社会网络和交易成本对农户生产性正规信贷的影响

Effect of Social Network and Transaction Cost on Farmers’Acquisition of Formal Credit for Production

利用对陕西省1091位农户的调研数据,将农户的生产性正规信贷分解为是否获得生产性信贷、是否获得生产性正规信贷和获得的生产性正规信贷金额三个阶段,运用Triple-Hurdle样本选择模型,实证检验了社会网络对农户从正规渠道获得生产性贷款的影响,进而重点考察了交易成本的中介作用机制。结果表明:农户的总体社会网络提高了生产性信贷的获得概率和信贷金额,交易型社会网络增加了生产性正规信贷的获得概率;降低正规信贷交易成本能够增加农户正规信贷的获得概率和信贷金额;社会网络能够降低农户在申请正规信贷过程中由于专用性较高、交易频次较低、不确定性较高所导致的高额交易成本,从而提高农户生产性正规信贷的获得概率和信贷金额。因此,增强农户社会网络的信息传递功能,降低正规信贷的交易成本,进而缓解农村地区生产性正规信贷约束,对于乡村振兴具有重要意义。

Based on the survey data of 1091 farmer households in Shaanxi Province in 2018,our analysis divides farmer households’acquisition of formal credit for production into three stages:whether they have received credit for production,whether they have received formal credit for production and the formal credit amount for production.Using a Triple hurdle sample selection model,this paper analyzes the effect of social network on farmers’obtaining formal loans for production,as well as the mediating effect of the transaction cost in obtaining formal credit.The results show that:(a)farmer households’overall social network increases the probability and amount of obtaining production credit,while the transaction-oriented social network increases the probability of obtaining formal credit;(b)the reduction of transaction cost can increase the possibility of farmer households’acquisition of formal credit;(c)social network can reduce the higher transaction cost caused by asset specificity,low frequency and uncertainty in the process of obtaining formal credit,thus improving the availability of farmers’formal credit.Therefore,it is of great significance to strengthen the information broadcasting functions of social network and reduce the transaction cost of obtaining formal credit,thus easing the constraint of formal credit for agricultural production and accelerating the rural revitalization.