Capital Marketization,Rural Industrial Convergence,and Income Increase For Farmers

From 2004 to 2023,the Central Committee of the Communist Party of China issued the No.1 central document of the Central Committee,emphasizing the importance of the "three rural issues".In recent years,China’s rural residents’ income has achieved rapid growth,but the absolute gap between urban and rural residents’ income is still widening.It is still difficult to promote farmers’ income growth.Developing industry is the key to promoting farmers’ income,and the integration of rural primary,secondary,and tertiary industries is an important path to promote industrial development.However,the process of rural industrial integration and development faces serious financial difficulties.The development of capital marketization can promote the free flow of capital,improve the efficiency of capital allocation,effectively alleviate the financing constraints faced by the rural market,and is an effective way to promote the integrated development of rural industries and increase farmers’ income.Therefore,it is of great theoretical and practical significance to systematically study the relationship between capital marketization,rural industrial integration,and farmers’ income.This study is a study on the relationship between marketization of capital factors,rural industrial integration,and farmers’ income.The main research contents are: 1)Based on the theories of marketization of capital factors,integration of rural industries,and farmers’ income,clarify the mechanism of the impact of marketization of capital factors and integration of rural industries on farmers’ income,and construct an analytical framework for the impact of marketization of capital factors on farmers’ income,And explain the role of rural industrial integration in it.2)Empirical research on the impact of capital factor marketization on farmers’ income,and conduct research based on the transmission of rural industrial integration.3)Explore the impact of rural industry integration on farmers’ income,analyze the role of participating in rural industry integration in financing constraints for farmers,and empirically test the mediating role of alleviating financing constraints in the impact of agricultural industry chain on farmers’ income.Based on the above theoretical analysis and empirical research,the main conclusions of this study are as follows: 1)Marketization of capital factors can promote farmers’ income,and rural industrial integration has mesomeric effect and threshold effect in the process of marketization of capital factors affecting farmers’ income.2)Participating in rural industrial integration can promote the growth of farmers’ income.3)Participating in rural industrial integration can alleviate the financing constraints faced by farmers.4)Alleviating financing constraints plays a mediating role in the impact of agricultural industry chains on farmers’ income.Based on the above theoretical and empirical analysis results,this article proposes corresponding policy recommendations from two aspects: promoting capital marketization and rural industrial integration.