内生于产业链的商业信用如何影响农业规模经营要素投入

How Does the Commercial Credit Endogenous in the Industrial Chain Affect the Factor Input of Agriculture Scale Operation?

作为一种内生于产业链中的信用形式,商业信用在工业企业中的情况已被大量研究,但在农业生产经营中的作用却较少被关注。以粮食规模经营户的化肥施用行为为例,基于非平衡面板数据,实证研究内生于产业链的商业信用和农业规模经营要素投入之间的关系,以厘清农业产业发展的内在逻辑。结果表明:在农资价格上涨的背景下,商业信用使得粮食规模经营户有能力以较低的成本投入农业要素。相比于银行信用,商业信用在商品价格和相对交易成本上具有明显的比较优势。一方面,它的资金价格更低,因此农户实际为要素投入支付的总成本更低;另一方面,它的还款机制更灵活,农户需要承担的相对交易成本也更加有限,进而优化受到流动性约束的粮食规模经营户的农业要素投入。对此,政府应从制度上为商业信用提供一个良好的发展环境,构建农业产业内生的信用闭环,同时鼓励其他信用形式发展,以提高农业产业韧性。

As a form of credit that is endogenous in the industrial chain,commercial credit in industrial enterprises has been extensively studied,however,the role of commercial credit in agricultural production and operation has been less concerned.Taking the chemical fertilizer application behavior of large-scale grain production farmers as an example,this paper empirically studies the relationship between the business credit endogenous in the industrial chain and the factor input of agriculture large-scale operation based on the unbalanced panel data,so as to clarify the internal logic of agricultural industry development.The results show that under the background of the rising prices of agricultural means of production,the commercial credit enables the large-scale grain production farmers to input in agricultural factors at a lower cost.Compared with bank credit,the commercial credit has obvious comparative advantages in commodity prices and relative transaction costs.On the one hand,its capital price is lower,so the total cost that farmers actually pay for the factor inputs is lower.On the other hand,its repayment mechanism is more flexible,and the relative transaction costs that farmers need to bear are also more limited,which will further optimize the factor input of those farmers being subject to liquidity constraints.In this regard,the government should institutionally provide a good development environment for commercial credit,build an endogenous credit closed-loop in the agricultural industry,and at the same time encourage the development of other forms of credit to improve the resilience of the agricultural industry.