Study On Farmers’ Credit Rationing And Mitigation Mechanism Under The Reform Of Rural Land Mortgage

In the nineteen Party’s Congress,we put forward the strategy of implementing rural revitalization.It needs many aspects and multi-level efforts.However,promoting the innovation of rural system and mechanism,especially the supply of rural land system is an important part of realizing the strategy of Rural Revitalization.Since the reform and opening up 40 years ago,the rural land property right system in China has gone through the institutional change from the household contract responsibility system to the three rights division system.The promotion of the "three rights division" make the farmers gradually change into the situation of the coexistence of a variety of new types of agricultural management subject.The emergence of new agricultural business entities characterized by large-scale operation has changed the financial demand structure in rural China.The traditional financial support system is difficult to meet the long-term and large-scale funds demands of the Farmer in the present stage.In the rural financial market,Farmers are subject to credit rationing for a long time.To this end,the government liberalized the rights and security of the rural land management rights.However,the practice in the pilot area found that there still exists a relatively high degree of credit rationing when applying for the rural land right mortgage loan.It is of great theoretical and practical significance to further alleviate the shortage of funds and financing difficulties caused by the large-scale agricultural operation,and to ensure the fundamental interests of the small farmers and the new agricultural management.On the basis of combing the literature and theory,using the new institutional economics,mechanism design and the related theory of credit rationing,this paper analyzes the institutional economics principle of rural land management right mortgage in China,and the mortgage market of rural land management right from two angles of demand and distribution.The credit rationing still exists among Chinese farmers.Then,select the representative sample data of the pilot area,and use a number of discrete selection models to find the reasons for the demand and supply distribution of the heterogeneous agricultural operators.Finally,on the basis of the previous theory and empirical analysis,this paper puts forward the relief mechanism design of farmers’ credit rationing under the mortgage of rural land management right,and forms the corresponding conclusions and suggestions.Specifically,the main contents and conclusions of this study include three aspects.On the one hand,based on the research paradigm of new institutional economics and credit rationing theory,a theoretical framework for the analysis of farmers’ credit rationing under the reform of rural land management rights in China is constructed.In the system economics principle of the rural land management right mortgage loan,the liberalized power of the rural land management right transfer drives the transformation of the main structure of the agricultural operation in our country,and then changes the demand characteristics of the rural finance in our country,and the reform of the rural land management right has become the inevitable trend.Under the mortgage loan of rural land management right,there is still a large part of the agricultural management subject because the non interest cost of applying the rural land management right is too high and is allocated by the transaction cost;there is a part of the agricultural management subject because the risk of applying for the rural land management right is too high.And they are rationed by risk,and a very large proportion of the agricultural operators are fully rationed because of the low market value of the rural land management rights and the poor ability to cash in.That is,under the reform of rural land management right mortgage,most of the credit rationing of agricultural business entities has not been alleviated.In the second aspect,on the basis of theoretical analysis,this paper analyzes the reasons for the supply and demand distribution of the farmers under the rural land management right by using the relevant empirical analysis method.Based on the empirical analysis,it is found that there are differences in the reasons for the supply and demand distribution of the heterogeneous agricultural management subject in the rural land management right mortgage market.On the one hand,the main reasons for the distance from home to the rural comprehensive property exchange,the proportion of family pension insurance,the recent annual income,and whether there are family members or now as village cadres are the main reasons for the formation of demand distribution for small farmers;the more difficult to obtain the identification books,the standardization of the transaction process,and the rural comprehensive property exchange,as well as the rural comprehensive property exchange.The main reason for the demand type distribution is the distance of the bank,the proportion of the household agricultural labor force,the main income source of the agricultural family,and the recent annual income.On the other hand,the key reason that affects the total quantity distribution of small farmers is whether to join the credit system and the fixed assets,and the key factors affecting the quantity distribution of the new agricultural operation subject are whether to sign the land transfer contract,whether the registration of the rural comprehensive property exchange is registered,and the operation year of the main body of agricultural management.Whether or not we have entered the government credit rating system,credit demand level,the area of rural land management right and the duration of rural land management right.In the third aspect,on the basis of empirical and theoretical analysis,the theory is further applied to the design of the mitigation mechanism of farmers’ credit rationing under the mortgage loan of rural land management right in China.The mortgage mechanism of rural land management rights should be designed from two aspects:alleviating farmers’ demand distribution and supply distribution:in view of the demand based ration of changing farmers,it is necessary to deepen the coverage of rural comprehensive property exchange and banks,standardize the rural land transfer contract of the new agricultural management body,and simplify the rural land transfer contract.The identification process of rural land property rights mortgage certificates is to alleviate the transaction cost allocation of rural land operation right mortgage loan.On the other hand,we need to deepen the rural family insurance to reduce the social security attributes and the economic security attributes of the rural business owners.On the one hand,on the one hand,on the one hand,in the long run,the cultivation of the high efficient rural land management right mortgage market,the perfect rural agricultural credit system and the introduction of the market-oriented guarantee and insurance intermediary are the fundamental solutions to the development of the rural land management rights mortgage;on the other hand,the short term In view of the low efficiency of the rural land management market and the incomplete information system in the rural areas,the value expectation of the subject matter can be improved by guiding the moderate scale and the moderate time limit.Insurance intermediaries share risks faced by banks and reduce risks through guiding low risk projects.