The Impact Of Green Finance On The Development Level Of Rural Revitalization

In the "No.1 Document" of the Central Government in 2023,it is pointed out that the solution of the "three rural issues" must be placed at the center of the work of the whole Party.The strategy of revitalizing the countryside is a major strategic plan to solve the "three rural issues" and consolidate the achievements of poverty eradication in the light of the current situation of agricultural and rural development in China.Green finance is an important financial tool for green development,and it is of great theoretical and practical significance to study how green finance affects the development of rural revitalization.Firstly,this paper through bibliometric analysis and literature content analysis,systematically composes the literature related to green finance and rural revitalization,and finds that the current literature on the relationship between green finance and rural revitalization in China is relatively small and not deep enough.Secondly,based on the research of existing scholars and relevant national policies,we constructed the index system of green finance and rural revitalization development level,measure the current level of green finance and rural revitalization in China by using the entropy power method,and analyzed the current development status,and find that the current level of green finance in China is low and unevenly distributed,but the overall trend is gradually increasing.The development level of rural revitalization in China is generally high but unevenly distributed,and the overall trend is gradually rising.Finally,with the development level of rural revitalization as the explanatory variable,green finance as the main explanatory variable,and the studies on rural revitalization in the existing literature,the elderly population dependency ratio,trade openness,urbanization rate,marketization level,social consumption level and economic development level are selected as the control variables,and a spatial Durbin model is constructed for 30 provinces and municipalities(excluding Tibet,Taiwan,Macao and Hong Kong)from 2010 to 2020.Finally,to investigate whether there is heterogeneity in the impact of green finance on the development level of rural revitalization,regressions are conducted in three sub-regions in the East,West and Central Asia.The research results show that green finance in China can significantly promote the improvement of rural revitalization development level,but from the spatial spillover effect,although green finance can drive the improvement of rural revitalization development level in local areas,the improvement of rural revitalization development level in the surrounding areas is not significant for the time being.The heterogeneity test shows that there is heterogeneity in the influence of green finance on the development level of rural revitalization in the eastern,middle and western regions of China,with the eastern and western regions having obvious promotion effects,and the promotion effect of the western region is stronger than that of the eastern region,which may be caused by the tilting of national policies and resources to the western region,while the current green finance in the central region will inhibit the improvement of the development level of rural revitalization.