Research On The Impact Of Rural Financial On Agricultural Total Factor Productivity In Henan Province

The development of agriculture relying solely on pure resource factor inputs has become unsustainable.To promote high-quality agricultural development,it is necessary to improve agricultural total factor productivity.Rural finance plays a crucial role in contemporary agricultural economy and plays an indispensable role in the allocation of financial resources in agricultural development.Therefore,exploring the impact of rural finance on agricultural total factor productivity has important theoretical and practical value.This article selects Henan Province as the research object to explore the impact of rural finance on agricultural total factor productivity.Firstly,this article uses descriptive analysis to analyze the current situation and problems of rural finance in Henan Province,from multiple dimensions such as development stage,system,scale,efficiency,and structure,while pointing out the problems of rural finance in Henan Province at the present stage.At the same time,the DEA-Malmquist index method was used to calculate the agricultural total factor productivity of Henan Province in the recent 2006-2020 years.It was found that during the sample period,the agricultural total factor productivity of Henan Province has always shown an upward trend,with an average growth rate of 12.2%.The change in technical efficiency is small,and the growth and change trend of agricultural technology progress is consistent with that of agricultural total factor productivity.At the same time,the analysis found that the average value of agricultural technology efficiency in regions with high economic level is relatively high,with most cities showing positive growth,while in regions with low economic level,it is relatively low,with most cities showing negative growth.Secondly,in the empirical part,fixed effect models are selected for empirical analysis through F-test and Hausman test.Based on the empirical results,the following conclusions are drawn:(1)Rural finance in Henan Province has a promoting effect on the improvement of agricultural total factor productivity,and the scale,efficiency,and structure of rural finance have significantly promoted the improvement of agricultural total factor productivity.Among them,the scale of rural finance has the most significant promoting effect on agricultural total factor productivity,and the promoting effect of rural financial structure is in the middle,Rural financial efficiency has the smallest promoting effect on agricultural total factor productivity.(2)The regional differences in the impact of rural finance on agricultural total factor productivity in Henan Province lie in the following:in regions with higher economic development levels,the growth of agricultural total factor productivity is mainly driven by rural financial efficiency and scale,with the driving effect of rural financial efficiency being greater than that of regions with lower economic levels;In regions with low economic levels,the growth of agricultural total factor productivity is mainly driven by the efficiency,scale,and structure of rural finance,and the driving effect of financial scale is greater than that of regions with high economic levels.(3)The efficiency and scale of rural finance mainly promote agricultural total factor productivity by promoting agricultural technological progress and improving agricultural technological efficiency,with a relatively significant role in promoting agricultural technology.However,the rural financial structure promotes the improvement of agricultural total factor productivity by promoting agricultural technological progress,but has no significant impact on the improvement of agricultural technological efficiency.In addition,this paper introduces the lag period of the explained variable as the explanatory variable,and conducts a robustness test using the dynamic model GMM estimation method.The test results show that the regression results are robust.Finally,according to the research conclusions,targeted countermeasures and suggestions were put forward to improve the rural financial system,promote the innovation of rural financial products,guide the scientific development of informal financial institutions and strengthen the investment in agricultural science and technology innovation.