活体抵押融资能有效激励畜牧业产出吗?OA

To explore the impact and mechanism of livestock collateral financing on animal husbandry output,based on the"De Soto Effect"theory,a theoretical analysis framework for the impact of live mortgage financing on animal husbandry output is constructed in this study.Taking panel data from 290 cities in China from 2010 to 2022,a multi-period double-difference model is used to empirically test whether livestock collateral financing can stimulate animal husbandry output and analyze its mechanism and heterogeneity.The results showed that livestock collateral financing significantly improves the output level of animal husbandry in the region,and the conclusion still holds true after a series of robustness tests.The mechanism analysis results indicate that livestock collateral financing mainly promotes the increase of animal husbandry output through improving the availability of agricultural credit funds,expanding factor inputs,and promoting industrial agglomeration.The heterogeneity analysis found that the effect of livestock collateral financing on improving the output level of animal husbandry is more prominent in areas with weaker financial development,pastoral and semi pastoral areas,and areas with weaker initial animal husbandry levels.Therefore,it is necessary to support the development of livestock collateral financing by establishing a standardized and differentiated framework,deepening industry finance collaboration to empower factor investment and industrial agglomeration,and promoting high-quality development of animal husbandry.