Analysis of Herdsmen’s Credit Behavior under the Identification Scheme of Emotional and Psychological State

Abstract

Herdsmen’s access to credit funds plays an important supporting role in promoting the modern economic development of pastoral areas and broadening the channels for herders to increase their income. This paper studies the credit behavior of herdsmen from the perspective of emotional and psychological state identification to analyze the current credit behavior of herdsmen. Firstly, the internal mechanism of herdsmen’s credit and emotional and psychological identification research content are analyzed. Secondly, a scheme of emotional and psychological state identification is proposed, and a corresponding survey of herdsmen is carried out according to the scheme. Finally, the Probit and Heckman models are introduced to analyze the credit behavior of herdsmen. The results show that herdsmen with high emotional and psychological scores strongly demand credit. They are likely to have access to credit and have a high level of credit. Herdsmen with low scores of emotional and psychological characteristics have low or no apparent demand for credit, and their credit availability is also low. The herdsmen with high emotional and psychological characteristics have a 71% higher probability of generating credit demand than herdsmen with low openness. Their likelihood of obtaining credit is also 33.47% higher than herdsmen with low emotional and psychological characteristics. They also have easy access to higher loan amounts. The results provide a reference for related research and analysis of herdsman’s credit behavior and economic development.