Research On The Impact Of Innovation And Entrepreneurship On Farmers’ Income

According to the report of the 20 th National Congress of the Communist Party of China,we should keep innovation at the core of China’s modernization drive and accelerate the implementation of innovation driven development strategy.Promoting China’s economic and social development through innovation and entrepreneurship is not only based on the need for comprehensive domestic development,but also a powerful measure to address the complex and volatile international situation.China has been a large agricultural country since ancient times,and the "three rural" issues have always been a key issue of keen concern to the country and people.Through the unremitting efforts of the Party and the people,China has achieved the grand goal of building a moderately prosperous society in all respects by 2020.In order to consolidate the hard-won achievements in poverty alleviation,the Party and the state continue to promote rural revitalization and construction,with the aim of promoting rural development and improving the living standards of farmers.The core of rural revitalization is to achieve a sustained increase in the income of rural residents.The development of innovation and entrepreneurship can provide farmers with a large number of employment opportunities and income channels,thereby promoting the increase of farmers’ income.Therefore,combining the current era background of encouraging innovation and entrepreneurship in China,in-depth research on the impact of innovation and entrepreneurship on farmers’ income can not only enrich the relevant theoretical connotation,but also help China better solve the "three rural" issues,and is of great significance for promoting the sustained and healthy development of China’s economy and social harmony and stability.Based on a systematic review of relevant literature at home and abroad,this article explores the impact mechanism of innovation and entrepreneurship on farmers’ income.On the theoretical level,this article elaborates the theoretical basis of innovation and entrepreneurship and farmers’ income,and analyzes the mechanism of the research theme.At the empirical level,this article uses 283 prefecture-level city panel data from 2006 to 2020 in China as a sample to establish an econometric model to empirically analyze the impact of innovation and entrepreneurship on farmers’ income and its mechanism.The research results show that: Firstly,innovation and entrepreneurship have a significant promoting effect on farmers’ income.This conclusion is still valid through endogenous and robustness tests,and all dimensions of innovation and entrepreneurship can promote the increase of farmers’ income.Secondly,there is a significant heterogeneity in the impact of innovation and entrepreneurship on farmers’ income: Compared to the number of new enterprises,attracting foreign investment,attracting venture capital,and trademark registration,increasing the number of patent authorizations is more conducive to promoting the increase of farmers’ income;compared with the eastern and central regions,the effect of innovation and entrepreneurship on farmers’ income is more fully played in the western region;compared with high-income areas,innovation and entrepreneurship in low-income areas have a stronger income increasing effect.Thirdly,through the functional mechanism test,it is confirmed that both human capital investment and economic opportunities of farmers have a significant positive regulatory effect on the income increase effect of innovation and entrepreneurship,that is,both human capital investment and economic opportunities of farmers can enhance the promotion effect of innovation and entrepreneurship on farmers’ income.The innovations of this paper are as follows: From a research perspective,this article regards innovation and entrepreneurship as a whole to study its impact on farmers’ income,which can enrich research results in the field of farmers’ income.In terms of sample data,this article selects prefecture level city panel data,which greatly increases the amount of data and makes the empirical results more convincing.In terms of research content,this article is based on the overall impact of innovation and entrepreneurship on farmers’ income.Firstly,it explores the impact of the five dimensions of innovation and entrepreneurship on farmers’ income;secondly,it innovatively explores the impact and mechanism of innovation and entrepreneurship on farmers’ income from both theoretical and empirical perspectives,enriching research conclusions and policy recommendations,which are conducive to promoting the implementation of rural revitalization strategies.