Research On The Poverty Reduction Effect Of Rural Financial Credit On Peasant Households’ Asset Poverty

With the completion of a moderately prosperous society in all respects in 2020,China has historically solved the problem of absolute poverty,and the focus of poverty eradication has shifted from eliminating absolute poverty to solving the problem of relative poverty.In the poverty alleviation work over the years,financial support,as one of the important means of poverty alleviation,has been regarded by the government as one of the main forces to alleviate rural poverty.Combined with China’s actual national conditions,the government has also implemented diversified financial Poverty Alleviation Policies in the exploration of poverty reduction Road,but the effect is also controversial.In particular,the simultaneous existence of formal financial market and informal financial market in rural areas makes it difficult for rural finance to give full play to its poverty reduction effect.In the new era,if we want to continue to use financial means to consolidate the achievements of poverty eradication and solve relative poverty with high quality,it is lack of long-term vision to take income or consumption as the evaluation standard of poverty,and it is difficult to deeply understand the reasons for sustained poverty and frequent return to poverty.In order to address the symptoms and root causes in the process of poverty alleviation and strengthen farmers’ self-development ability and ability to resist poverty risks,we need to start from the perspective of assets,analyze farmers’ asset poverty status,and study the role of rural finance in farmers’ asset poverty.Based on this,combined with the relevant research and theories of financial poverty reduction,asset poverty,formal finance and informal finance,and using the data of CFPS2018,this study classifies the assets of farmers,defines the poverty of total household net assets,the poverty of net assets excluding net real estate and the poverty of financial net assets,studies the proportion of farmers’ assets from the perspective of income level and regional differences,and measures and analyzes the poverty of farmers’ assets,The asset allocation and the incidence of asset poverty of farmers in different income levels and different regions are obtained.On this basis,from the perspective of credit services of rural formal finance and informal finance,this paper empirically analyzes the impact of financial credit on Farmers’ asset poverty by using probit model,explores the family heterogeneity by using the grouping regression of farmers’ income level and asset allocation level,and explores the regional heterogeneity by using the regional grouping regression.The results show that the proportion of farmers’ productive fixed assets is generally not high,and their saving tendency is higher than their consumption tendency;With the improvement of income level,the incidence of asset poverty of farmers has also decreased significantly.Farmers in the northeast and West are more likely to fall into financial net asset poverty;Rural financial credit can effectively alleviate the asset poverty of farmers,and the effect of informal financial credit is greater than that of formal financial credit;Further research shows that the impact effect of financial credit has certain household heterogeneity and regional heterogeneity.With the increase of income,the impact effect of financial credit also improves to a certain extent.Informal financial credit will significantly reduce the financial net asset poverty of high-income farmers;Formal financial credit will significantly reduce the total net asset poverty and net asset poverty excluding net real estate of farmers with high level of asset allocation,while informal finance will significantly reduce the financial net asset poverty of farmers with high level of asset allocation;The impact of non-financial credit on the total net asset poverty of peasant households is more significant in the western region,and informal financial credit is easier to alleviate the financial net asset poverty in the eastern region.Based on the above conclusions,the paper puts forward some policy suggestions,such as the identification and of the poor should be transferred from the perspective of income to the perspective of assets,combined with rural formal finance and informal finance,increase the effectiveness of financial poverty reduction,deepen the reform of rural financial system,carry out effective supervision,poverty identification and policy formulation,and adapt to household and local conditions.