The Formal Credit Constraints Of Large Grain Production Households And Its' Welfare Losses

With the development of land circulation in recent years,a series of new agricultural business entities of agricultural production is born who is an important carrier to intensive,scale and modernization.In 2013 the central document clearly to encourage and support the land to transfer to professional large,family farms,farmers' cooperatives,and encourage the development of various forms of moderate agricultural business entities.The 2016 central document once again focus on new agricultural business entities,which put forward the "cultivation" to strengthen the new agricultural business entities.The new agricultural business entities,since then,has been the focus of public attention.The development of the new agriculture business cannot do without the support of funds,so the financing problem has been the main problems restricting the development of peasant households,which is particularly important to break the new agricultural business entities financing bottleneck.As an important source of food production,large grain production household in the new agricultural business entities are more popular,the problem of financing of them is not only related to the development of agricultural modernization,but also related to national food security.After a simple study of financial constraint theory,financial inhibition theory and information asymmetry theory,this paper makes a research on the credit restriction and welfare loss of different grain households based on the data of 602 species of grain in Liaoning province.Firstly,it analyzes its formal credit demand and formal credit acquisition.Then set a constructs formal credit constraint recognition framework to select the credit constraint households.What's more,the paper analyzes the influence of credit constraint on the welfare of different grain households,and finally puts forward the policy suggestion to alleviate the credit constraint of households from the sight of individual,government and financial institutions.The results show that there is a serious imbalance between the credit demand and credit supply of large grain production households,and they face serious credit constraints,the degree of which is as high as 71.79%.Credit constraints have negative effects on productive assets,production income and production income of large grain producers.