Financial Constraint of Rural Property Right Mortgage in the View of Farmers' Income Heterogeneity:A Case of Shaanxi and Ningxia

Based on the survey data in Shaanxi and Ningxia,this paper analyzes the credit channel and the current situation in financial constraints from the perspective of farmers' income heterogeneity,identifies the main factors influencing the feasibility and household property mortgage financing constraints,and estimates the extent of the financial constraints and the difference.The results show that,the financial constraints of rural property mortgage for different income households are different.With the improvement of farmers' income levels,the degree of financial constraints showed a decreasing trend,the low-income households are the main crowd in financial constraints;the credit gap of low-income households are the greatest.Overall,risk constraints,the transaction cost constraints are the most two constraints when farmers financing.Based on this conclusion,the paper brings about the policy suggestions on how to ease low-income farmers financial constraints and further promote the rural property rights mortgage.