Research On The Efficiency Of Rural Financial Resources Allocation In Henan Province

The No.1 Central Document in 2022 pointed out that it is necessary to continue to promote rural revitalization,ensure national food security,and actively promote the new process of agricultural and rural modernization.Rural finance plays a key role in the development of rural economy.At present,the development of rural economy in my country is still relatively lagging behind.The income gap between urban and rural residents is large.The regional imbalance of rural economic and financial development is obvious.Many financial resources do not reach rural areas.The scarcity of rural financial resources requires that the quality and efficiency must be improved when allocating rural financial resources.As a major agricultural province in Henan Province,the efficient allocation of rural financial resources provides important support for solving the "three rural" problems.Therefore,it is necessary to study the efficiency of rural financial resource allocation in Henan Province and analyze its influencing factors.Based on the theoretical basis of rural finance,this paper selects the sample data from 2009 to 2019,takes 18 prefecture-level cities in Henan Province as the research object,and studies the allocation efficiency of rural financial resources.Firstly,it analyzes the status quo of rural economic development and financial resource allocation in Henan Province.By constructing input-output indicators,the DEA-BCC model is used to measure its rural financial resource allocation efficiency from a static perspective.It is found that during the sample period,the efficiency value of rural financial resource allocation in Henan Province is concentrated around 0.8,and the overall efficiency is not high.Secondly,using the Malmquist index model to analyze the changes of the efficiency of rural financial resource allocation in Henan Province from period t to period t+1 in the past 11 years from a dynamic point of view.It is found that during the period from 2009 to 2019,the total factor productivity was greater than 1 in only four years,that is,it was increasing compared with the previous year,and the rest of the years showed a decreasing state compared with the previous year.When measuring the dynamic efficiency of 18 cities in Henan Province,it is found that only Luoyang,Pingdingshan and Sanmenxia have an average total factor productivity greater than 1.Thirdly,using Arc GIS software,Dagum Gini coefficient and kernel density distribution map,the regional differences in comprehensive efficiency are analyzed from a spatial perspective.It is found that there are obvious high-high agglomeration and low-low agglomeration between regions,and the Gini coefficients between different regions all show a downward trend.Intra-regional disparities have a greater impact on overall disparities,and regional disparities still exist but the absolute disparities continue to narrow.According to the results of efficiency measurement,this paper selects the indicators that affect the allocation efficiency of rural financial resources in Henan Province from three aspects: economic environment factors,financial environment factors,and social environment factors,and constructs a Tobit regression model.The three regions in South China are divided into samples for empirical analysis.The empirical results show that rural economic level,agricultural insurance level,and urbanization rate have a significant positive impact on the allocation efficiency of rural financial resources in Henan Province,and the depth of rural financial development,government intervention and rural residents’ consumption capacity have a significant negative impact on the overall efficiency value.to influence.In the subregional regression,there are differences in the influencing factors of the allocation efficiency of rural financial resources in different regions,and the influence degree of the same factor on different regions is also different.Among them,the rural economic level has a significant positive correlation with the northern and southern Henan regions,and the urbanization rate has a significant positive correlation with the three regions.The level of agricultural modernization has a significant negative impact on the central Henan region and a significant positive impact on the southern Henan region.and other factors have a negative impact on the allocation efficiency of regional rural financial resources to varying degrees.Finally,based on the above efficiency measurement and empirical regression results,specific suggestions are given to improve the efficiency of rural financial resources allocation in Henan Province:that is,to improve the rural financial structure system,expand the organizational scale of rural financial institutions;optimize the rural financial development environment,and innovate financial products and services;Improve the rural financial policy system,pay attention to multi-party cooperation,improve the financial literacy of farmers,strengthen financial supervision,and improve the quality and efficiency of the allocation of rural financial resources.