Research On The Impact Of Fintech On Farmers’ Credit Ration

Based on credit rationing theory,inclusive finance theory,financial innovation theory,etc.,combined with China’s rural credit services and the current development and application of financial technology,this paper takes rural households’ credit rationing as the research object,and uses the 2019 China Household Finance Survey data.Based on the identification and descriptive statistical analysis of different credit rationing types of farmers,a three-variable probit model based on two order selection is used to investigate the impact of financial technology on the supply-side and demand-side rationing of farmers’ credit in China’s rural formal credit market.,and then use the Heckprobit model to further explore the mechanism of financial technology affecting farmers’ credit demand-side rationing.The research found that:(1)Demand-side rationing is the main type of credit rationing faced by farmers,and only considering supply-side rationing will underestimate the scale of credit rationing.The main reasons why farmers suffer from demand-side rationing are the high credit costs they face and the lack of their own credit confidence.(2)Fintech can help alleviate the demand-side rationing faced by farmers and promote the expression of farmers’ credit needs.However,subject to factors such as technology,cost,and system,the effect of financial technology in alleviating the supply-side rationing of farmers’ credit is not significant.(3)In terms of the impact mechanism of financial technology on the demand-side rationing of farmers’ credit,financial technology mainly alleviates the demand-side rationing of farmers’ credit by reducing credit transaction costs and reducing loan risks.However,due to factors such as the lack of innovation capability of agricultural banks and financial institutions,the lagging development of rural digital infrastructure and digital economy,and the weak digital knowledge and financial literacy of farmers,financial technology has limited effect on alleviating farmers’ price rationing and social capital rationing.In order to better play the inclusive function of financial technology and ease the credit rationing of farmers,we can start from the following three aspects: financial institutions increase the level of digital investment,fully tap the application value of financial technology,actively popularize financial knowledge and develop digital skills for farmers Relevant training to strengthen inter-bank competition and cooperation;farmers actively integrate into the digital society,change the cognitive bias of the bank credit screening mechanism,and consciously accumulate their own reputation;the government should promote the construction of rural digital infrastructure according to local conditions,clarify its own legal and regulatory responsibilities,and lay a solid foundation for the construction of a rural digital inclusive financial system.