| There is no doubt that the economy in our country has achieved a rapid development since the reform and opening up to the outside world forty years ago.While the development of rural areas has lagged far behind the cities,especially Yunnan Province,which is an economically underdeveloped plateau mountainous province.The problem of "agriculture are getting more and more attention,countryside and farmers",in which rural financial market plays an important role in solving the problem of "agriculture,countryside and farmers".Thus,it should promote the reform of rural financial market in China,so as to play a better role in rural finance.At present,the problems,such as the imbalance of supply and demand,the inefficiency and the weakness of the system,are widespread in the rural financial market of our country.As a result,it is necessary to give full play to the role of agricultural policy-based financial to meet the needs of the "agriculture,countryside and farmers" for the diversification of rural financial services,which thus can make up for the deficiency of the rural financial market system.As for the broad sense of agricultural policy finance,it includes the two aspects,such as credit and insurance.While the focus of this paper is credit services,so what it emphasizes is the impact of agricultural policy-based financial credit on the income of farmers.In terms of the Agricultural Development Bank of China,it is the only agricultural policy-oriented financial institution in China,in which the credit business provided by it is the most important credit business for supporting agriculture in our country.Therefore,the focus of the study in this paper is whether it can give full play to its function of supporting agriculture and promote the increase of farmers’ income.In this paper,it analyzes the effect mechanism of agricultural policy-based financial credit on the income of farmers from two aspects on the basis of combing and analyzing the relevant research results of scholars at home and abroad as well as the related concepts and theories under the above underground,such as direct mechanism and indirect mechanism,in which the direct mechanism includes grain and oil acquisition mechanism and productivity mechanism,which the indirectmechanism includes employment mechanism and spillover mechanism.As for the grain and oil acquisition mechanism,it refers to the purchase of credit business through grain and oil to ensure the price of agricultural products and affect the income of farmers.As for the productivity mechanism,it refers to improving the level of technology and agricultural productivity through the releasing of the credits of infrastructure construction,the comprehensive development of agriculture,agricultural science and technology,which thus can affect the income of farmers.As for the employment mechanism.Firstly it refers to that the technical level of agricultural production can be raised by issuing infrastructure credit,and the partially liberated labor productivity can be engaged in the work of non-agricultural industries,which thus can affect the income of farmers.Secondly,it can support the development of agricultural industrialization by issuing the credit of agricultural leading enterprises instead of the credit of grain and oil,which thus will help to provide more non-agricultural employment opportunities and improve the income of farmers.Finally,the lower interest rate of agricultural policy-based financial credits will also improve the production costs of small and medium-sized enterprises such as townships and towns,increase profits,and ensure the development of township enterprises as the carriers of rural surplus labor,thereby improving farmers’ non-agricultural employment opportunities.As for the spillover mechanism,it refers to that the support of agricultural policy-based financial credit to agriculture can promote the development of rural finance and promote the economic development of rural areas,in which the development of economy will also promote the increase of the income of farmers in general.After the theoretical study on how agricultural policy-based financial credit affects the income of farmers,it studied the present situation and existing problems of agricultural policy-based financial credit and the income of farmers in Yunnan Province respectively in this paper.As a result,it is found that the agricultural policy-based financial credit has some problems,such as having single source of funds,narrow benefit area,as well as imperfect relevant laws and regulations.In addition,there exists a large gap between the income of urban and rural people in Yunnan Province,in which the composition of the income of farmers isrelatively simple,and the source of income of them is relatively single.Then,use the relevant data of Yunnan Province from 1995 to 2016 to empirically analyze how agricultural policy finance affects farmers’ income through the mechanism of action,and establishes VAR model,etc,and finally draws conclusions and policy implications.it establishes the VAR model for empirical analysis by using the relevant data from 1995 to 2016 in Yunnan Province,so as to get conclusion and policy inspiration in this paper.It can be seen from the results that in the mechanism of impact of agricultural policy financial credit on farmers’ income,the productivity mechanism,employment mechanism,spillover mechanism,are consistent with the theoretical analysis.The impact of the grain and oil purchase.agricultural policy-based financial credit plays a positive role in promoting the income of farmers.However,its promoting effect is not very obvious since the benefit of credit business is relatively narrow and its influence is transmitted to farmers through the mechanism of action.Therefore,it gets the policy inspiration from establishing long-term and stable financing mechanism,expanding business scope,dynamically managing agricultural policy-based financial credit business and perfecting relevant laws and regulations on the basis of the above conclusion in this paper. |
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