An Analysis Of Peasant Household Credit And Loan Restraints Based On Social Capital Perspective

From 2003 to 2016 for 13 consecutive years, the central document closely around the "deepen rural financial reform, accelerate the innovation of rural financial system theme. At present, China's rural financial market conditions, financial supply and demand imbalance, farmers generally because of credit rationing and credit constrained, the financial needs of farmers is not met. There are two main reasons for this phenomenon: first, the information asymmetry between the formal financial institutions and farmers; second, farmers are lack of effective collateral. And social capital not only has the signal transmission function, also can be used as collateral for invisible. Therefore, from the perspective of social capital ease credit constraints farmers both has the important theory significance and practical significance for solving practical problems.In this paper, we study the data based on the Beijing University in 2009, the national development and Research on rural financial investigation, to 81 villages in Yunnan, Hunan and Heilongjiang provinces in the nine county(or county-level city) of rural household borrowing behavior as the research object, based on the perspective of social capital, comprehensive use of statistics, financial theory, behavioral finance multidisciplinary knowledge system of social capital mortgage replacement technology is discussed in this paper. From the non economic factors of social capital, which is a micro perspective to proceed, in the control will conditions affecting rural households borrowing amount of "household" and other objective factors, to farmers from the formal financial channels and non formal financial channels of the total loan size as a measure by the strength of the degree of credit constraints dependent variables, the selection of treatment the Tobit model of censored data analysis of social capital in different aspects of the role in easing the farmers' credit constraint.Research shows that farmers on social network business intentions, so it has very strong stability, so the social relations with quantitative mortgage or pledge of greater value, reduce the risk of default, so as to promote the loan transaction scale, easing the farmers' credit constraint; empowerment and political behavior by reducing the farmers to reduce the risk of breach of contract the default lender, increase the loan transaction size, ease credit constraints by farmers; information and communication can overcome the farmers themselves enough to grasp the impact of management information, caused by the lack of market sensitivity caused by the poor, thereby reducing the passive control of the breach, the farmers' default risk. To promote the trade between the main loan transaction size increase, alleviate the farmer credit constraint. Finally, combined with the environment of China's rural economic development, from the development of regional economy in macro policy, meso and micro farmers three aspects, discusses the optimization on the borrowing behavior of rural households, reduce on the farmers' credit rationing, alleviate the farmer credit constraint policy path.