How Occupational Differentiation of Farmers Promotes Horizontal Information Linkages of Rural Financial Institutions: From the Perspective of Comparative Advantage in Information

Abstract

Abstract: The occupational differentiation of farmers has transformed the structure of the rural information market from imperfect competition to comparative advantage: the formal financial sector and the private intermediaries have information advantages in farmers'repayment ability and willingness, respectively. In order to cooperate with the national rural revitalization strategy and cope with market development under competitive pressure, the two departments may form a cooperative model of horizontal information connection through information as a carrier. Based on the realistic background of urbanization and rural economic transformation, this paper constructs a theoretical framework for the formation of financial connections through information comparative advantages caused by occupational differentiation of farmers, and conducts an empirical test with the micro survey data. Research has found that the information comparative advantage brought about by the occupational differentiation of farmers can be achieved by reducing the collateral requirements of formal financial institutions for farmers'loans, transmitting signals of farmers'repayment ability to private intermediaries, and promoting the formation of horizontal information connections between the two sectors. Further analysis shows that the information spillover effect brought about by the use of digital finance will strengthen the information advantage of formal financial institutions such as banks, thereby reducing the possibility of horizontal information linkage between the two financial sectors. There is a complementary relationship between the two financial sectors. The horizontal information linkage effect is more significant among entrepreneurs and farmers in the central and western regions. Therefore, in practice, a horizontal information linkage model for rural financial institutions should be constructed based on the information structure of the rural credit market to promote the deep development of the rural financial market.

Key words: occupational differentiation of farmers, comparative information advantage, financial linkage, formal finance, informal finance

CLC Number:

F323
F832

Chen Xiao-zhi, Deng Wei-hua, Mi Yun-sheng. How Occupational Differentiation of Farmers Promotes Horizontal Information Linkages of Rural Financial Institutions: From the Perspective of Comparative Advantage in Information[J]. Journal of Jiangxi University of Finance and Economics, 2026, 0(2): 87-99.

References

[1] 陈小知, 米运生. 农村金融理论新范式:基本原理、实践模式与政策意蕴[J]. 经济学家, 2024a, (9): 119-128.
[2] 陈小知, 米运生. 农户分化、信息分割与金融联结:基于信号传递博弈理论[J]. 华中农业大学学报 (社会科学版), 2024b, (4): 45-56.
[3] 何广文, 丁凯莉, 陈晓洁. “三位一体”信用合作缓解农户融资约束的理论与实践探析——以民钰种养农民专业合作社为例[J]. 湖南农业大学学报 (社会科学版), 2022, (6): 17-27.
[4] 何婧, 李庆海. 数字金融使用与农户创业行为[J]. 中国农村经济, 2019, (1): 112-126.
[5] 胡振, 聂雅丰, 罗剑朝. 社会资本与农户融资约束——基于农户分化和农地金融创新的异质性检验[J]. 农业技术经济, 2022, (5): 65-76.
[6] 黄枫, 孙世龙. 让市场配置农地资源: 劳动力转移与农地使用权市场发育[J]. 管理世界, 2015, (7): 71-81.
[7] 黄景怡, 米运生, 张轶之. 稻作文化、信任模式与农户融资渠道偏好[J]. 中南财经政法大学学报, 2025, (2): 135-147.
[8] 吕达奇, 周力. 数字经济与包容性就业——基于农民工群体的微观视角[J]. 江西财经大学学报, 2024, (1): 99-111.
[9] 刘家成, 徐志刚. 农户规模化经营与粮食生产外包服务转型——兼论区内服务替代跨区服务的理论逻辑[J]. 江西财经大学学报, 2024, (2): 69-81.
[10] 刘西川, 杨奇明, 陈立辉. 农户信贷市场的正规部门与非正规部门: 替代还是互补?[J]. 经济研究, 2014, (11): 145-158.
[11] 米运生, 戴文浪, 董丽. 农村金融的新范式: 金融联结——比较优势与市场微观结构[J]. 财经研究, 2013, (5): 112-122.
[12] 宁才旺, 胡文斌, 熊飞雪, 等. 政策性农业保险、农户分化对粮食单产的影响——以江西为例[J]. 农业现代化研究, 2024, (2): 197-209.
[13] 彭澎, 张龙耀. 农村正规金融创新对关联信贷市场供给和风险的影响——以农产品仓单融资为例[J]. 中国农村经济, 2021, (11): 72-88.
[14] 孙光林, 李金宁, 冯利臣. 数字信用与正规金融机构农户信贷违约——基于三阶段Probit模型的实证研究[J]. 农业技术经济, 2021, (12): 109-126.
[15] 孙红玉, 叶学平. 流动人口的身份认同对流入地居留意愿的影响——基于中国流动人口动态监测数据 (CMDS) 的验证[J]. 江汉论坛, 2022, (9): 28-34.
[16] 孙晓华, 柴玲玲. 相关多样化、无关多样化与地区经济发展——基于中国282个地级市面板数据的实证研究[J]. 中国工业经济, 2012, (6): 5-17.
[17] 谢丹夏, 魏文石, 李尧, 等. 数据要素配置、信贷市场竞争与福利分析[J]. 中国工业经济, 2022, (8): 25-43.
[18] 杨光, 马丽, 刘婷, 等. 数字经济发展、职业替代风险与农村劳动力非农就业[J]. 农村金融研究, 2025, (7): 67-80.
[19] 张开志, 高正斌, 张莉娜, 等. “候鸟式”流动亦或“永久”迁移?——基于社会融入视角的公共服务可及性与人口流迁选择[J]. 经济与管理研究, 2020, (7): 112-133.
[20] 张文军. 村庄为何分化: 基于苏南地区集体经济的考察[J]. 中国农村经济, 2025, (8): 105-121.
[21] Chauduhri S.Interaction of formal and informal credit markets in backward agriculture: A theoretical analysis[J]. Indian Economic Review, 2001, 36(2): 411-428.
[22] Cornelli G, Frost J, Gambacorta L, et al.Fintech and big tech credit: Drivers of the growth of digital lending[J]. Journal of Banking & Finance, 2023, 148: 106742.
[23] Green W N.The persistence of the moneylender: How informal debt deepens financialization in the Cambodian countryside. The Journal of Peasant Studies, 2025, 52(6): 1135-1159.
[24] Hoff K, Stiglitz J E.Introduction: Imperfect information and rural credit markets: Puzzles and policy perspectives[J]. The World Bank Economic Review, 1990, 4(3): 235-250.
[25] Jacquemin A P, Berry C H.Entropy measure of diversification and corporate growth[J]. The Journal of Industrial Economics, 1979, 27(4): 359-369.
[26] Mookherjee D, Motta A.A theory of interactions between MFIs and informal lenders[J]. Journal of Development Economics, 2016, 121: 191-200.
[27] Okamoto I, Lwin H Y, Fujita K.The persistence of credit-labor interlinked transactions in rural Myanmar: The case of Kanyingu Village in Ayeyarwady Delta[J]. Journal of Rural Studies, 2021, 82: 468-478.
[28] Seibel H D.Saving for development: A linkage model for informal and formal financial markets[J]. Quarterly Journal of International Agriculture, 1985, 24(4): 390-398.