A Comparative Study Of Farmers' Willingness To Mortgage Their Land Management Rights Under Different Modes

For a long time,farmland property mortgage loans are an important financing channel in rural China.Now,from the pilot phase to the full implementation phase,it is necessary to summarize the implementation of the previous phase.The research on this issue can be Promoting the reform of agricultural land property rights provides some inspiration.According to their actual conditions,the pilot areas have formed a diversified loan model.What can be learned from the full implementation today?In March 2019,the Central Committee issued the "Opinions on Promoting the Organic Connection between Small Farmers and Modern Agriculture Development",which pointed out that "to explore unsecured microfinance and expand the scope of rural loan collateral",thus from the perspective of collateral type The experience summary of the previous model is a prerequisite for the full implementation of agricultural land property rights reform.At the same time,the willingness of farmers to mortgage is the basis of the feasibility of the system.The participation of farmers is directly related to the operational performance of the policy.Therefore,the model and the willingness are combined to study how to improve the willingness to borrow through the improvement of the existing model.It seems crucial.Based on this,the following research is carried out in this paper.(1)This paper selects 475 questionnaires from three pilot areas in Tongxin County of Ningxia,Fenggang County of Guizhou and Nanhu District of Zhejiang Province.According to Wang Yinsheng(2014),the collateral model of farmland mortgage policy is divided into three regions.It is divided into "asset-led" and "relationship-oriented".On the basis of this,with information asymmetry andtransaction cost theory as the guidance,from the two aspects of model process and characteristics,qualitative analysis of the difference in the willingness of farmers to mortgage loans The impact mechanism of the study shows that compared with the“asset-led” type,the “relationship-oriented” farmers have higher willingness to mortgage loans.(2)On this basis,the fifth chapter uses the ordered Logistic model to further analyze that the model does have a significant impact on the willingness of farmers to mortgage,which is consistent with the theoretical analysis.(3)At the same time,the factors affecting farmers' mortgage willingness in different modes also have commonality and difference.Common factors include loan experience,policy awareness and policy satisfaction;differences include loan demand,family size,total household income,and average distance.In general,due to the regional characteristics and the applicability of the model,farmers' mortgage willingness presents different universal differences.Therefore,according to the research conclusions,the countermeasures for the optimization of the farmland management rights mortgage loan model are proposed,in order to further improve the farmer loan response.Necessary.The specific recommendations include the following two aspects:First,the model angle optimization proposal-selection and improvement.Specifically:(1)mode selection: "relationship-oriented".Since “relationship-oriented”farmers' mortgage willingness is greater than the “asset-led” type,it is appropriate to carry out the “relationship-oriented” model in areas where information transparency is high and the neighborhood relationship is the main social relationship of the farmers;(2)model improvement: "Asset-led".Since the "asset-led" transaction cost and information asymmetry are greater than the "relationship-oriented",so draw on the characteristics of the "relationship-oriented" model,and make recommendations from the two perspectives of policy support and credit rating system to reduce "asset-led" The transaction cost and information asymmetry of type and relationship-oriented,and thus increase the willingness of farmers to mortgage;(3)The model is further improved: “relationship-oriented”.Although the "relationship-oriented" has the general guarantee of the members and the cooperative,but in the event of default,theinterests of the members and the cooperatives cannot be reasonably guaranteed,and the credit will be affected to a certain extent.Therefore,the local government should establish a multi-level risk dispersion mechanism.Reduce the risk of guarantors and cooperatives.For example,the government should guide the lending market to develop in the direction of “policy support + additional guarantee + agricultural insurance”,requiring farmers to participate in agricultural insurance to reduce operating losses and credit risks.Second,factor perspective optimization recommendations-commonalities and differences.Specifically:(1)Significant common factors(lending experience,awareness and satisfaction).Adopt a variety of information dissemination methods to broaden the scope of publicity of agricultural land management rights mortgage policies,inform farmers of the detailed rules of borrowing procedures,conditions,interest rates,etc.,deepen farmers' understanding of the farmland management rights mortgage loan policy,and eliminate their concerns;(2)significant Sexual differences.Pay attention to the in-depth understanding of the specific significant factors affecting the willingness of local farmers,and adjust and improve the local financial products,and truly achieve the “micro-based basis” for promoting the mortgage loan model of agricultural land management rights.