政策性农业信贷担保对新型农业经营主体设立的影响——基于担保分支机构设立的准自然实验  

The Impact of Policy-based Agricultural Credit Guarantee on the Establishment of New Agricultural Business Entities:A Quasi-natural Experiment Based on the Establishment of Guarantee Branch Offices

作　　者：高晓燕 向念 Gao Xiaoyan;Xiang Nian

机构地区：[1]天津财经大学金融学院

出　　处：《金融经济学研究》2024年第6期49-63,共15页Financial Economics Research

基　　金：教育部人文社会科学规划基金项目(20YJA790013)。

摘　　要：利用中国232个地级市2011—2020年面板数据,基于担保分支机构设立这一政策冲击,构建多期双重差分模型,评估政策性农业信贷担保对新型农业经营主体设立的影响及机制。研究结果表明,政策性农业信贷担保能够显著促进新型农业经营主体设立,且该影响具有长期持续性。机制分析显示,政策性农业信贷担保有利于促进信贷资金和信贷服务下沉,从而推动新型农业经营主体设立。异质性分析发现,在农业主产区、银行存款规模大、外部风险保障不足、信息化水平较低的地区,政策性农业信贷担保对新型农业经营主体设立能够发挥更大作用。建议进一步完善政策性农担体系,更好地引导信贷资源下沉,促进担保和信贷协同赋能新型农业经营主体培育。Based on the policy shock of the establishment of guarantee branch offices,this study constructed a multi-period difference-in-differences model using the panel data of 232 prefecture-level cities in China from 2011 to 2020 to assess the impact of policy-based agricultural credit guarantee on the establishment of new agricultural business entities and its mechanism.The results showed that policy-based agricultural credit guarantee significantly facilitates the establishment of new agricultural business entities and that the effect is sustainable over the long run.The mechanism analysis revealed that policy-based agricultural credit guarantee is conducive to facilitating the decline of credit funds and credit services,thereby driving the establishment of new agricultural business entities.The heterogeneity analysis showed that policy-based credit guarantee can play a greater role in the establishment of new agricultural business entities in main agricultural production regions and regions with large bank deposits,insufficient external risk protection,and low levels of informationization.This study recommends a further improvement to the policy-based agricultural credit guarantee system,better management of the decline of credit resources,and fostering guarantee-credit synergy to empower the cultivation of new agricultural business entities.

关 键 词：政策性农业信贷担保 金融支农 担保分支机构 新型农业经营主体 

分 类 号：F324[经济管理—产业经济]