Research On"Government-Bank-Guarantee" Agricultural Credit Guarantee Innovation Mode

During the period of rural economic restructuring and adjustment of agricultural production structure,"difficult loans and expensive loans" severely impeded rural economic development and became a "bottleneck" to farmers' income.However,as the degree of differentiation among rural households continues to increase,and the area of land circulation in rural areas continues to expand,the financing needs of the new-type agricultural management entities with large-scale operations gradually shift towards the characteristics of large quotas,long duration,seasonality,and flexible periods.Traditional microfinance loans has been unable to adapt to the credit demands of new types of agricultural operations.The existing research shows that the cooperation between banks and guarantee agencies is conducive to improving the credit availability of borrowers.However,due to the backwardness of China's agricultural guarantees,the traditional"Bank-Guarantee" loan mode cannot solve rural credit problems.In the past two years,with the construction of the agricultural credit guarantee system,the government has joined the"Bank-Guarantee" cooperation to form an innovative "Government-Bank-Guarantee"agricultural credit guarantee loan mode.Although this mode is in the initial stage of development,it has achieved initial success in alleviating credit constraints.However,at present,there is less research on the " Government-Bank-Guarantee " innovative loan mode,especially the lack of its internal operating mechanism and government functions on theoretical analysis.Based on this,this paper analyzes the cooperation relationship of the"Government-Bank-Guarantee"mode and explains the role of the government in the theoretical aspect,At the same time,it takes the pilot practice in Jinan of Shandong Province and Anhui Province of Anhui Province as typical cases to compare and analyze the two modes.The operating mechanism,external conditions,advantages,and problems of these modes have explored the basis for the selection of different modes.Based on the experience gained from the development of foreign agricultural credit guarantee systems,the lessons learned from the construction of our country's agricultural guarantee system have been derived.It hopes to provide useful empirical evidence and policy recommendations for the improvement of the "Government-Bank-Guarantee" mode,thereby alleviating the financing difficulties of the new agricultural operating entities.First of all,this paper shows from a theoretical perspective that the government has played a major role in mitigating information asymmetry,reducing transaction costs,and providing financial support in the "Government-Bank-Guarantee" mode,which is conducive to solving the problem of rural credit guarantee market failure and reducing loan costs.Improve the availability of loans for new types of agricultural operations.The complex multi-agent-agent relationship in the "Government-Bank-Guarantee" mode was sorted out,and the incentive and restraint system among participating parties was analyzed.Secondly,this paper takes Jinan,Shandong,and Suzhou,Anhui pilot areas as typical cases.Through comparative analysis,it concludes that the "Bank-Guarantee" mode and the"Bank-Government" mode share the risk,the threshold of loans and guarantees,and the depth of government loan services.There are certain differences in such aspects.The former used the counter-guarantee mechanism to increase the willingness of the borrower to repay funds,activated the assets of the farmers,and the latter used pure credit guarantees to reduce the threshold of guarantee services and had strong reproducibility.The poor coordination of the tripartite cooperation and the lack of a risk-sharing mechanism have affected the operational effect of the "Government-Bank-Guarantee" mode.The level of economic development in the region and the degree of emphasis on agriculture are the main factors affecting the use of differentiated "political silver" modes in different regions,and put forward the selection logic for different types of "political silver" modes.Finally,this paper reviews the experience of the operation of the agricultural secured loan mode that includes the US government guarantee mode,the Japanese credit guarantee insurance mode,and the agricultural credit insurance mode in Taiwan Province of China,and summarizes eight experiences that can be used by our country for reference.Based on the above analysis,this paper proposes to construct and improve China's agricultural guarantee system from the following three aspects:exerting the leading role of the government,gradually expanding the coverage of guarantees,improving the accuracy of services,and improving risk sharing and prevention and control mechanisms.At the same time,this article puts forward three suggestions for improving the coordination of the three parties,establishing a grass-roots supervision mechanism,and improving the supporting services for agricultural credit guarantee loans to improve the"Government-Bank-Guarantee" mode.