参与农业产业链对农户信贷配给的影响及机制研究

A Study on the Impact and Mechanism of Participation in the Agricultural Industry Chain on the Credit Rationing of Farmers

基于陕西、山东两省1159户农户微观调研数据,在理论分析的基础上,通过Probit模型和中介效应模型,检验了农业产业链影响农户信贷配给的机制及效应。研究发现:参与农业产业链对农户供给型数量配给和需求型价格配给、风险配给及交易成本配给均有明显缓解作用;通过稳健性检验和工具变量法处理内生性问题后,结论依然成立。机制检验表明,参与农业产业链可以通过农业订单、担保措施和农业保险来提高农户抵押担保能力,缓解数量配给;通过增加农业收入、降低生产成本和提升产品质量来提高农户农业经营收益,缓解价格配给;通过减少生产风险、市场风险和自然风险来降低农户农业经营风险,缓解风险配给;通过减少贷款手续、审批时间和贷后检查来降低农户信贷交易成本,缓解交易成本配给。农业产业链对规模异质性农户的信贷配给影响存在差异:农业产业链对规模农户数量配给有显著负向影响,对小农户数量配给影响不显著,对小农户各类需求型信贷配给均有显著负向影响,对规模农户需求型信贷配给的缓解作用仅体现在交易成本配给上。因此,健全农业产业链利益联结和信息共享机制,完善信贷抵押担保功能,是新时期强化乡村振兴金融服务的重要战略选择。

Based on the micro survey data of 1159 farmers in Shaanxi and Shandong provinces,and on the basis of theoretical analysis,this paper tests the mechanism and effect of the agricultural industry chain on farmers'credit rationing through Probit model and intermediary effect model.The study found that participating in the agricultural industry chain significantly alleviated farmers’supply-based quantity rationing,demand-based price rationing,risk rationing and transaction cost rationing.After handling endogenous problems through robustness test and instrumental variable method,the conclusion is still valid.Mechanism test shows that participation in the agricultural industry chain can enhance farmers’collateral capacity through agricultural orders,guarantee measures,and agricultural insurance,thereby alleviating quantitative rationing.It can increase farmers’agricultural business income by increasing agricultural revenue,reducing production costs,and improving product quality,thus alleviating price rationing.It can reduce farmers’agricultural business risks by decreasing production risks,market risks,and natural risks,thereby alleviating risk rationing.Furthermore,it can lower farmers’credit transaction costs by reducing loan procedures,approval times,and post-loan inspections,thus alleviating transaction cost rationing.The impact of the agricultural industry chain on credit rationing for farmers of different scales shows variations:the agricultural industry chain has a significant negative effect on the quantitative rationing for large-scale farmers,while its impact on the quantitative rationing for small-scale farmers is not significant.It has a significant negative effect on various demand-oriented credit rationing for small-scale farmers,and its alleviating effect on demand-oriented credit rationing for large-scale farmers is only evident in transaction cost rationing.Therefore,strengthening the mechanisms for interest linkage and information sharing within the agricultural industry chain,and improving the functions of credit collateral and guarantees,are important strategic choices for enhancing rural revitalization financial services in the new era.