金融能力、正规信贷约束与农户创业行为

Financial capacity,formal credit constraints and farmers’entrepreneurial behavior

基于金融能力和正规信贷约束视角,利用2017年和2019年CHFS微观数据,通过构建Probit模型实证分析金融能力对农户创业行为的影响,探讨正规信贷约束在金融能力和农户创业行为关系中发挥的中介效应。结果表明:金融能力对农户创业行为具有显著正向影响,且在考虑内生性的情况下,该结论仍然成立;中介机制检验表明,金融能力能够通过缓解正规信贷约束来促进农户创业行为;异质性分析表明,中、西部地区和三线及以下城市的农户金融能力对其创业行为的影响更为显著。据此,建议建立完善的金融能力培养体系,加大对欠发达地区的政策扶持,且提高正规信贷支持力度。

Based on the perspective of financial ability and formal credit constraint,using the micro data of CHFS in 2017 and 2019,the Probit model was constructed to study the influence of financial ability on farmers’entrepreneurial behavior and explore the mediating effect of formal credit constraint on the relationship between farmers’financial ability and their entrepreneurial behavior.The results show that farmers’financial ability has a significant positive impact on their entrepreneurial behavior,and this conclusion remains valid when endogeneity is considered.The test of intermediary mechanism shows that farmers’financial ability can promote their entrepreneurial behavior by alleviating formal credit constraints.Heterogeneity analysis shows that the influence of financial ability on rural households’entrepreneurial behavior is more significant in central and western regions and third-tier cities and below.Therefore,in the future,we should establish a perfect financial ability training system,increase the policy support for underdeveloped areas,and improve the formal credit support.