| With the deepening of China's agricultural modernization process,agriculture scale has developed rapidly,and the development of rural economy was diversified.The farmers who were the major investors on agricultural production need more financial support.But the contradiction between “funding difficulties,mortgage difficulties,guarantee difficulties” and “difficult loans” by rural financial institutions has not changed.It was one of the most important reason that is the lack of effective collateral.The reform of China's agricultural land syste m has been deepened continuously in order to solve this problem.The original rules about the farmland property rights have also been broken and entered into the “market”,the farmland management right was taken seriously and redesigned as property rights.Subsequently,agricultural land mortgage financing began to pilot gradually in the country and continued to promote.However,how could we achieve its implementation as an emerging financial product and benefiting policy and which factors could constrain the implementation? How does it affect the behavior of suppliers and demanders? The most critical point is that we need to evaluate the implementation effect and analyze the impact of the financing of farmland mortgage financing on the perspective of suppl iers and demanders.It's the perfect suggestions that can be more effective and improving the role of agriculture,rural areas and farmers.This is the core of this article.Therefore,this article is based on the related theories such as institutional cha nge,welfare economics,behavioral economics and stakeholders,which include the implementation of the financing of rural land contractual rights as the entry point.The author tries to establish an analysis framework that effect evaluation about the farmland mortgage financing for implementation and the behavior of supply and demand,starting from the three major stakeholders.I n this article,the author use two methods,the field and network investigation,to research the rural land contractual rights mortgage financing pilot in Heilongjiang Province as the agricultural provinces and the main grain producing areas in China.On the basis of the micro data and macro data,the author wield the Analytic Hierarchy Process(AHP)to analyze the weights of the thr ee indicators including the farmer's dimension,the financial institution's dimension and the government's dimension.Then evaluates the implementation effect of the farmland management right mortgage financing in Heilongjiang Province.On the basis of the analysis in “willing-response-default(violation)behavior”,it can impact of farmland management rights mortgage financing on the behavior of supply and demand.This paper has obtained the following main conclusions through empirical research:(1)The data about the farmland management rights mortgage financing in Heilongjiang Province can show the evaluation result: To analyze the comprehensive correlation degree Rp =(0.3518,0.4381,0.4492,0.4285,0.5057)from 2013-2017,the financing of farmland management rights in Heilongjiang Province showed a volatility upward trend in general.Although the comprehensive effect score was not high,but still much room for improvement.Specifically,the farmers responsiveness was increasing but actually still lower.The perception and satisfaction from famers for policies are unsatisfactory.In terms of financial institutions,supply willingness and organizational implementation capabilities have improved,but financial Institutional management efficiency did not get enough profit;To government,the development about social security and agricultural are on the rise.At the same time,two indicators in the agricultural land mortgage financing development indicators for the financing scale and structure are also on the rise,but not completely covered.(2)In the analysis of the impact of farmland management rights mortgage financing on the behavior of demand subjects,the first empirical evidence of the farmer's farmland management rights mortgage financing will be obtained through the Logit regression model: education level,production scale,main household income source,Whether the loan is experienced or not,the business setting is reasonable,the institutional risk control situation,the farmland mortgage financing awareness and satisfaction have a significant impact on it.Moreover,the satisfaction and recognition of farmland mortgage financing is the most influential factor;secondly,the empirical evidence of farmer household financing response behavior(product ion decision-making behavior)through the model: farmer's satisfaction evaluation of farmland management rights mortgage financing,Farmers' satisfaction assessment of the level of farmland management rights mortgage financing guarantee measures,farmers' satisfaction with crop market prices,farmers' expansion of production income expectations,and the number of farmers' agricultural labor force have a significant impact on farmers' response behavior(the expansion of production scale);Finally,through Logit regression,the empirical evidence of the default behavior caused by the mortgage financing of rural land contractual rights :the scale of the land,participating in agricultural insurance,income savings level of non-agricultural,agricultural income,using of the loan,the level of the land transfer market and other indicators on farmer default behavior have a significant impact.(3)We could get a thesis in the analysis of the impact of farmland management rights mortgage financing on the behavior by supply subject.At first,the test was based on the “motivation-reality performance-positive” analysis framework and the empirical evidence of the impact of financial institutions on the willingness to supply financial institutions is that: there will be significant impact on what follows,such as degree of the valuation for mortgage land,the disposing of mortgage rights,the business prospects,the soundness of laws and regulations,the soundness of the guarantee system.Secondly,we analyze the impact o f the financing of rural land contractual rights on the response behavior of financial institutions.Then we propose the Differential interest rates and amortization loan methods in financial institutions.In addition,we found that the respects of financial institutions,business scope,lending scale have increased significantly with the promotion of farmland management rights mortgage financing through the statistical analysis.Furthermore,based on rural land contractual rights Mortgage financing has a broad space for rural development and the reality,and there is still much room for improvement in the mortgage financing business of rural land contractual rights.Finally,based on the "mechanism-influence factor-positive" analysis framework,the AHP analysis method is used to empirically analyze the irregularities that may be caused by the mortgage financing of rural land contractual rights: The temptation of economic interests,material incentives,and information asymmetry have the most significant impact on violations.In the second place,the credit system is imperfect and internal supervision is not effective;violation costs,credit awareness,laws and regulations,and external supervision are generally significant.(4)According to the above empirical analysis conclusions,the author propounds a target how to improve the mortgage financing strategy of rural land contractual rights,as well as the perfect path and specific countermeasures are obtained.In terms of improving the path,it is designed fr om four aspects: operating mode,subject cooperation,risk compensation,supervision and constraint mechanism.The specific path is embodied in the construction of the main cooperation mode,improving risk compensation mechanisms,the optimized operation mode,the establishment of the supervision system.Meanwhile the author provides concrete proposal to promote the Agricultural land management right mortgage financing effect: Firstly,we need to improve the relevant laws or regulations at the national level and introduce the implementation rules at the regional level as soon as possible.The good system could keep the Agricultural land management right mortgage financing to go on wheels.Secondly,the government should support for farmer's farmland mortgage financing,including the policy,regulation,finance and message.etc.Thirdly,we should motivate the effective demand on the Agricultural land management right mortgage financing to keep the policy Stability and sustainability.Finally,we should improve the supply ability of financial institution,Regulate the business practices and strengthen the design about the Agricultural land management right mortgage financing from the business and the service. |
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