the possibility of obtaining loans,and the farmers with medium or lower income levels have obvious obstacles in credit availability;the credit availability of relatively large-scale farmers is relatively high,but different production scales.The differences in credit availability of rural households are relatively small;the percentage of households whose farming,migrant workers,self-employed commerce and industry,and aquaculture are the main sources of income are 46.20%,43.10%,52.90%,and 60.00% respectively.Research Content 4: Analysis of the development level of inclusive financial in rural areas and its influencing factors.Using Shandong Province's macro-statistical data from 2006 to2015,the development status of inclusive financial development in rural areas in Shandong Province was measured using the improved inclusive financial development evaluation index calculation method.The results show that the level of inclusive financial development in rural areas in Shandong Province has been increasing year by year.Since 2008,the introduction of inclusive financial policies by local governments and the introduction of a moderately loose monetary policy by the central bank in 2009 have made the province's rural inclusive financial development rate grow faster since 2008.Using the regression analysis method to analyze the influencing factors of the development of inclusive finance in rural areas,it was found that: the four factors of rural areas,including per capita income,economic development,internet development level,government financial support,and urbanization rate,have asignificant and positive impact on the development of rural inclusive finance;the level of convenience and the level of agricultural science and technology are also positive,but not significant;and the importance of the agricultural industry has a significant negative impact on the development of rural inclusive finance.Research Content 5: Analysis of the root causes of supply and demand obstacles for farmers' credit.Farmers' creditworthiness is not perfect,there are demand-based credit constraints on farmer households,application limitations of traditional credit technology,commercial rules of financial institutions lead to “financial exclusion”,rural formal financial institutions “abandon loans” or “difficult loans”,and farmers There are credit supply constraints or rationing behaviors,and the lack of inclusive financial awareness in rural financial institutions as a whole is the micro-level cause of farmers' credit supply and demand obstacles;the exogenous nature of rural financial system reforms,the difficulties faced by rural financial institutions in operation,and the lag in inclusive financial ecological construction is the macro-level reason that causes the credit supply and demand barriers for farmers.In addition,an economic explanation of the supply and demand barriers for rural households believes that financial institutions' supply of credit to rural households is suppressed and credit supply is insufficient.Farmers also suffer self-independence and credit demand restraint.The above reasons have made it difficult to achieve Pareto improvement in the credit market of rural households,eventually causing farmers' credit difficulties and credit barriers.Research Content 6: Improvement strategies for barriers to supply and demand of rural households in the perspective of inclusive finance.On the one hand,we have built a general strategy for improving the supply and demand barriers of rural household credit from the perspective of inclusive finance: With the overall goal of “one core,two relationships,three contents,three main bodies,and one system”,an inclusive rural financial supply system for division of labor,cooperation,and moderate competition will be established,to increase the coverage,availability and satisfaction of rural financial services.Besides,through the increase in total supply,optimization of supply and demand structure,and improvement in supply efficiency,in order to realize the efficient flow and rational allocation of financial resources,and ultimately achieved balanced development of credit supply and demand for farmers.Onthe other hand,according to the overall strategy for improvement,the relevant policy recommendations for improvement were proposed from the four levels of farmer households,financial institutions,rural financial ecology and government.