Research On The Measurement Of Rural Land Finance Development Level And Its Influencing Factors In Shandong Province

The weak characteristics of agriculture,such as long investment cycle,high operational risk,low and unstable income,restrict the effective development of agriculture.Land is the most basic input factor of agricultural production,and the demand for land transfer in modern agricultural scale operation is also increasing.Therefore,it is of great significance to combine land transfer with financing,which can optimize the efficiency of factor allocation and the effective input of agricultural production factors.The core of developing rural land finance is to organically combine farmland management rights with mortgage loans,so that land transfer and financing can promote each other,and then make collaborative investment in agricultural production factors.This paper uses theoretical analysis and empirical test to study the development level of rural land finance in Shandong Province and its influencing factors,and puts forward corresponding policy recommendations based on the research conclusions.Firstly,based on the theory of land property rights,land trust theory and farmland financing theory,this paper analyzes the influencing factors of rural land financial development in Shandong Province.It is found that the reform of ’three rights separation’ of farmland,the increasingly perfect farmland circulation system,the gradually perfect rural financial market system,the improvement of farmers’ cultural quality and the improvement of social security provide the basic conditions for the integration of farmland and finance.The index system of rural land financial development level is constructed.The entropy method and coupling coordination degree model are used to measure the rural land financial development level index of 17 cities in Shandong Province from 2006 to 2020.The level of rural land financial development,the overall trend of development and regional differences are comprehensively analyzed.It is found that the level of rural land finance in Shandong Province is increasing year by year,but the overall level is still at a low level,and there are great differences between different regions.Secondly,taking the index of rural land financial development level as the explained variable,and the registration and certification of farmland rights as the core explanatory variable,the two-stage least squares method(2sls)is used for endogenous test and regression analysis.The study found that the "separation of three rights" of contracted land has a significant role in promoting the development of rural land finance.The reform of "separation of three rights" has made the property rights of agricultural land clearer,provided institutional guarantee,promoted the transfer of agricultural land and the scale management of agricultural land,improved the investment efficiency and income,made farmers generate capital demand,and encouraged agricultural operators to invest in agricultural land for a long time.The implementation of the ’separation of three rights’ system has also produced a mortgage guarantee effect,which helps to reduce the information asymmetry in the mortgage loan of farmland management rights,improve the credit guarantee degree of agricultural business entities,and then strengthen the willingness of financial institutions to supply agricultural loans.The age structure of rural population,the number of outlets of rural financial institutions,the balance of agricultural loans of financial institutions and the area of cultivated land per labor also have a significant impact on the development of rural land finance.Finally,based on the conclusions of theoretical analysis and empirical research,the countermeasures and suggestions for improving the development of agricultural modernization in Shandong Province are put forward,that is,to further deepen the reform of "three rights separation" of agricultural land and clarify theboundary and structure of agricultural land property rights.Strengthen the construction of rural land financial market and risk supervision and management;strengthen the government’s policy and financial support for all participants in rural land financial development.