Research On The Influence Of Rural Financial Development On Agricultural Green Total Factor Productivity

Agricultural green development is an inevitable choice for my country’s sustainable agricultural development in the new era.With the in-depth practice of the "two mountains" theory,my country’s agricultural green development has achieved good results,but it still faces the problem of lack of internal and external funds.As an important external driving force for the green development of agriculture,rural finance is still limited in its supporting role.Therefore,exploring the impact of rural financial development on agricultural green total factor productivity and its mechanism will help rural finance to better promote agricultural green development,and has important practical significance for realizing the rural revitalization strategy and ensuring my country’s food security.This paper measures the development level of rural finance from four dimensions of rural financial scale,structure,efficiency and agricultural insurance,and theoretically analyzes the impact of rural financial development on agricultural green total factor productivity and its mechanism based on these four dimensions.The ML index method of the SBM directional distance function model is used to measure the agricultural green total factor productivity,and based on the panel data of 30 provinces in my country from 2009 to 2018,the spatial econometric model is used to empirically analyze the impact of rural financial development on agricultural green total factor productivity.The research results show that:(1)Improving the progress of agricultural green technology and improving the efficiency of agricultural green technology can jointly promote the improvement of agricultural green total factor productivity.(2)The effect of rural financial efficiency on the improvement of agricultural green total factor productivity is not significant;the rural financial structure and agricultural insurance are conducive to the improvement of agricultural green total factor productivity;the scale of rural finance will inhibit the improvement of agricultural green total factor productivity.(3)There is obvious regional heterogeneity in the impact of rural financial development on agricultural green TFP in the eastern,central and western regions of my country.The rural financial efficiency in the eastern region has an inhibitory effect on the improvement of agricultural green TFP,and the rural financial efficiency in the central region has an inhibitory effect on the improvement of agricultural green TFP.Financial efficiency has a positive effect on the improvement of agricultural green total factor productivity.The rural financial efficiency in the western region has no significant effect on the improvement of agricultural green total factor productivity;the scale of rural finance in the eastern region is conducive to promoting the improvement of agricultural green total factor productivity.The scale of rural finance in the central and western regions is not conducive to the improvement of agricultural green total factor productivity.Finally,based on the conclusions drawn in this paper,policy recommendations are put forward from four aspects: reasonably expanding the scale of rural finance,optimizing the structure of rural finance,improving the efficiency of rural finance and enriching the varieties of agricultural insurance.