Research On Effects Of Signal Transmission Of Usages In Peasants Loan

Issues of agriculture are closely related to the economic development and modernization construction of our country, under the circumstances of the New Normal of economic development and the new challenge of rural development, the “Central First Document” focused on the issues of agriculture constantly, which requires to boost the speed of reform and innovation as well as agriculture modernization construction. However, peasants lack effective collateral, and have serious Asymmetric information with commercial institutions, which make them difficult to apply for loan from regular commercial institution. In addition to this, finance suppression problem makes it difficult for new policies to imply. Therefore, a signal ought to be informed to commercial institution from economic features of peasants to solve the Asymmetric information so as to relieve the difficulty of loan application for peasants.The usages of loan for peasants can reflect the quality types of them. According to the differences of usages of their loan, peasants are divided into high quality peasants and low quality peasants as a signal among commercial institutions. Through game analysis, it is found that there are mixed equilibrium and separating equilibrium existing between peasants and commercial institutions. Under the effect of signal transmission of loan usage, peasants and institutions can reach separating equilibrium.Through the survey of 1500 peasants in Henan Province, it is observed that peasants can hardly get loan from regular commercial institutions and the usages of their loan are mostly focused on living usages which may bring high risks. The relevance analysis of whether peasants loan usage can obtain regular loan shows that, productive usages have positive correlation with regular loan obtain; the relevance analysis between peasants loan usage and the quantity of loan obtain shows that the productive usages of development of industry, commerce and agriculture have positive correlation with regular loan obtain; meanwhile, binary Logistic regression analysis shows that productive usages of development of industry, commerce and agriculture have tremendous effects on peasants in obtaining regular loan.Therefore, in order to improve the current difficulty of peasants obtaining loan, there are three approaches in accordance with this paper: firstly, innovate signal transmission mechanism of loan usages to quantify the usages of peasants loan appropriately, so as to set a reference standard for commercial institutions, which on one hand help peasants obtain loan successfully and on the other hand help commercial institutions identify risks. Secondly, guidance of peasants to productive usages of low risks is more likely to obtain loan. Thirdly, construction of a complete rural social security system, which provides peasants with security of better medical care and children education, will decrease loan of living usages to some degree. Fourthly, constantly improve signal display mechanism of peasants loan to explore more peasants economic features to relieve the difficulty of peasants loan.The innovation of this paper is to utilize signal display theory as a tool to solve peasants loan problem with loan usages as a starting point. Meanwhile, statics of Henan peasants are used to analyze loan usage, which is original. The research of this paper will help peasants obtain commercial institution loan successfully, there is also reference value for commercial institutions to identify risks of peasants loan.