Study Of Agricultural Credit Guarantee Fund Allocation Efficiency In Shandong Province Under The Background Of Digital Transformation

The development of agriculture,rural areas,and farmers is the foundation of Chinese social development.In 2017,the Central Committee of the Communist Party of China explicitly proposed to promote the implementation of the rural revitalization strategy.However,achieving rural revitalization and promoting agricultural economic development inevitably requires the support of credit resources.Due to the inherent defects of the agricultural economy,financial institutions,out of economic considerations for profit and risk avoidance,often restrict financial support for agriculture and rural areas.At the same time,relying solely on government fiscal resources to support rural agricultural development can also impose enormous financial pressure on local governments.In response to these issues,policy-oriented guarantees that combine fiscal policy tools and financial policy tools have emerged and are playing an increasingly important role in supporting agricultural development.In recent years,the rapid development of the digital economy has provided new ideas for addressing the problem of inadequate inclusiveness of traditional finance and the poor coverage of financial institutions in rural areas.Financial institutions have begun to undergo digital transformation to achieve the goal of more convenient financial services and lower service costs.Against the background of the digital transformation of financial services,evaluating the policy-oriented agricultural guarantees and examining the efficiency of fund allocation is undoubtedly an extremely important indicator.Based on the above situation,it will be of significant typical significance to study the efficiency of the allocation of policyoriented agricultural credit guarantee funds in Shandong Province,which is both an agricultural and economic province.Based on field investigations and research,this paper comprehensively studied the efficiency of fund allocation in the agricultural credit guarantee system in Shandong Province using case study methods and the DEA-Tobit empirical verification method.Firstly,based on field research,this paper studied the composition and operation of the policy-oriented agricultural guarantee system in Shandong Province,analyzed its role in the economic and social development of Shandong Province,and studied the factors affecting fund allocation efficiency,particularly the changes brought about by digital transformation in improving fund allocation efficiency.Secondly,this paper used the DEA method to verify the efficiency of the allocation of policy-oriented agricultural guarantee funds in Shandong Province and found that the overall efficiency was relatively high,but there was a certain degree of internal imbalance.In addition,the agricultural guarantee funds were not well matched in terms of the balance and efficiency of the allocation.Further,the Tobit method was used to empirically verify eight specific indicators related to three aspects that might affect the efficiency of agricultural guarantee funds allocation.The research found that in terms of regional macroeconomic factors,the total GDP of the region had a significant negative impact on the efficiency of agricultural guarantee fund allocation in Shandong Province.In terms of the income level of urban and rural residents,the per capita disposable income of urban residents had a significant positive impact on the efficiency of agricultural guarantee fund allocation in Shandong Province,while the per capita disposable income of rural residents and the urbanrural income ratio had a significant negative effect on the efficiency of agricultural guarantee fund allocation in Shandong Province.In terms of the digital transformation of financial services,the breadth of digital inclusive finance coverage had a significant positive effect on the efficiency of agricultural guarantee fund allocation in Shandong Province,while the depth of coverage had a significant negative effect on the efficiency of agricultural guarantee fund allocation in Shandong Province.Based on the above research findings,this paper proposes policies and measures from multiple perspectives,such as overall planning to reduce the urban-rural income gap,strengthening the construction of digital infrastructure in rural areas,and improving the coverage of digital finance in rural areas.