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Responses of the farm households to mortgaging operational rights to rural land and its influencing factors—a micro empirical analysis on the basis of the zero-inflated negative binomial model

CAO Li1 LUO Jianchao1,2

(1.The College of Economics & Management, Northwest A & F University)
(2.Institute of Rural Finance, Northwest A & F University)

【Abstract】This paper adopted survey data of 1272 farm households from Tongxin and Pingluo counties in Ningxia Hui Autonomous Region as well as the ZINB model to empirically analyze the farmers’ responses to, differences in and influencing factors on mortgaging operational rights to rural land under the market-dominating mode of Tongxin County and the government-dominating mode of Pingluo County. The study showed that the gender, ages and educational levels of household heads, proportions of labor force of the farm households, areas of operational land, operational types, social capital of households, enthusiasm for handling business of financial institutions, farmers’ borrowing experiences and differences in modes of mortgaging operational rights to rural land, all had significant effects on the frequency of responses to mortgaging operational rights to rural land. Farmers’ responses to loans under the market-dominating mode was more active than that under the government-dominating mode; meanwhile, the gender and age of the household head, any family member or relative as the village cadre and borrowing experience were common influencing factors on farmers' responses to mortgaging operational rights to rural land from the two regions. Among them, farmers’ borrowing experience was the most important influencing factor.

【Keywords】 operational rights to rural land; mortgages; the behavior of borrowing loans; the zero-inflated negative binomial model;

【DOI】

【Funds】 Supported by the Program for Changjiang Scholars and Innovative Research Team in University of the Ministry of Education of the People's Republic of China (IRT1176) Supported by the General Program of the National Natural Science Foundation of China (71573210) Supported by the Program of the Fundamental Research Funds for Humanities and Social Sciences of Northwest A & F University (2014RWZD01) Supported by the Doctoral Dissertation Scholarship of China Institute for Rural Studies, Tsinghua University (201517)

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    Footnote

    [1]. ① Source: the announced list of pilot counties for mortgaging operational rights to rural land and residential property in 2016, http://www.tuliu.com/read-20863.ht ml [^Back]

    [2]. ② Source: management measures on mortgaging operational rights to rural land of the Agricultural Bank of China (the trial version), http://www.caein.com/index.asp?xA ction=xR eadN ews&NewsI D=101221 [^Back]

    [3]. ① The process of shifting to (4) with logit as copula is complicated with many matrix transformations and intermediate variables. Therefore, this paper just shows the formula. [^Back]

    [4]. ① The incidence percentage reflects the percentage of the count dependent variable' change caused by per unit of change in the independent variable when other independent variables remain unchanged, namely, change of the farmers’ frequency of responses to mortgaging operational rights to rural land. When the independent variable has positive effects, the incidence percentage is (the incidence ratio – 1) X 100%; when the independent variable has negative effects, the incidence percentage is (1–the incidence ratio) X 100%. [^Back]

    [5]. ① 1.2658 = 1/0.7900. [^Back]

    [6]. ① 1/0.8012 = 1.2481. [^Back]

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This Article

ISSN:1002-8870

CN: 11-1262/F

Vol , No. 12, Pages 31-48

December 2015

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Article Outline

Abstract

  • 1 Introduction
  • 2 Literature review
  • 3 Research design and construction of models
  • 4 Data sources and selection of variables
  • 5 Results of measurement and analyses
  • 6 Research conclusions and policy implications
  • Footnote

    References