Does Participation in Social Security Increase Chinese Farmers’ Willingness of Homestead Withdrawal?

The compensated withdrawal of rural homesteads can revitalize idle land resources, which is of significant importance for both farmers and rural development in China. Drawing upon data from the China Land Economic Survey 2022, this study uncovers the impact of participation in social security on farmers’ willingness of homestead withdrawal, as well as its mediating factor. The main conclusions are as follows. First, participation in social security can increase farmers’ willingness of homestead withdrawal. This conclusion has passed robustness tests. Second, facilitating entrepreneurial activities is an important mediating factor through which participation in social security increases the willingness of homestead withdrawal. Third, rural entrepreneurship training and finance accessibility can both have a positive moderating influence on the positive relationship between participation in social security and the willingness of homestead withdrawal. Fourth, for farmers who experienced significant negative events in their households, the enhancing effect of social security participation on their willingness of homestead withdrawal is diminished, while for farmers engaging in farmland transfer-out, the enhancing effect of social security participation on their willingness of homestead withdrawal is strengthened. This study provides policy implications for China in promoting the exit of rural farmers from homesteads through social security policies, thus achieving rural revitalization.