Study On The Impact Of Digital Inclusive Finance On Agricultural Total Factor Productivity

Agriculture is the most basic material production department of the national economy,and the improvement of total factor productivity is the core feature of modern agriculture.With the booming of China’s digital economy,digital inclusive finance based on digital technology can effectively solve the financing dilemma in agricultural development and play an increasingly important role in improving agricultural total factor productivity.In this context,it is of great significance to study the theoretical logic of digital inclusive finance’s impact on agricultural total factor productivity and empirically investigate the impact effect and mechanism of digital inclusive finance on agricultural total factor productivity,which is of great significance to promote high-quality agricultural development and rural revitalization.Firstly,this paper clarified the connotation and measurement methods of digital inclusive finance and agricultural total factor productivity,and explored the theoretical basis and mechanism of digital inclusive finance influencing agricultural total factor productivity.Secondly,based on the accurate measurement of digital inclusive finance and agricultural total factor productivity in China,the temporal variation trend and spatial distribution characteristics of the development of digital inclusive finance and agricultural total factor productivity in China are analyzed.Thirdly,panel data of 31 provinces in China from 2011 to 2018 were used to empirically test the effect and mechanism of digital financial inclusion on agricultural total factor productivity.Not only the direct impact of digital financial inclusion on agricultural total factor productivity,but also the dynamic impact,mechanism and threshold effect of digital financial inclusion on agricultural total factor productivity were investigated.Finally,some suggestions are put forward according to relevant conclusions.It is found that both digital inclusive finance and agricultural total factor productivity in China show a trend of continuous development in time,but show obvious regional differentiation in space.Digital inclusive finance plays a significant role in promoting agricultural total factor productivity,and the coverage and digitalization degree of digital inclusive finance play a significant role.Further heterogeneity analysis shows that there is regional heterogeneity in the impact of digital inclusive finance on agricultural total factor productivity,and digital inclusive finance has the most significant promoting effect on agricultural total factor productivity in central China.Mechanism analysis shows that digital inclusive finance mainly affects agricultural total factor productivity through improving regional human capital level,consumption level and technological innovation level.At the same time,digital inclusive finance has a threshold effect on agricultural total factor productivity based on its own development level and Internet development level.The higher the regional digital inclusive development level is,the higher the Internet development level is,the more obvious the agricultural productivity improvement effect of digital inclusive finance is.In order to effectively play the role of digital inclusive finance in promoting agricultural total factor productivity,it is necessary to strengthen the top-level design of digital inclusive finance development,improve the construction of rural digital infrastructure,promote the coordinated regional development of digital inclusive finance,and improve the human capital level of rural residents,market demand for agricultural products and agricultural production innovation level.