| With the development of China’s economy and the acceleration of urbanization,problems such as the reduction of cultivated land area and the massive transfer of labor force begun to appear,resulting in the gradual slowdown of the production factors in China.Therefore,the traditional agricultural growth mode driven by factors unable to achieve sustainable development.At this stage,it should be changed to improve agriculture.In2022,the first document of the CPC Central Committee took "promoting the revitalization of rural financial services" as an important part of rural financial services for the first time,and played an important role in revitalizing agricultural modernization.As one of the earliest rural financial system reforms in Shandong Province,rural finance has become an important driving force to improve agricultural total factor productivity.At present,rural economic development in Shandong Province is still low.How do they play a full role in financing cities in promoting agricultural total factor productivity is particularly important.However,there are few studies on the impact of rural financial development on agricultural total factor productivity in Shandong Province.In this context,to explore the impact of rural financial development on agricultural total factor productivity in Shandong Province is of great practical significance to further deepen rural financial development and improve agricultural comprehensive production capacity.At the same time,it provides guidance for improving agricultural total factor productivity.Based on the above situation,this document first summarizes a large amount of existing literature on the economic development of rural areas and the development of overall factor productivity in agriculture.On this basis,the mechanism by which rural financial development further.This paper summarizes the impact of infrastructure investment,human capital accumulation and R&D investment.Second,this document also builds an appropriate index evaluation system that assesses and this paper analyzes the level of rural financial development in Shandong Province from three aspects:the degree of rural economic development,rural financial development efficiency and rural economic structure development.Measurement and analysis of TFP in agriculture.Finally,this paper constructs another regression model using panel data from 16 cities in Shandong Province from 2005 to 2019 to empirically test the impact of rural economic development on overall factor productivity in agriculture.Empirical results show that the scale and effectiveness of rural economic development can significantly contribute to improving the overall factor productivity of agriculture,while the structure of rural economic development hinders the improvement of the overall factor productivity of agriculture.The impact of rural economic development on the overall productivity of agricultural factors is heterogeneous in coastal and inland regions with different levels of economic development.Therefore,in order to better implement the rural financing development strategy in Shandong Province and to improve the level of overall factor productivity in agriculture,this document proposes to strengthen the reform of rural financial systems,increase the supply of rural funding;actively support economic innovation in rural areas and support diversified financial market development,monitor and manage informal financial institutions,support the development of online financing in rural areas,raise citizens’awareness of online financing,vigorously develop agricultural science and technology and strengthen support for agricultural science and technology. |
