土地确权是否会改善信贷准入？ 来自中国农村的准实验证据

Zhang Longyao, Cheng Wenli, Cheng Enjiang, WuBi. Does land titling improve credit access? Quasi-experimental evidence fromrural China[J]. Applied Economics, 2019, 57(2):1–15.

摘要简单翻译:

根据2010年和2015年进行的官方调查，我们研究了2009年开始的中国土地确权改革如何影响农村家庭获得信贷的机会。我们发现改革对家庭的信贷效应存在差异。对于经济状况高于平均水平的家庭（以耕地面积，收入水平和银行访问的便利性衡量），改革后获得正规信贷的机会有所改善。对于经济地位低于平均水平的家庭，对非正规信贷的依赖减少了。我们表明，土地作为抵押品的可用性可能会增加获得正规信贷的机会。信贷效应的另一个渠道是收入和财富。我们发现土地所有权对家庭平均收入产生了积极影响，这将减少他们对非正规信贷的需求。对于那些耕地面积高于平均水平的家庭来说，土地所有权增加了他们的财富，可能扩大了他们的业务，这将增加他们的信贷需求和获得正规信贷的能力。

ABSTRACT

Based on official surveys conducted in 2010 and 2015, we study how the Chinese land titling reform beginning in 2009 affected rural households’ access to credit. We find that the reform had differential credit effects across households. For households with above-average economic status (measured by the area of cultivated land, level of income, and convenience of bank visits), access to formal credit improved as a result of the reform. For households with below-average economics status, reliance on informal credit lessened. We show that the availability of land as collateral might have enhanced access to formal credit. Another channel of the credit effects was income and wealth. We find that land titling had a positive impact on average household income, which would reduce their need for informal credit. For those households with above-average area of cultivated land, land titling increased their wealth and might have expanded their operations, which would increase both their credit demand and their ability to access formal credit.

https://doi.org/10.1080/00036846.2019.1644446

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