Research On The Impact Of Rural Finance Development On Green Total Factor Productivity Of Agriculture

Green development is an inevitable requirement for the construction of ecological civilization and represents the direction of change in today’s scientific and technological and industrial development.At present,China is in the stage of high-quality economic development,but agricultural development is still in the stage of material input promotion of output growth,accompanied by the excessive consumption of natural resources and environmental degradation of increasingly serious problems,pure GDP-oriented growth model to a certain extent to undermine the sustainable and healthy development of the economy.To solve the "three rural areas" problem and accelerate the process of agricultural modernization,the key lies in quality rejuvenation and green agricultural development,and improving agricultural green total factor productivity is the key link.As the main source of funds to promote the green upgrading of agricultural technology,the promotion of agricultural science and technology,and the scale of production and operation,and the focus of improving the allocation of factors,rural finance plays a crucial role in the development of green total factor productivity in agriculture.At the same time,rural human capital is an inevitable factor to enhance farmers’ green awareness and promote green production technology,and its coordinated development with rural finance is of great significance to the green transformation of agricultural production.Based on the Malmquist-Luenberger index method,the common frontier of SBM direction distance function,this paper measures the panel data of 30 provinces in China from 2009 to 2019 to obtain the value of agricultural green total factor productivity by taking the total agricultural output value and agricultural carbon sink as the expected output and agricultural carbon emissions as the undesired output.Then,the impact of rural finance development and human capital on agricultural green total factor productivity was empirically analyzed by constructing a fixed-effect panel model and a panel threshold model to measure the level of rural finance development from the three levels of financial scale,financial structure and financial efficiency,and measured by the per capita number of years of education,and the results showed that:(1)During the period of2009-2019,the development level of China’s agricultural green total factor productivity increased steadily,and the productivity growth mainly came from the progress of agricultural green technology;(2)The impact of various dimensions of rural finance on agricultural green total factor productivity is different,rural financial scale has a restraining effect on agricultural green total factor productivity,rural financial structure and efficiency have a positive promoting effect,and the above role paths are all through agricultural green technology progress rather than agricultural green technology efficiency;(3)Taking human capital as the threshold variable,rural financial scale,structure and efficiency were regressed as threshold dependent variables,and it was found that there was a single threshold for the impact of rural financial scale on agricultural green total factor productivity,and there was a double threshold for rural financial structure and efficiency.Based on the above conclusions,we will continue to improve the rural financial market,optimize the financial structure and improve efficiency;Promote green agricultural development and enhance the attractiveness of financial resources;Optimize the structure of rural human capital,improve the training of local talents and the promotion system of technical knowledge,and put forward policy suggestions to promote the green and high-quality development of China’s agriculture.