Research On Financial Resource Allocation Affecting Agricultural Supply-side Structural Reform Capability

Since the reform and opening up,China's agricultural development has achieved remarkable results.However,the main contradiction in agricultural production has gradually changed from insufficient total to structural problems.The supply of agricultural products and consumer demand have been mismatched.The deeper reason lies in the conflict between the requirements for agricultural and rural development under the background of rural revitalization strategy and the backward agricultural production methods.So agricultural supply-side structural reform has become the only way.As a "lubricant" for economic development,financial resources can also provide financial support and guide the distribution of production factors for agricultural supply-side structural reforms,and are necessary resources for agricultural supply-side structural reform.Therefore,it is more practical to study the impact of financial resource allocation on agricultural supply-side structural reform.Since the implementation of agricultural supply-side structural reforms involves comprehensive adjustments in the field of agriculture,rural areas,and farmers,the agricultural supply-side structural reform capability is defined as the potential comprehensive capability for agricultural upgrading,rural reforms,and farmers' income increase through the implementation of agricultural supply-side structural reform.Aiming at the five key elements of agricultural supply-side structural reform,the agricultural supply-side structural reform capability is further subdivided into new main body production capability,science and technology contribution capability,financial capability,information application capability,and system guarantee capability.Based on the discussion that various rural financial resources play different roles in enhancing the agricultural supply-side structural reform capability,a logical chain of "allocating rural financial resources-driving key elements-enhancing reform capability-deepening agricultural supply-side structural reform" was established.Based on the comparison of the allocation scale of financial resources in various regions,it is found that the eastern part has the largest.allocation scale of agricultural loans,inclusive financial credit,financial institution resources,and financial human resources.All kinds of financial resources in the central part are allocated at a medium level and expanded in coordination.The western part is supported by finances,with the largest allocation of fiscal expenditure on agriculture and agricultural insurance.Agricultural loans and financial human resources have grown rapidly in the past three years.Due to the small rural population in the Northeast,the allocation of rural financial resources is relatively small.Although the allocation of rural financial resources in various parts has generally maintained growth,the financial needs of farmers and agricultural enterprises have not yet been fully met.There are regional differences in the allocation of rural financial resources in China,which are unbalanced and insufficient.By quantifying the efficiency of financial resource allocation affecting agricultural supply-side reform capability through the super-efficiency DEA model,it's found that during 2009-2018 the efficiency of each region fell first and then increased,from aggregation to dispersion.At this stage,the efficiency of eastern and central region is relatively high,especially the efficiency of central region remains stable,while the efficiency of west and northeast region is relatively low.The number of provinces that achieve DEA effectiveness every year presents a U-shaped change.After proposing and promoting agricultural supply-side structural reform at the end of 2015,the situation of overall inefficiency has been reversed.In 2018,five provinces achieved DEA effectiveness.Furthermore,by the analysis of the factors influencing the efficiency of financial resource allocation affecting agricultural supply-side reform capability,it's found that the national efficiency is mainly influenced by macro factors,the eastern efficiency is mainly related to meso factors,the efficiency of the central and western regions is affected by multiple factors.In order to optimize the allocation of financial resources and enhance agricultural supply-side structural reform capability,the following countermeasures are proposed:first,give full play to the backbone role of Agricultural Development Bank,the main role of commercial banks,the basic role of rural financial institutions,and the complementary role of new rural financial institutions,in order to expand the breadth of rural financial development to enhance the financial capability of agricultural management entities;second,accelerate the innovation of rural financial products and services,improve the rural capital market and insurance market,encourage the standardized development of private finance,in order to strengthen the depth of rural financial development to enhance the comprehensive reform capability of agricultural management entities.