Research On The Relationship Between Agricultural Investment And Agricultural Economic Growth In China

Agriculture is the foundation of the national economy.Since the reform and opening up,the rapid development of agriculture has increased the income and living standards of Chinese farmers,and laid the foundation for the overall economic development.However,due to the inherent weak nature of agriculture,the weak agricultural competitiveness,the slow increase of farmers' income,and the lack of attractiveness of agriculture have become increasingly prominent,restricting the overall development of the national economy.The importance and weak nature of this kind of agricultural industry determine the need to increase investment in agricultural capital.The proposal of the "rural revitalization" strategy in the new era will inevitably require more investment in agriculture,promote the upgrading of agricultural industrial structure and advancement of agricultural technology,and achieve sustained and steady growth of the agricultural economy.Farmers and the government are the two most important investment entities in China's agricultural production activities,and both play an important role in agricultural development.So,is existing farmer investment and government investment effective in promoting agricultural economic growth? Is the investment structure expenditure reasonable? The answers to the above questions are related to the overall agricultural investment efficiency and the quality of agricultural development in China.Therefore,from the theoretical and empirical perspectives,this paper deeply studies the impact of China's farmer investment and government investment on agricultural economic growth in terms of scale and structure.Combined with the outstanding problems of current agricultural investment in China,this paper proposes to optimize the structure of agricultural investment and improve the efficiency of agricultural investment.The relevant recommendations will ultimately achieve the goal of promoting the rapid and good growth of China's agricultural economy.The research content of this paper mainly has the following five parts:(1)A detailed introduction to the relationship between investment and economic growth theory,including classical economic growth theory,Harold-Doma growth theory,neoclassical economic growth theory and new economic growth theory.On this basis,the domestic and international research trends in agricultural investment,farmer agricultural investment and government agricultural investment were sorted out and analyzed.This part is the basis and foundation for the research in this paper.(2)It sorts out the evolution of investment structure since the establishment of China's agriculture,and analyzes the status of farmer investment,government investment and investment characteristics among provinces.Using detailed and accurate data,the outstanding problems of current farmer investment and government investment in China are elaborated.The concentrated performance is: the enthusiasm of farmers for investment decline,the peasant culture of investment,and the level of science and technology are low;the government investment is low in the proportion of fiscal expenditure,the investment structure is irrational,and the use of agricultural funds is scattered and cross-existing.(3)From the scale aspect,it analyzes the impact of farmer investment and government investment on agricultural economic growth.The empirical results show that: First,there is a long-term equilibrium relationship between farmer investment,government investment and agricultural output value.Through the cointegration equation,it is found that in the long run,the elasticity coefficient of farmer investment to agricultural output value is 1.1105,and the coefficient of government investment to agricultural output value is 1.7863.Second,the Granger causality test shows that both farmer investment and government investment have effectively promoted the growth of the agricultural economy.The growth of the agricultural economy further stimulated the increase in government investment,but did not encourage the increase in farmer investment.At the same time,government agricultural investment has an inductive effect on farmer investment.Third,the positive effect of government investment on agricultural economic growth in the short term is not obvious,and it is more significant in the long run.In contrast,the positive effects of farmer investment are more sustainable.(4)From the aspect of investment structure,the impact of farmer investment and government investment on agricultural economic growth is analyzed.The regression results show that: In the government investment structure,the impact of supporting agricultural production and agriculture,forestry,water and gas sector business expenses on the agricultural economy is positive,but not significant;The impact of rural infrastructure construction expenditure on agricultural economic growth is positive;the impact of agricultural science and technology expenditure on agricultural economic growth is significantly positive and the coefficient is the largest;rural relief expenditure is significantly positive for agricultural economic growth.In the farmer's investment structure,the coefficient of fertilizer application for short-term projects is positive,and the impact on agricultural output value is the most obvious;the total power factor of agricultural machinery for long-term project expenditure is significantly positive.(5)Finally,the paper summarizes the research conclusions of the full text,and on this basis,puts forward the policy recommendations to increase China's agricultural investment,improve the efficiency of agricultural investment,and promote the development of China's agriculture: Establish a long-term mechanism for farmers to invest;upgrade the education level of farmers,optimize the rural education model;strengthen the investment capacity of mobilizing the social capital and improve the government investment management mechanism,and optimize the financial support structure.