Research On The Impact Of Rural Land Management Right Mortgage Loan On Rural Households' Income

Since the beginning of the new century,the party and the state have attached great importance to the issue of agriculture,rural areas and farmers and put solving the issue as the top priority of the party's work.To solve the issue of agriculture,rural areas and farmers,we need to consider fund problem first.Agriculture is a weak and risky industry,so the rural households who engaged in agricultural production and operation have the limited ability to accumulate funds,they are underfunded and difficult to finance.To solve this problem,rural finance has been reformed and innovated as the core of modern rural economy,one of the important measures is to launch rural land management right mortgage loan,a new type of financial product.The emergence of rural land management right mortgage loan alleviates the problem of rural households' financing difficulty,and increases the supply of rural households' funds,which is beneficial to rural households' development of production and increase of income.Therefore,it is of great significance to study the effect of rural land management right mortgage loan on rural households' income.Based on the survey data of rural households in Changtu County,Liaoning Province,this paper firstly analyzes the basic characteristics of the sample rural households,the borrowing situation of the rural households,the situation of rural households' farmland mortgage loan,the participating households' subjective evaluation of impact of farmland mortgage loan on income increase,the income situation and related characteristics of rural households who are involved in and not involved in farmland mortgage loan by descriptive statistics.The results show that most rural households have borrowing experience.Among the borrowing sources of rural households who have borrowing experience,formal lending and private lending are equally important.The amount of borrowing is mainly small and the maturity of borrowing is mainly short-term.The main purpose of borrowing is agricultural production and operation.The proportion of rural households participating in farmland mortgage loan is relatively high,and the source of loan is single.The rural households participating in farmland mortgage loan are mainly small and medium-scale ones,and the amount of loan is relatively small.The loan period of rural households is basically matched with the production cycle of planting industry,and the loan use is mainly agricultural production and operation.From a subjective point of view,most rural households believe that farmland mortgage loan has a positive and great impact on rural households' income.The mean of the total income and agricultural income of rural households participating in the farmland mortgage loan are greater than that of rural households who have not participated in the farmland mortgage loan.In addition to the characteristics of education years,there are significant differences in the other characteristics between participating and non-participating households.Then the influence of farmland mortgage loan on households' income is analyzed by using OLS regression,treatment effect model and propensity score matching method.The results show that OLS regression method overestimate the effect of farmland mortgage loan on households' income growth.After using treatment effect model and propensity score matching method to correct the selective bias and endogenous problems,the farmland mortgage loan still has significant positive influence on the households' total income and agricultural income.The effect on the increase in rural households' total income generated from the farmland mortgage loan is greater than that on the agricultural income,but the difference is not significant.Then propensity score matching method is used to discuss the effect of farmland mortgage loan on the income of households with different characteristics.The results show that whether in terms of total income,or agricultural income,large scale households can get higher income than ordinary households after their mortgage loans.The farmland mortgage loan has a greater effect on the growth of total income and agricultural income of households with large loan amount and long loan term.Finally,based on the above research conclusion,this paper put forward the following suggestions:(1)At the level of rural households,the households' financial awareness and overall quality should be improved,the households' understanding of farmland mortgage loan related policies should be strengthen,and the households should appropriately conduct land transfer.(2)At the level of financial institutions,the promotion of farmland mortgage loan related policies should be increased,financial institutions should fully meet the needs of households with different land scale,the design of farmland mortgage loan products should be optimized.(3)At the level of government,diversified supply mechanisms should be constructed,a healthy,orderly and open circulation market for rural land management right should be established,the risk sharing mechanism should be improved,and the rural social security system should be perfected.