关键词: 农业供应链, 扶贫, 融资模式, 财政贴息, 风险补偿金

Abstract: Financial policies play an important role in the cause of poverty alleviation. This paper focuses on the contract farming supply chain composed of a capital-limited cooperative and an enterprise, and constructs four financing modes: internal financing of supply chain, bank financing, financial discount and risk compensation. This paper makes an in-depth analysis of the necessity of poverty alleviation policies, types of receivers and the applicable scenes of different poverty alleviation policies. It is found that if the uncertainty of output and capital cost of enterprise are low, the cooperative will adopt the internal financing mode, where the profits of the cooperative and enterprise, and the social welfare are much higher than the bank financing mode; otherwise, the cooperative will choose to borrow money from banks. For agricultural products featuring “high cost and low output”, government poverty alleviation can increase the profits of the cooperative and enterprise, and social welfare at the same time. As for the latter two modes, taking the poverty aid practice in Sanya and Quanzhou as an example, we find that if the output uncertainty is low, the government expenditure will be higher under the financial discount mode, while the profits of the cooperatives and enterprises, and social welfare will be also higher. The same is true under the risk compensation mode if the output uncertainty is high.

Key words: agricultural supply chain, poverty alleviation, financing model, financial discount, risk compensation