Research On Farmers'Financial Literacy And Its Influencing Factors In Ethnic Areas

Farmers' financial literacy will have important impact on farmers' financial behavior,financial availability,income growth,wealth accumulation and financial well-being.Therefore,researching the financial literacy of farmers in ethnic areas in China has great significance to increase farmers' anti-poverty endogenous motivation,enhance the pertinence of financial poverty alleviation work on ethnic poverty areas,strengthen the financial poverty alleviation effect on China's ethnic areas,and promote the development of financial institutions on ethnic areas,realize the policy of “precise poverty alleviation” on our ethnic areas.Based on the literature on the research of financial literacy assessment index framework of home and abroad,this paper uses STATA15.0 to analyze the survey data onto 380 farmers in Linfeng Town.And this paper analyzes the dilemma faced by farmers' financial literacy on ethnic areas,combining with the actual situation of farmers' financial literacy in Linfeng Town.The results show: Farmers' financial awareness is quite different,and farmers' financial calculation skill need to be improving.Financial institutions have single product and service,lead to farmers have low demand for financial products,and have low initiative in acquiring financial knowledge.Moreover,the lack of development momentum of financial institutions and the low efficiency of the financial system had increased the difficulty for farmers to obtain financial knowledge.Then,this paper empirically analyzes the factors affecting the financial literacy of farmers on ethnic areas through structural equation modeling.The results show that the age,the education level of farmers and the type of employment are all important factors affecting the financial literacy of farmers in Linfeng Town.On this basis,this paper summarizes the experience of improving the financial literacy of farmers on ethnic areas by two typical cases of “SanNong Financial Service Room” and “Industry at Home,Hand in Hand” in Tiandong County,Guangxi Province.Finally,based on the above research conclusions,this paper believes that improve the financial literacy of farmers on ethnic areas to need: Strengthen the relationship between financial institutions and farmers,help financial institutions to provide effective financial products and services to satisfy farmers' financial needs,and improve the accuracy and efficiency of financial services.And establish a suitable credit collection system for farmers.Establish an effective supervision and restraint mechanism.Through training of financial knowledge and job skills to encourage farmers' the endogenous motivation about to start their own businesses and find employment.