Research On Farmer Household Consumer Credit Based On Consumer Cultur

In recent years,China’s economy is facing the dual pressure of declining growth and structural adjustment.In February,2022,"the opinions of the Central Committee of the Communist Party of China and the State Council on the key work of comprehensively promoting rural revitalization in 2022" proposed to "strengthen financial services for rural revitalization","support various financial institutions to explore agricultural and rural credit models,deepen the construction of rural credit system,and vigorously develop farmers’ consumption credit".In the context of rural revitalization,this highlights the central government’s high expectations for the development of rural consumer credit,and also shows the central government’s determination to revitalize the rural economy,combat the decline in economic growth and comprehensively adjust the economic structure.As a developing country with a large agricultural population,encouraging farmers to increase consumer credit can not only improve farmers’ living standards,narrow the gap between urban and rural areas,but also revitalize rural economic development and improve the quality of national economic development.So,how to stimulate farmers’ consumer credit has become the key to solve the problem.Therefore,this paper uses the hyperbolic discount model to investigate the important impact of consumer culture and its change on farmers’ consumer credit,and then demonstrates the occurrence mechanism of farmer consumer credit behavior.The results show that: first,there are obvious urban-rural differences in the use of consumer credit in China at present,that is,more cities and less rural areas;the development of consumer credit in China also shows obvious differences between urban and rural areas,that is,cities are fast and rural areas are slow.Second,the self-control reflecting consumption culture significantly inhibits the use of consumer credit by farmers,while integrating into urban consumption culture is conducive to increasing the use of consumer credit by farmers;moreover,farmers’ consumption culture and its changes can affect farmers’ demand level,and then have an important impact on farmers’ consumption credit usage.Third,based on the significant differences in consumption culture between urban and rural areas and the degree of integration of different farmers into urban consumption culture,farmers have stronger self-control,so the consumption credit usage is lower;the deeper farmers integrate into urban consumption culture,the higher their consumption credit usage.Fourth,in the context of the continuous change of urban consumption culture,farmers’ gradual weakening of self-control and integration into urban consumption culture will help to reduce physiological demand expenditure and increase development demand expenditure,which can also significantly increase the use of consumer credit.Based on China household tracking survey(CFPS)data,this paper uses panel data model,instrumental variable method,seemingly unrelated model and intermediary effect model to verify the important impact of consumer culture and its changes on the change of farmers’ consumer credit.Therefore,in order to stimulate farmers’ consumption credit and promote the high quality development of rural economy: first,we should strengthen the education of consumption credit knowledge for farmers,especially through the publicity of urban consumption culture,to alleviate the excessive inhibition of rural consumption culture on farmers’ consumption credit,so as to fully release the huge potential of rural consumption;Second,attention should be paid to the gap between urban and rural consumption culture and consumption credit,and more policy support should be given to rural consumption and farmers’ consumption credit,such as accelerating the construction of financial infrastructure in rural areas,improving the quality of financial services in rural areas,and promoting the coordinated development of urban and rural consumption credit;Third,according to the demand level of farmers and its differential effect on consumer credit,we should increase the economic income of farmers and enhance the demand level of farmers,so as to explore a multi-dimensional path for the integration of urban and rural consumption culture and promoting the growth of farmers’ consumer credit.