Research On Credit Demands And Availability Of Planting Farmers'Specialized Cooperatives In Hunan Province

Farmers' specialized cooperatives,as new types of agricultural business entities,are of vital functions and significance in guiding agricultural reforms,optimizing the allocation of agricultural resources,enhancing the level of large-scale agricultural operations,promoting the transformation of traditional agriculture into modern agriculture and improving the income of farmers.As planting farmers'specialized cooperatives of Hunan Province,a large agricultural province mainly engaged in planting industry,has continuous development,its credit demands also expand.However,it does not have high credit availability and still faces the prominent problem of credit difficulties,which deeply affects its better development.In this paper,the information asymmetry theory,transaction cost theory,agricultural credit subsidy theory and other theories are used to investigate planting farmers'specialized cooperatives.Besides,the empirical approach is used to research credit demands and availability of planting farmers'specialized cooperatives.The investigation done to current development situations of planting industiy in Hunan Province and those of planting farmers' specialized cooperatives shows that the output value of the planting industry is being continuously improved,its structure is being continuously optimized and the quantity of farmers'specialized cooperatives for planting industry constantly increases and their quality is improved.Besides,it covers a wide range of categories and has obvious features of industrialization,diversified business models and continuously enhanced driving effects.Sampling surveys done to planting farmers'specialized cooperative in Hunan Province and statistical analysis of their credit demands and availability show that planting farmers'specialized cooperatives have strong credit demands and they rely much on formal credit institutions,but they do not have high availability.They still have many problems,such as the lack of strength and ability of cooperatives,internal non-standard operations,shortage of guarantees,fraudulent financial institutions credit concepts and insufficient products and services,Limited government support for specialized farmer cooperatives in the plantation sector,inadequate guidance to financial institutions and poorly provided external environmental conditions.Empirical analyses of elements affecting credit demands and availability of cooperatives by using binary Logistic regression model show that the scale of fixed assets,The size of the fixed assets of cooperatives,the hierarchy of model cooperatives,the financial system,the organizational model,the mode of operation,the cultural level of the directors,the relationship with financial institutions have a positive impact on the availability of credit,government support,the amount of loans has a negative impact on the availability of credit,guarantee institutions and other external conditions also have some influence.In order to resolve the credit difficulties of planting farmers'specialized cooperatives in Hunan Province and improve their credit availability,cooperatives should enhance their own capacity and functions,financial institutions should update their credit work concepts and financial service models,and the Government should increase credit guidance support and optimize the external environment.