Resources Science ›› 2021, Vol. 43 ›› Issue (11): 2342-2355.doi: 10.18402/resci.2021.11.16

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Effect of inclusive finance on farming households’homestead exit:A case of 401 households in the pilot area of Chengdu City

SUN Le1(), YUAN Shaofeng2(), ZHU Congmou3   

  1. 1. School of Finance, Zhejiang Gongshang University, Hangzhou 310018, China
    2. School of Public Administration, Zhejiang Gongshang University, Hangzhou 310018, China
    3. School of Environment and Resource, Zhejiang University, Hangzhou 310058, China
  • Received:2021-06-03 Revised:2021-08-02 Online:2021-11-25 Published:2022-01-27
  • Contact: YUAN Shaofeng


Studying the impact of inclusive finance on farmers’ homestead exit behavior is of great significance to promote the reform of rural homestead system and rural revitalization strategy. Using the survey data in typical areas of Chengdu City, Sichuan Province, this study constructed farming households inclusive finance index by using factor analysis method from the micro level, adopted the Probit model to analyze the impact of inclusive finance on farming households' homestead exit decisions, explored the intermediary role of risk expectation in the impact, and further analyzed the intergenerational differences of the impact. The results show that: First, inclusive finance has a significant positive effect on household residential land exit behavior. Second, inclusive finance indirectly affected homestead exit through the intermediary variable risk expectation, and the intermediary effect of risk expectation accounted for 17% of the total effect. Third, inclusive finance of the new generation and the old generation both have a significant positive impact on the homestead exit behavior, but from the comparison between the two, there is no obvious intergenerational difference in the impact. Therefore, based on household financial demand and supply, we should increase rural financial support, enhance the level of inclusive finance, and guide farmers to form a reasonable risk perception towards homestead exit. We should also formulate targeted policies and measures for different generations of farmers to reduce their risk expectation, strengthen policy guidance and realize financial knowledge sharing among different generations and finally promote the orderly exit of rural homesteads.

Key words: inclusive finance, risk expectation, residential land exit, Probit model, factor analysis, Chengdu City