The Innovative Study Based on the Equity Financing of Forest Management from the View of Sustainable Development
|School||Jiangxi Normal University|
|Keywords||Sustainable Development Forest Right Mortgage Loan Innovation Externalities Risk Management|
Although the widespread unclear forest property rights, inflexible operating mechanism, unreasonable distribution of benefits and other outstanding issues in the Southern Collective Forest have been improved, the fund bottleneck in the development of forestry hasn’t been broken. This affects the sustainable development of forestry and limits the further development of forest productivity. Since 2003, Jiangxi, Liaoning, Zhejiang and other provinces have promulgated their forest reform programs, and added to the ranks of forest tenure reform. Thus the forest right mortgage has engendered and has developed to a certain degree. However, at present, most studies of the domestic circles to the forest ownership system of mortgage loans, only involving some individual theoretical basis, has not formed a relatively complete theoretical framework and system. In addition, there is no deep research of Forest Right Mortgage Loan in Jiangxi province. In view of the above, with Zhangshu City in Jiangxi Province as the research object, the author proceeded its study from theoretical and practical perspectives: on the one hand, through reading a lot of relevant material , the author summarized five theories on the equity financing of forest management ; at the other hand, the author made on-the-spot investigation to the state of the forest property rights mortgage loan, and further consolidated the knowledge of its theoretical system through case studies.This article first states the research background, the project, purpose and meaning of problems, ideas and methods, and innovations.Secondly, the author analyzed the present situation of some studies in property rights on forestry, forest finance, forest ownership mortgages at home and broad, founding that there are certain deficiencies in the theoretical and practical study of the equity financing of forest management literature which provides space for the research.Thirdly, the article continued to state the financing of forest management from law, economics, sociology and other points, including the sustainable development theory, externality theory, property rights theory, risk management theory, and thus built a more complete theory of equity financing related with forest management.Fourthly, the author brief introduced the mortgages patterns of forest ownership. Our main current models include six loans which are direct mortgage loan tenure, the company secured loan guarantees, farmer guaranteed loans, mortgage loan tenure security associations, government and corporate asset-backed credit.Fifthly, the author outlined the conditions of forest ownership mortgage in Zhangshu city, including the basic situation of forest property rights mortgage, main modes and its business processes, the characteristics of household loans, rural credit cooperatives Risk Analysis.Finally, the main shortcomings and reform proposals of the forest property rights of the mortgage loan system were introduced. The defects include the forest right mortgage business has not been full popularized, the lack of effective communication between financial institutions and the forest sector, inadequate forest mortgage loan supporting mechanisms.The corresponding reform proposals are speeding up the comprehensive.popularization of forest right mortgage, establishing and improving package mechanisms of forest right mortgage, strengthening the risk awareness of the forestry sector, and innovating new model of forest ownership and other mortgages.