The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province
The Chinese government encourages rural economic entities to use farmland management rights as collateral for loans, which helps to alleviate multi-level financing needs in rural areas. Based on the panel data of counties in Hubei Province, this paper adopts the Difference-in-Differences (DID) and t...
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| Format: | Article |
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MDPI AG
2023-07-01
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| Series: | Land |
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| Online Access: | https://www.mdpi.com/2073-445X/12/7/1389 |
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| author | Yiru Wang Honggang Lu Yuge Chen Peiwen Yang Xiangbo Cheng Fangting Xie |
| author_facet | Yiru Wang Honggang Lu Yuge Chen Peiwen Yang Xiangbo Cheng Fangting Xie |
| author_sort | Yiru Wang |
| collection | DOAJ |
| description | The Chinese government encourages rural economic entities to use farmland management rights as collateral for loans, which helps to alleviate multi-level financing needs in rural areas. Based on the panel data of counties in Hubei Province, this paper adopts the Difference-in-Differences (DID) and the intermediary effect model to evaluate the impact of farmland management rights mortgage loans (FMRML) on the agri-food industrial agglomeration (AIA) in China. The study found that the pilot policy has significantly promoted the AIA. Moreover, the regression results remain robust after conducting the placebo test and the Propensity Score Matching Difference-in-Differences (PSM-DID) model, which demonstrates that the improvement effect is stable and long-lasting. From the heterogeneity analysis, it can be seen that the policy of FMRML has a more significant effect on the AIA in mountainous and hilly areas. By further analysis of the mechanism of action, it can be concluded that the pilot policy promotes the AIA by enhancing agricultural specialized production. The main findings can provide information for policymakers in China. The recommendations we have summarized encompass gradually expanding the scope of the pilot policy of FMRML, advancing the institutionalization and legalization of the policy, and promoting agricultural production specialization. |
| first_indexed | 2024-03-11T00:54:45Z |
| format | Article |
| id | doaj.art-712261d9fc064bfda575d4bd6f0f9ca1 |
| institution | Directory Open Access Journal |
| issn | 2073-445X |
| language | English |
| last_indexed | 2024-03-11T00:54:45Z |
| publishDate | 2023-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Land |
| spelling | doaj.art-712261d9fc064bfda575d4bd6f0f9ca12023-11-18T20:06:50ZengMDPI AGLand2073-445X2023-07-01127138910.3390/land12071389The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei ProvinceYiru Wang0Honggang Lu1Yuge Chen2Peiwen Yang3Xiangbo Cheng4Fangting Xie5School of Economics and Management, Zhejiang A&F University, Hangzhou 311300, ChinaSchool of Economics and Management, Zhejiang A&F University, Hangzhou 311300, ChinaSchool of Business Administration, Zhongnan University of Economics and Law, Wuhan 430073, ChinaSchool of Economics and Management, Zhejiang A&F University, Hangzhou 311300, ChinaSchool of Economics and Management, Zhejiang A&F University, Hangzhou 311300, ChinaSchool of Economics and Management, Zhejiang A&F University, Hangzhou 311300, ChinaThe Chinese government encourages rural economic entities to use farmland management rights as collateral for loans, which helps to alleviate multi-level financing needs in rural areas. Based on the panel data of counties in Hubei Province, this paper adopts the Difference-in-Differences (DID) and the intermediary effect model to evaluate the impact of farmland management rights mortgage loans (FMRML) on the agri-food industrial agglomeration (AIA) in China. The study found that the pilot policy has significantly promoted the AIA. Moreover, the regression results remain robust after conducting the placebo test and the Propensity Score Matching Difference-in-Differences (PSM-DID) model, which demonstrates that the improvement effect is stable and long-lasting. From the heterogeneity analysis, it can be seen that the policy of FMRML has a more significant effect on the AIA in mountainous and hilly areas. By further analysis of the mechanism of action, it can be concluded that the pilot policy promotes the AIA by enhancing agricultural specialized production. The main findings can provide information for policymakers in China. The recommendations we have summarized encompass gradually expanding the scope of the pilot policy of FMRML, advancing the institutionalization and legalization of the policy, and promoting agricultural production specialization.https://www.mdpi.com/2073-445X/12/7/1389agri-food industrial agglomerationfarmland management rights mortgage loandifference-in-differences methodquasi-natural experiment |
| spellingShingle | Yiru Wang Honggang Lu Yuge Chen Peiwen Yang Xiangbo Cheng Fangting Xie The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province Land agri-food industrial agglomeration farmland management rights mortgage loan difference-in-differences method quasi-natural experiment |
| title | The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province |
| title_full | The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province |
| title_fullStr | The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province |
| title_full_unstemmed | The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province |
| title_short | The Impact of Farmland Management Rights Mortgage Loan on the Agri-Food Industrial Agglomeration: Case of Hubei Province |
| title_sort | impact of farmland management rights mortgage loan on the agri food industrial agglomeration case of hubei province |
| topic | agri-food industrial agglomeration farmland management rights mortgage loan difference-in-differences method quasi-natural experiment |
| url | https://www.mdpi.com/2073-445X/12/7/1389 |
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