An Empirical Analysis Of Agricultural Policy Finance Support Agricultural Economic Growth

At present, China’s rural economic development has lagged, agricultural productivityneeds to be improved, farmers’ lives did not get rid of poverty, and solve the "three rural"issue is still the top priority of the current economic development. Financial development hasa role in promoting economic growth, thus solving the problem of rural economy should beincreased focus on rural finance. Agricultural Policy Finance as part of the rural financialsystem, and gradually developed in the rural finance in supporting and protecting agricultureplays an increasingly important role. The main implementation of agricultural policy financeis the Agricultural Development Bank of China, therefore, the paper will focus on theAgricultural Development Bank of China. Agricultural policy to ensure that important issuesneed financial fit, fully functional, accurate positioning, operating specifications, sustainabledevelopment is to improve an important measure of economic growth in rural areas, but alsoworthy of extensive discussion and in-depth research.Based on the theoretical basis for agricultural policy finance, defining the concept andbehavioral characteristics, the paper uses econometric eviews statistical analysis software,select the representatives of agricultural policy and rural economic growth, financialdevelopment of relevant statistical indicators, the unit root test, Johansen co-integrationanalysis, VEC model, Granger causality test and impulse response function, the agriculturalpolicy and to analyze the impact of the correlation between financial development and ruraleconomic growth. By error correction model that exists a long-term and stable relationshipbetween financial development and agricultural policy rural economic growth, and in theshort term, lagged one agricultural policy finance rural economic growth for the currentperiod also produced a certain amount of influence, impact direction are positive direction.Granger causality test results show that rural economic growth is the Granger cause financialdevelopment scale agricultural policy, the financial efficiency of agricultural developmentpolicy is the Granger cause of rural economic growth. Impulse response function resultsindicate that agricultural policy finance external shocks in the size of a standard deviation, its impact on the rural economy has been fluctuating around a horizontal axis, the positive andnegative effects of replacement. Metrology and Inspection reflects agricultural policy for ruralfinancial development has a positive contribution to economic growth, but it needs to beadjusted in order to deepen further by optimizing its full role in promoting, strengtheningagriculture results.This paper further analyzes the financial support of agricultural policyproblems of rural economic growth, on this basis, put forward a sound financial developmentof agricultural policy suggestions.