农户农地抵押贷款可得性:一个理论分析

The Availability of the Loan Mortgaged by Contractual Land Management Right of Peasants: a Theoretical Analysis

利用一个以放贷人收益最大化为目标函数的农户土地抵押贷款合约模型,对纳入抵押资产市场变现成本和考虑居民消费贷款需求条件下农户承包土地经营权抵押贷款的可得性进行了分析。结果表明:虽然农村承包土地经营权抵押有利于拓宽农村居民融资渠道,但农村承包土地经营权抵押仅仅只是满足中国农村地区部分富裕型或低风险项目农户的生产性或"一般"性消费贷款需求;只有在面临一些"刚性"的消费贷款需求时,那些贫困型农户才会进入农地抵押市场,并因此可能引发一定的金融风险。

By using the land mortgage loan contract model based on the objective function which maximizes the benefit of the lender, the paper takes into account the liquidation cost of mortgage asset and consumer demand for consumer loans to study the availability of contractual land management right mortgage loan of peasants. The result shows that the contractual land management right mortgage loan can help to broaden financing channels for peasants and improve the financial trading. However the loan mortgaged by rural land can only meet the rich in the countryside and the peasants working on low-risk project with generative or general consumption loan. And the poor enter into the rural land mortgage market only when they have rigid consumer demand for loans, which will cause some financial risk.