农户融资约束的替代策略及其效应分析——基于湖南省268份农户调查数据

Alternative strategy and effect of farmer's financial constraint

基于湖南省268份农户调查数据分析表明,农户存在着较大的生产及大额生活开支需求而无法通过正规金融机构满足,外出务工和民间金融成为农户缓解融资约束的重要途经,但民间借贷在额度、成本和期限方面难以很好地满足农户需求,相对而言,外出务工收入能更好地缓解农户融资约束。以外出务工收入/农户资金短缺额和民间借贷额/农户资金短缺额为主变量实证分析表明:外出务工和民间借贷均能一定程度上缓解农户的融资约束,但外出务工的影响更大。

Based on the analysis of 268 survey data of farmers, it paper finds out that： farmers are facing large demands for production and high consumption which can＇t be met through the formal financial agency; working out or loaning from informal financial agency would be an important method to ease the farmers＇ financial constraints; the informal financial agency is hard to meet farmers＇ demand considering the amount, the costs and the time limit of the loan, while the income of working out can ease farmers＇ financial constrain. Then this paper makes an empirical analysis with 2 ratios as variables： one is the ratio of farmers＇ incomes of working out and farmers＇ shortage of money and the other is the amount of credit through informal finance and farmers＇ shortage of money. The results show that working out and loaning from informal financial agency both had positive impact on easing farmers＇ financial constrain, and working out works better.